Bitfarms Stock Plunges as Company Shifts from BTC Mining to AI

Key Notes

• Birfarm pivots: exits BTC mining by 2027; opts for GB300 AI construct.
• Q3 earnings are at $46M, with $300m extra financing.
• BITF inventory is down 18%.

Bitfarms says it should regularly retire its Bitcoin

BTC
$95 230



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0.3%


Market cap:
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Vol. 24h:
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mining enterprise throughout 2026–2027 and redeploy its energy and real-estate footprint into high-performance computing (HPC) and AI knowledge facilities.

The shift was outlined alongside Q3 2025 results and a devoted Washington-state conversion plan. 

What Modified for Bitfarms

In response to the earnings launch, the Washington web site turns into the primary AI facility. The corporate will retrofit its 18 MW Washington State knowledge heart to help Nvidia GB300-class GPUs with superior liquid cooling, designed for as much as 190 kW per rack and a focused PUE of 1.2–1.3. Bitfarms says the provision chain for the construct is absolutely funded through a $128 million binding gear settlement. Completion is focused for December 2026, so the shift can be gradual.

From persevering with operations, Bitfarms posted Q3 internet lack of $46 million ($0.08/share) on $69 million in income; total outcomes replicate a strategic exit from Latin America, with Argentina and Paraguay now handled as discontinued operations.

Administration highlighted $588 million in not too long ago issued convertible notes and the conversion of a Macquarie facility to as much as $300 million of mission financing for the Panther Creek (PA) campus, with a further $50 million drawn in October to speed up long-lead objects. 

Bitfarms additionally lists 341 MW of energized capability at the moment inside a broader 2.1 GW North American vitality portfolio and twelve North American knowledge facilities, giving it a number of websites that may be re-tooled for AI/HPC. 

Administration’s Rationalization Behind the Shift

CEO Ben Gagnon stated the AI push is now the corporate’s core growth technique and singled out Washington as a possible GPU-as-a-Service (GaaS) hub that might generate extra working earnings than any interval of BTC mining. He additionally guided that the mining wind-down will happen by way of 2026–2027.

Birfarms (BITF) Inventory Reacts with Plunge, Bitcoin Nonetheless Down

BITF shares fell sharply after the print and technique replace. A number of shops flagged a double-digit drop as merchants digested the miss versus consensus and capex plans for AI build-outs.

Bitcoin itself is tender: BTC traded round $97k–$101k in current classes after a number of retests of the $99k space this month, including macro strain to miners’ near-term money flows.

Crypto Miners Shift to AI

Friends are diversifying—however not absolutely exiting. Marathon (MARA) used its Q3 name to stipulate growth into AI and vitality infrastructure; Hut 8 launched a GPU-as-a-Service line; and IREN (Iris Vitality) has signed multi-year AI cloud contracts scaling to 23k GPUs. Bitfarms is among the many first massive public miners to place a dated, company-wide mining exit on paper. 

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