Bitcoin miner Bitfarms (BITF) continued its exit from the bitcoin business, confirming that it has already started selling parts of its holdings, with plans to continue doing so as it pivots towards AI infrastructure.
The company generated $28.2 million in realized gains from bitcoin sales in 2025, signaling active divestitures throughout the year. While the company has not disclosed the exact number of coins sold, management made it clear that additional sales are planned. According to BitcoinTreasuries.net, Bitfarms currently has 1,827 BTC.
“Over time, we won’t have any bitcoin,” CEO Ben Gagnon said on the company’s fourth-quarter earnings call Tuesday. He added that Bitfarms will sell bitcoin “opportunistically for strength” and continue to mine to “maximize free cash flow before selling the miners.” The approach points to a gradual winding down rather than an immediate liquidation.
The shift reflects a broader trend across the bitcoin mining sector, where companies are repurposing the energy infrastructure for high-performance computing and AI workloads. Bitfarms is advancing a 2.2 gigawatt development pipeline across North America and is targeting AI-powered revenue beginning in 2027, according to its 2025 full-year results.
The company is also undergoing a structural shift, with shareholders approving a US re-domiciliation and rebrand to Keel Infrastructure (KEEL), expected to close around April 1, 2026, with shares set to trade under the ticker KEEL.
BITF shares are higher by 4.6% on Tuesday along with a general rise in AI infrastructure stocks.
