Bitfarms stock fell 18% after the company announced plans to exit Bitcoin mining by 2027 and pivot to AI infrastructure following a Q3 loss of about $46 million. The move has raised investor concern and highlights a potential industry shift away from legacy mining.
Bitfarms will wind down Bitcoin mining over the next two years and convert its facilities into high-performance AI data centers by 2027. The move marks a strategic pivot toward AI compute as mining economics tighten.
Bitfarms said it will wind down Bitcoin mining over the next several years after posting a $46 million loss and will redeploy assets toward AI infrastructure. The shift highlights cost pressure on miners and growing demand for compute capacity in AI workloads.
Bitfarms said it will shift its Bitcoin mining sites over the next two years to power AI workloads, beginning with its large Washington site; the announcement sent shares down about 18%.
Bitfarms announced it will wind down its Bitcoin mining operations over the next two years to redeploy capital and facilities toward AI and high-performance computing (HPC) technology. The move signals a strategic shift that could affect miner capacity and industry dynamics as data-center operators chase higher-margin workloads.