Bitfarms announced in its Q3 2025 earnings release that it will wind down its Bitcoin mining business across 2026–2027 and pivot its operations toward high-performance computing and AI infrastructure.
The company confirmed the shift today while reporting a $46 million net loss from continuing operations on $69 million in revenue, noting that its Washington State facility will be the first site converted to support GB300-class GPUs with advanced liquid cooling.
According to the financial update, the new AI strategy will be funded through a $588 million convertible note offering and up to $300 million in project financing tied to its Panther Creek campus. Bitfarms said it now holds $814 million in liquidity and operates 341 MW of energized capacity within a 2.1 GW North American energy portfolio, giving it multiple locations that can be reconfigured for AI/HPC workloads. The company also highlighted plans to support Nvidia’s next-generation Vera Rubin GPUs, stating that these systems could generate higher operating income than any period of BTC mining.
Bitfarms expects the transition to progress gradually over the next two years, with the Washington buildout targeted for completion as early as December 2026. Management said additional updates will follow as development advances across its North American sites.
Source: Bitfarms Investor Relations
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