Bitfarms Winds Down Bitcoin Mining, Looking to More Profitable HPC/AI (BITF:NASDAQ)

Bitfarms winds down bitcoin mining, looking to more profitable HPC/AI (BITF:NASDAQ)

Bitfarms shifts from bitcoin mining to AI infrastructure, expecting stronger cash flow.

Bitfarms to Wind Down Bitcoin Mining to Focus on AI Data Centers

Bitfarms Ltd., one of the largest cryptocurrency miners, said it plans to wind down those operations over the next two years and focus on providing infrastructure to generate computing power for artificial intelligence applications.

Bitfarms Abandons Crypto Mining, Goes All-In on AI Compute

Facing shrinking margins and rising costs, Bitfarms plans to abandon crypto mining by 2027, redirecting its resources toward… The post Bitfarms Abandons Crypto Mining, Goes All-In on AI Compute appeared first on IMP.NEWS.

Bitfarms Says AI-Compute Pivot Could Make More Than Bitcoin Mining Ever Did

Bitcoin miner Bitfarms has announced plans to pull back on Bitcoin mining in the coming two years and pivot toward AI-compute centers.Bitfarms CEO …

Bitfarms Drops 18% After Plan To Exit Bitcoin Mining

Bitfarms plans to end Bitcoin mining by 2027, converting the 18MW Washington facility by December 2026. The Q3 results are a $46 million net loss, $69 million in revenues, and the mining of 520 Bitcoins. With nearly $1 billion of cash, the stock declined by 18 percent due to cautious investment sentiment regarding the AI transition. Bitfarms has revealed a restructuring plan that involves the company ceasing operations related to the mining of B…

Block reward miners can’t pivot to AI fast enough

Miners face rising costs and mounting debt as network strain drives a shift toward AI, raising concerns over long term security of the BTC ecosystem. The post Block reward miners can’t pivot to AI fast enough appeared first on CoinGeek.