Bitfarms, one of many largest publicly traded Bitcoin miners, has determined to desert its roots and pivot to the HPC market, abandoning its Latin American base and changing into an organization with a completely North American power footprint. Will this transfer work for the corporate?
Bitfarms: From Bitcoin mining to AI HPC
Bitfarms, one of many prime publicly traded Bitcoin mining firms within the US, is now shifting its focus to changing into a supplier of excessive efficiency computing (HPC) providers for AI (synthetic intelligence) firms.
After reporting disastrous losses amounting to as much as $46 million within the third quarter of 2025, the corporate introduced that it might pivot to those new actions in an effort to search a brand new path in the direction of stability and shift all efforts to realize this activity as quickly as attainable.
In the identical earnings name, Bitfarms CEO Ben Gagnos mentioned he expects this pivot to be accomplished by the fourth quarter of 2026, as Nvidia’s newest AI GPU (codenamed Vera Rubin) is scheduled to ship across the identical time.
To realize this goal, BitFarms has allotted over $588 million in battle chest from a convertible word concern and $300 million in debt services to start the work essential to adapt its infrastructure to those new workloads.
Moreover, Bitfarms not too long ago organized the sale of its final Latin American website in Paraguay for $30 million, reworking it into an organization centered on markets with demand for AI workloads and totally leveraging North American power.
Vera Rubin’s technique
That is in distinction to different firms which are betting on adapting their tools to the present era of Nvidia GPUs, code-named Blackwell, which most firms within the AI trade, together with OpenAI, are utilizing.
Bitfarms has determined to focus all its efforts on Vera Rubin (VR), a brand new infrastructure that Nvidia CEO Jensen Huang introduced on the current Shopper Electronics Present (CES) as already in manufacturing.
Current unconfirmed reviews point out that these chips have a thermal design energy (TDP) of two.3 kW per GPU, which is on the threshold for present knowledge facilities serving Blackwell hundreds. Second-generation Blackwell chips eat a complete of 1.4 kW, and adapting new knowledge facilities to this energy envelope takes time and funding.
Bitfarms is working to be the primary supplier to allow VR chips, with the corporate’s Washington website being the first hub for this rollout, as Gagnon says it has “the potential to generate extra internet working revenue than we have ever generated from Bitcoin mining, offering a robust money movement basis for the corporate.”
Throughout Bitfarm’s Q3 2025 earnings name, Gagnon identified that merely having this infrastructure prepared on the proper time will likely be an enormous benefit as it’s going to appeal to firms trying to shortly deploy these chips.
“Loads of the infrastructure that is being constructed immediately will not be going to be appropriate with the subsequent era, and with firms allocating all this cash to those Vera Rubin GPUs, there’s going to be a whole lot of financial incentive to deploy them,” he mentioned.
Moreover, Gagnon is betting that AI gamers will likely be incentivized to deploy these belongings shortly and be prepared to pay greater charges to get operational earlier than different gamers. “Do you simply use GPUs with out deploying them? Or do you pay greater infrastructure prices to deploy GPUs and begin monetizing your belongings?” he requested.
Whether or not Gagnon’s predictions are correct stays to be seen, however Bitfarms will likely be one of many first firms to supply knowledge heart assist to Vera Rubin, and its providers are gaining demand.
learn extra: BitFarms withdraws from Latin America following sale of Paraguay website
Continuously requested questions ❓
- What main modifications is Bitfarms making in its enterprise focus? Bitfarms is pivoting from Bitcoin mining to offering excessive efficiency computing (HPC) providers for synthetic intelligence firms.
- Why is Bitfarms shifting focus now? After dealing with important losses, $46 million Looking forward to the third quarter of 2025, the corporate is pursuing new income sources to stabilize its operations.
- What monetary sources is Bitfarms leveraging for this transition? The corporate has secured greater than $588 million convertible banknotes and 300 million {dollars} Debt services to assist adapt your infrastructure to HPC providers.
- How is Bitfarms positioning itself in relation to Nvidia’s new GPU era? Bitfarms goals to be the primary supplier to assist Nvidia’s providers vera rubin The chip is anticipated to enhance effectivity for AI workloads in comparison with the present Blackwell era.
