Bitfarms has announced a strategic shift away from Bitcoin mining towards developing high-performance computing and AI data centre infrastructure in North America. CEO Ben Gagnon said the company is making "100% of our focus on North American HPC infrastructure development" and expects to have "no Bitcoin" in time. The company reported revenue of $229 million for fiscal 2025, up 72% year-over-year, but posted an operating loss of $150 million and net loss of $209 million. Bitfarms holds approximately $520 million in cash and Bitcoin after completing a $588 million convertible offering. Effective 1 April, Bitfarms will complete a US re-domiciliation and rebrand to Keel Infrastructure. The company is advancing a three-year build plan centred on three sites, targeting permit approvals by mid-to-late summer, with sites expected to begin delivering megawatts and customer revenue in 2027.

Bitfarms to participate in Jefferies Fireside Chat. GlobeNewswire | Bitfarms Ltd. Today at 4:30am PDT TORONTO, Ontario and NEW YORK, March 30, 2026 (GLOBE NEWSWIRE) - Bitfarms Ltd. (NASDAQ/TSX: BITF), a North American digital infrastructure and energy company, will participate in a fireside chat at the Jefferies Virtual Power x Data Center Conference. Jefferies Virtual Fireside Chat Date: Tuesday, March 31, 2026 Time: 10:15 AM Eastern Presenters: CEO, Ben Gagnon and CFO Jonathan Mir Webcast Link About Bitfarms Ltd. Bitfarms is a North American digital infrastructure and energy company that develops and owns data centers and energy infrastructure for high-performance computing workloads, including artificial intelligence. Bitfarms' 2.1 GW North American energy portfolio is comprised of energized, under development, and pipeline MW, located in established data center clusters, with robust access to power and fiber infrastructure. Bitfarms is headquartered in New York, NY and Toronto, ON and traded on Nasdaq and the Toronto Stock Exchange. | Investor Relations Contact: Laine Yonker [email protected] | Media Contact: Tara Goldstein [email protected] | This is a paid placement. For further inquiries, please contact GlobeNewswire directly.

Bitfarms shareholders have approved a plan to exchange each existing share for one share of Keel Infrastructure Corp, a newly incorporated Delaware entity that will become Bitfarms' ultimate parent company. The resolution passed with 173,274,022 votes for and 1,173,232 against. The arrangement, unanimously supported by the board and independent proxy advisers, represents a key step in the company's "pivot to the US". Operations are expected to continue as Keel Infrastructure from 1 April onwards. The special meeting was held virtually, with 374 shareholders represented by proxy. Approximately 29.4% of the 602,727,574 outstanding shares were represented, meeting quorum requirements. The proposal was approved pursuant to an interim order from the Ontario Superior Court of Justice dated 13 February 2026.