Bitcoin News Update: Bitfarms Shifts Focus to AI as Crypto Faces Declining Profitability and Increased Volatility
- Bitfarms plans to exit Bitcoin mining by 2027, shifting to HPC/AI infrastructure amid shrinking crypto margins and volatility. - The Washington site's GPU-as-a-Service transition, funded by a $128M agreement, aims to boost income but faces a 12% premarket stock drop due to earnings misses and execution risks. - Competitors like IREN and Terawulf are also pivoting to AI, with Bitfarms' 8.3x PS ratio below peers but above industry averages. - Financial pressures include $46M Q3 losses, $9M impairment charg
Canadian
The decision comes after a difficult third quarter in 2025, during which
This approach echoes the strategies of competitors like IREN and Terawulf, who have teamed up with major tech firms such as Microsoft and Google to build AI-focused data centers. IREN
Mounting financial pressures are speeding up the change. Bitfarms’ Q3 operating loss
The market’s response to this new direction has been mixed. While some analysts see promise in the HPC/AI sector,
As the industry’s move toward AI infrastructure accelerates, Bitfarms’ future will depend on its ability to successfully convert the Washington site and attract large-scale clients. The company’s
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