Bitfarms Shifts from Bitcoin Mining to AI HPC Services

Bitfarms, a leading publicly listed Bitcoin mining company in the U.S., is shifting its focus to become a provider of High Performance Computing HPC services for Artificial Intelligence AI companies. This decision comes after the company reported significant losses of 46 million for Q3 2025 and aims to explore new revenue streams for stability.
To facilitate this transition, Bitfarms has secured over 588 million from a convertible note offering and a 300 million debt facility. The company has also sold its last Latam site in Paraguay for 30 million, establishing a complete North American energy footprint focused on markets with AI workload demand.
Unlike other companies adapting their facilities for the current generation of Nvidia GPUs, Bitfarms is betting on the upcoming Vera Rubin VR infrastructure. Recent reports suggest that these chips will have a Thermal Design Power TDP of 2.3 kW per GPU, which may strain current data centers. Bitfarms aims to be the first provider ready for VR chips, with its Washington site designated for this deployment.
During the 2025 Q3 earnings call, CEO Ben Gagnon emphasized the importance of having the right infrastructure ready for the VR chips to capture companies seeking fast deployment. He noted that much of the infrastructure being built now will not be compatible with the next generation of GPUs. Gagnon also suggested that AI companies may be willing to pay higher rates for swift deployment to start monetizing their assets.
It remains to be seen if Gagnon s predictions will hold true and if Bitfarms can successfully position itself as a leading provider for Vera Rubin datacenter support, thereby attracting demand for its services.