Bitfarms Rebrand Signals Strong Push Into HPC and AI Data Centers

Bitfarms shareholders have signed off on a sweeping corporate shift that relocates the company to the United States and repositions it as an infrastructure play for artificial intelligence (AI) and high-performance computing (HPC).

Proxy advisors, including Institutional Shareholder Services, backed the move, citing its economic logic. The board followed suit with a unanimous recommendation, and shareholders largely treated the proposal as a formality.

Under the new structure, Bitfarms becomes a subsidiary of Keel Infrastructure Corp., a freshly formed Delaware entity. The company’s operations, facilities, and day-to-day activity remain unchanged, at least for now. What changes is the wrapper—legal, financial, and narrative.

CEO Ben Gagnon framed the vote as validation of a longer effort, noting the company has been repositioning for more than a year. “Today’s vote is an endorsement of our hard work over the course of more than a year, and an important milestone in our strategic pivot,” he said.

Bitfarms already has a sizable North American footprint, including a 2.1-gigawatt energy portfolio spanning active, in-development, and pipeline projects. The company’s New York office is set to become its primary executive base following the transition.

There are still boxes to check. Court approval and standard closing conditions remain in play, and as with any restructuring, risks include delays, added costs, or benefits that take longer to materialize. The company has pointed investors to its filings for a fuller accounting of those variables.