Bitcoin miner Bitfarms (BITF) has continued its exit from the Bitcoin sector, confirming that it has already started selling some of its holdings, and plans to continue to do so as it moves towards AI infrastructure.
The company generated $28.2 million in realized gains from bitcoin sales in 2025, reporting active divestitures during the year. Although the company did not disclose the exact number of pieces sold, management made it clear that more sales were planned. According to BitcoinTreasuries.net, Bitfarms currently holds 1,827 BTC.
“Over time, we won’t have bitcoin anymore,” CEO Ben Gagnon said Tuesday during the company’s fourth-quarter earnings conference call. He added that Bitfarms would sell bitcoin “opportunistically” and continue to conduct mining operations to “maximize free cash flow before selling the miners.” The approach favors a gradual liquidation rather than an immediate liquidation.
This shift reflects a broader trend in the bitcoin mining sector, where companies are repurposing energy infrastructure for high-performance computing and AI workloads. Bitfarms is advancing a 2.2 gigawatt development pipeline across North America and targeting AI-driven revenue starting in 2027, based on its full-year 2025 results.
The company is also undergoing a structural change, with shareholders approving a U.S. re-domiciliation and name change to Keel Infrastructure (KEEL), which is expected to close around April 1, 2026, and shares are expected to trade under the ticker symbol KEEL.
BITF shares are up 4.6% Tuesday alongside a general rally in AI infrastructure stocks.
