BroadChain has learned that Bitcoin mining firm Bitfarms released its fiscal year 2025 results on March 31, reporting annual revenue of $229 million—a 72% year-over-year increase.
As of March 27, Bitfarms held a combined total of roughly $520 million in cash and Bitcoin, including $359 million in cash and approximately $161 million in unstaked Bitcoin.
The company is progressing with its 2.2 GW data infrastructure development pipeline across North America, with key projects underway in Pennsylvania, Washington State, and Quebec.
Additionally, shareholders have approved Bitfarms’ relocation from Canada to the United States. The rebrand to Keel Infrastructure is set to take effect on April 1, accompanied by a ticker symbol change from BITF to KEEL.
Bitfarms noted it is steadily shifting its focus from Bitcoin mining toward HPC and AI data center infrastructure.