Bitfarms Announces U.S. Redomiciliation Plan and Intent to Rebrand as Keel Infrastructure

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• Bitfarms is officially launching the final phase of our pivot to the U.S., positioning us to more effectively execute on the significant opportunities we see ahead in HPC/AI infrastructure development

  80% confidence

• We are no longer a Bitcoin company, we are an infrastructure-first owner and developer for HPC/AI data centers across North America

  80% confidence

• As we enter this next chapter, our focus is simple: we're building the infrastructure for the compute of the future

  80% confidence

• The keel is the structural backbone of a vessel—the largely unseen but critical foundation that provides stability and converts energy into forward motion. It represents our commitment to becoming an infrastructure partner that enables customers to achieve their goals in the HPC/AI revolution that will continue for years to come

  80% confidence

• The Board of Directors unanimously determined that the US Redomiciliation is in the best interests of Bitfarms, and unanimously recommends that the shareholders of the Company vote in favor of the Arrangement

  80% confidence

• The US Redomiciliation is not expected to impact the Company's existing operations or facilities in Canada and the United States

  80% confidence

• Our strong liquidity profile enables us to take this step now, ensuring we can allocate resources efficiently to maximize the value of our entire portfolio and continue advancing all our sites to NTP

  80% confidence

• This transition will expand our access to new sources of capital, increase our eligibility for index inclusion, and simplify our story for U.S. investors, among other benefits that we believe support our ability to continue creating value for our shareholders

  80% confidence

• As a business, fortifying our U.S. footprint will bring significant benefits including reducing complexity for potential customers and enhancing our current relationships with suppliers and energy providers

  80% confidence

• Bitfarms originally secured and converted this debt facility to accelerate development at Panther Creek. To date it has successfully funded our progress towards Notice to Proceed (NTP), including permit applications and securing long lead time items, like substations

  80% confidence

• Repaying the Macquarie debt facility is a strategic move that strengthens our balance sheet and grants us the financial flexibility to secure more cost-effective project financing

  80% confidence

Cited in these Via News reports

• Bitfarms Exits Bitcoin Mining for AI Data Centers, Rebrands as Keel Infrastructure in U.S. Pivot →
• Global AI Infrastructure Race Exposes Critical Bottlenecks as Nations Compete for Compute Supremacy →