Bitfarms is preparing to walk away from the business that defined it. After years as one of North America’s most recognizable Bitcoin miners, the company has announced a full-scale exit from mining by 2027 as it repositions itself around one of the fastest-growing tech sectors including artificial intelligence, AI data centers and high-performance GPU computing.
The pivot begins with a single facility, but Bitfarms believes it will reshape the company’s future. And if its projections are right, the move could generate more income than any chapter in its mining history, mirroring a broader Bitcoin mining decline and the industry-wide pivot toward AI infrastructure.
A Landmark Pivot Begins in Washington
The company’s first major step comes through its 18-megawatt site in Washington, which will be stripped out and rebuilt into a high-performance AI-powered data center. The plan, announced on November 13, calls for installing Nvidia GPUs along with liquid-cooling systems and high-density racks. Each rack is designed to handle up to 190 kilowatts, a setup intended for AI training, inference work, and GPU-as-a-service use.
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Construction is expected to finish by December 2026. Once complete, the site will no longer operate as a Bitcoin mine and will instead function as a high-performance computing facility.
To secure the transition, Bitfarms signed a $128 million binding agreement with a major U.S. data-center infrastructure provider that will supply all critical IT hardware and construction materials needed to complete the data center conversion.
CEO Ben Gagnon says the Washington site alone may outperform the company’s entire mining portfolio:
“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”.
He added that the facility will help establish the stable cashflow foundation needed to support the shutdown of Bitfarms’ Bitcoin mining division through 2026 and 2027.
Why Miners Are Pivoting to AI Infrastructure
Bitfarms’ decision reflects a sweeping trend in the crypto mining industry, intensified by the 2024 Bitcoin halving, which cut rewards and worsened Bitcoin mining economics. Rising energy costs, ASIC maintenance expenses, and tighter competition have made mining increasingly unprofitable.
Yet miners possess two strategic advantages that make the AI computing shift straightforward:
1. Large-scale industrial power contracts
2. Pre-existing data-center-like infrastructure
This natural compatibility has accelerated interest in AI data center transformation, allowing firms to repurpose facilities for Nvidia GPU clusters, LLM training, and enterprise-grade AI workloads.
The company’s most recent financial results, kind of, reflect the pressure behind the change. By early 2025, margins had narrowed and costs had climbed. In its most recent quarter, Bitfarms posted a net loss of $46 million, falling short of expectations even as revenue rose 156 percent year over year to $69 million. The AI sector, by contrast, promises stronger recurring revenue, long-term enterprise demand, and significantly better margins, which traditional Bitcoin mining can no longer consistently provide.
A High-Stakes Reinvention for 2027
Shareholders have largely supported Bitfarms’ strategy. The company’s shares rose during much of 2025 as Bitfarms increased its focus on AI data center operations. Trading activity followed the company’s shift toward cloud computing and GPU-related services.
The company’s shares rose during much of 2025 as Bitfarms increased its focus on AI data center operations. Trading activity followed the company’s shift toward cloud computing and GPU-related services.
If carried out as planned, the shift would leave Bitfarms operating outside of Bitcoin mining. The company would instead run AI-focused data center operations tied to high-performance computing and GPU workloads.
