During the same earnings call, Bitfarms’ CEO Ben Gagnos stated that they expected this pivot to be completed by Q4 2026, as Nvidia’s latest AI GPU generation, codenamed Vera Rubin, is expected to ship in the same period.
To this end, Bitfarms has allocated a war chest of over $588 million from a convertible note offering and a $300 million debt facility to start the work needed to adapt its infrastructure to these new workloads.
In addition, Bitfarms recently arranged the sale of its last Latam site, in Paraguay, for $30 million, turning into a company with a full North American energy footprint, focusing on markets with demand for AI workloads.
The Vera Rubin GambitIn opposition to other companies that are betting on adapting their facilities for the current generation of Nvidia GPUs, codenamed Blackwell, which are used by most companies in the AI industry, including OpenAI.
During Bitfarm’s 2025 Q3 earnings call, Gagnon pointed out that just having this infrastructure ready at the right time will be a large advantage, as they will be able to capture companies aiming for fast deployment of these chips.
Furthermore, Gagnon bets that AI players will be incentivized to deploy these assets swiftly, even paying higher rates to begin operations before their counterparts. “Would you rather sit on your GPUs and not deploy them? Or would you rather pay a higher infrastructure expense in order to deploy them and start monetizing the asset?” he asked.
It remains to be seen whether Gagnon’s forecasts are accurate, and Bitfarms becomes one of the first companies offering datacenter support for Vera Rubin, amassing demand for its services.
FAQ What major change is Bitfarms making in its business focus? Bitfarms is pivoting from Bitcoin mining to providing High Performance Computing (HPC) services aimed at artificial intelligence companies. Why is Bitfarms shifting its focus now? After facing significant losses of $46 million in Q3 2025, the company is pursuing new revenue streams to stabilize its operations. What financial resources is Bitfarms utilizing for this transition? The company has secured over $588 million from convertible notes and a $300 million debt facility to help adapt its infrastructure for HPC services. How is Bitfarms positioning itself in relation to Nvidia’s new GPU generation? Bitfarms aims to be the first provider ready for Nvidia’s Vera Rubin chips, which are expected to offer increased efficiencies for AI workloads compared to the current Blackwell generation.
