TLDR
- Bitfarms reported $28.2 million in realized gains from bitcoin sales in 2025.
- The company confirmed it plans to reduce its bitcoin holdings to zero over time.
- Bitfarms currently holds 1,827 BTC, according to BitcoinTreasuries.net.
- CEO Ben Gagnon said the company will sell bitcoin opportunistically into market strength.
- Bitfarms is developing a 2.2 gigawatt pipeline to support AI infrastructure projects.
Bitfarms confirmed it has started selling Bitcoin as it shifts toward AI infrastructure. The company reported $28.2 million in realized gains from bitcoin sales in 2025. Management stated it plans to reduce holdings to zero over time while advancing its new strategy.
Bitfarms Accelerates Bitcoin Sales and Outlines Exit Plan
Bitfarms generated $28.2 million in realized gains from bitcoin sales during 2025. The company did not disclose the number of coins sold. However, management confirmed it has already reduced its bitcoin position and will continue selling. According to BitcoinTreasuries.net, Bitfarms currently holds 1,827 BTC.
Chief Executive Officer Ben Gagnon addressed the plan during the fourth-quarter earnings call.
He stated, “In time, we will have no bitcoin.” He also said the company will sell bitcoin “opportunistically into strength.” He added that Bitfarms continues mining to “maximize free cash flow before selling the miners.”
Management described the process as gradual rather than immediate. The company continues operating mining facilities while it prepares asset sales. As a result, it aims to extract cash flow before exiting the bitcoin business. The company confirmed it will align future treasury decisions with its infrastructure strategy.
BITF shares rose 4.6% on Tuesday. The stock moved higher alongside gains in AI infrastructure equities. The company did not link the price movement to specific corporate actions. Trading activity followed the earnings update and strategic confirmation.
Bitfarms Advances AI Infrastructure Strategy and Rebrand
Bitfarms is developing a 2.2 gigawatt pipeline across North America. The company plans to direct this capacity toward high-performance computing and AI workloads. Management expects AI-driven revenue to begin in 2027, according to full-year 2025 results.
The company confirmed that shareholders approved a U.S. re-domiciliation. It will rebrand as Keel Infrastructure and adopt the ticker KEEL. The transition is expected to close around April 1, 2026. The company will cease trading under the BITF symbol after completion.
Bitfarms stated it will continue managing existing mining assets during the transition. However, it intends to sell miners over time as part of the shift. Management said the strategy focuses on maximizing value before asset disposals. The company has not provided a timeline for completing all bitcoin sales.
The earnings call provided the latest operational update. Executives reiterated the target of removing bitcoin from the balance sheet. The company confirmed that further sales remain planned as market conditions permit. Shares are set to trade under KEEL once the rebrand closes.
