The rebrand and the relocation have both received shareholder approval. The move to the US signals a deliberate repositioning — one aimed at tapping a market where AI infrastructure spending has been climbing steadily.
The company’s 2025 financial results, also released Tuesday, showed a net loss of $284.5 million — wider than the year before. Revenue rose 70% year-on-year to close to $230 million, but the cost of generating that revenue came in at $248 million, producing a gross loss before other expenses were counted.
General and administrative costs also increased. A swing in the fair value of digital assets cost the company almost $51 million last year, compared to a $26 million gain in 2024. A $28 million gain from selling digital assets partially offset those figures.
Despite the losses, investors responded positively. Shares closed Tuesday up 6.60%, trading at 2.73 Canadian dollars, or roughly $1.96 US.
Bitcoin Holdings Still On The Books For NowRiot Platforms and MARA Holdings have both expanded into AI and high-performance computing as well. The pattern reflects a broader move by mining companies seeking higher margins in a different corner of the tech sector.
Featured image from Akos Stiller/Bloomberg via Getty Images, chart from TradingView
