Bitfarms to Transition Bitcoin Mining Operations to AI-Focused High-Performance Computing Data Centers
Bitfarms has announced plans to shut down its Bitcoin mining operations over the next two years and gradually convert its facilities into AI-focused high-performance computing data centers. The company will begin this strategic transition with its site in Washington, repurposing the facility to support a new generation of compute-intensive workloads, according to a statement released on November 13.
The Washington facility, an 18-megawatt Bitcoin mining site, is expected to complete its transformation by December 2026. It will feature state-of-the-art infrastructure powered by Nvidia’s flagship GPUs. This setup will be capable of handling workloads of up to 190 kilowatts per rack, enhanced by advanced liquid cooling systems to ensure optimal performance.
As part of the conversion plan, a partner will supply all critical IT hardware and building materials needed to complete the transition. Bitfarms CEO Ben Gagnon emphasized the potential benefits of this pivot: “We believe there are compelling reasons to consider pursuing a GPU-as-a-Service or Cloud monetization strategy, specifically at Washington. Despite being less than 1% of our total developable portfolio, we believe that the conversion of just our Washington site to GPU-as-a-Service could potentially produce more net operating income than we have ever generated with Bitcoin mining.”
Gagnon further expects that the Washington site’s conversion will establish “a strong cashflow foundation” for the company. This foundation will support the wind-down of Bitfarms’ Bitcoin mining business by 2026 and 2027.
### Industry Shift: Bitcoin Miners Pivoting to AI
The Bitcoin mining industry has become increasingly competitive, with shrinking profit margins and expensive upkeep costs. Crypto miners, however, already benefit from having readily available infrastructure and power contracts, giving them an edge over traditional data center operators.
As a result, many Bitcoin mining companies are dismantling their rigs and shifting their focus to AI and high-performance computing workloads, especially after the 2024 Bitcoin halving event, which reduced block rewards and tightened mining economics.
Bitfarms’ mining revenue had already shown signs of strain in the first half of 2025, marked by compressed gross margins and rising production costs. With the AI sector promising stronger recurring revenue streams and increased enterprise demand, Bitfarms is positioning itself to capitalize on this growing opportunity—following the lead of many publicly traded competitors.
### Shareholder Support and Financial Performance
Shareholders have supported Bitfarms’ strategic pivot, which is reflected in the company’s strong share performance throughout much of 2025. By doubling down on its transition into compute infrastructure, Bitfarms has successfully leveraged the booming AI wave.
The move is also motivated by recent financial challenges. In its latest quarter, Bitfarms posted a net loss of $46 million, or 8 cents per share, which fell short of analyst expectations forecasting a 2-cent loss per share. This occurred despite a 156% year-over-year increase in revenue, which reached $69 million.
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Bitfarms’ shift from Bitcoin mining to AI-powered computing infrastructure underscores the evolving landscape of the crypto and tech industries. With the Washington facility serving as the first step in this transition, the company aims to build a sustainable and profitable future in the rapidly expanding AI market.
https://crypto.news/bitfarms-to-exit-bitcoin-mining-and-go-all-in-on-ai-by-2027/