Bitfarms to Exit Bitcoin Mining, Rebuild Sites as AI Data Centers by 2027
Bitfarms said it will shut down its Bitcoin mining operations over the next two years and gradually repurpose the sites into AI-focused high-performance computing data centers, with a target completion around 2027. The announcement represents a clear strategic shift from proof-of-work mining to selling AI compute capacity and reflects a broader industry search for more stable revenue streams.
The change matters because it could alter the company’s revenue profile and affect local power demand patterns; for the Bitcoin network, any drop in Bitfarms’ hash power would only translate into wider impact depending on other miners’ responses and hardware redeployments. For investors and customers, the pivot signals that legacy mining firms are increasingly treating AI infrastructure as a hedge against volatile mining margins and rising energy considerations.