TechFlow News, March 31: According to CoinDesk, Bitcoin mining company Bitfarms (Nasdaq: BITF) announced that its shareholders have approved the company’s redomiciliation to the United States and its rebranding as Keel Infrastructure, effective as early as April 1. Its new ticker symbol, KEEL, will begin trading on both the Nasdaq and the Toronto Stock Exchange two business days following the closing of the transaction; the company’s headquarters will relocate to New York.
Bitfarms will pivot from being a pure-play Bitcoin miner to becoming a power-centric digital infrastructure developer, with a strategic focus on electricity-constrained markets such as Pennsylvania, Washington State, and Quebec.
Under its asset management strategy, as of March 27, the company held approximately 2,400 Bitcoins—valued at roughly $161 million—representing part of its total liquidity of approximately $520 million. CEO Ben Gagnon stated the company will sell its Bitcoin “opportunistically,” reinvesting all proceeds into high-performance computing (HPC) and AI infrastructure development.
