Bitfarms Ltd. has announced that its Board of Directors has approved a plan of arrangement to redomicile the company from Canada to the United States and to rename the parent entity Keel Infrastructure. The change will place the company under Delaware law and will allow it to list its common stock on the Nasdaq and the Toronto Stock Exchange under the new ticker KEEL, with an anticipated effective date of April 1, 2026.
The rebranding reflects a strategic pivot away from Bitcoin mining toward high‑performance computing (HPC) and artificial‑intelligence (AI) infrastructure. By relocating to the U.S., Keel Infrastructure aims to improve access to U.S. capital markets, increase eligibility for index inclusion, and simplify its story for institutional investors. The company’s CEO, Ben Gagnon, said the move will “expand our access to new sources of capital, increase our eligibility for index inclusion, and simplify our story for U.S. investors.”
Financially, the announcement follows the company’s February 5, 2026 disclosure that it will fully repay its $300 million debt facility with Macquarie Group. At that time, Bitfarms reported net liquidity of $698 million, which will be reduced by $50 million after the debt repayment but still leaves ample capital for development. The balance‑sheet strengthening signals confidence in the company’s ability to fund its new HPC/AI strategy.
Management emphasized that existing Bitcoin‑mining operations in Canada and the U.S. will not be affected by the redomiciliation. The company’s CEO noted that the transition is designed to “fortify the U.S. footprint, reduce complexity for customers, and enhance relationships with suppliers and energy providers.” The rebranding also positions the company to compete with peers such as Hut 8, Core Scientific, and Iris Energy that are exploring similar pivots.
The market reacted strongly to the announcement. Shares of Bitfarms rose 16‑17% in the opening trade on February 6 and were up 19.06% by the close on February 7, reflecting investor approval of the strategic shift. Analyst consensus at the time was a “Buy” rating, with 50% recommending a “Strong Buy,” 25% a “Buy,” and 25% a “Hold.”
A special shareholder meeting to vote on the plan is scheduled for March 20, 2026, with a record date of February 13. The redomiciliation will be completed upon receipt of shareholder, stock exchange, and court approvals.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.