Bitfarms, one of many largest publicly listed bitcoin miners, has determined to desert its origins and pivot to the HPC market, shedding its Latam websites to grow to be an organization with a whole North American power footprint. Will this transfer work for the corporate?
Bitfarms: From Bitcoin Mining to AI HPC
Bitfarms, one of many high publicly listed Bitcoin mining corporations within the U.S., is now altering its focus to grow to be a supplier of Excessive Efficiency Computing (HPC) providers for AI (Synthetic Intelligence) corporations.
After reporting disastrous losses reaching as much as $46 million for Q3 2025, the corporate introduced its pivot to those new actions to discover a brand new path towards stability, migrating all of its efforts to attain this job as quickly as doable.
Throughout the identical earnings name, Bitfarms’ CEO Ben Gagnos acknowledged that they anticipated this pivot to be accomplished by This autumn 2026, as Nvidia’s newest AI GPU technology, codenamed Vera Rubin, is anticipated to ship in the identical interval.
To this finish, Bitfarms has allotted a warfare chest of over $588 million from a convertible observe providing and a $300 million debt facility to begin the work wanted to adapt its infrastructure to those new workloads.
As well as, Bitfarms not too long ago organized the sale of its final Latam web site, in Paraguay, for $30 million, turning into an organization with a full North American power footprint, specializing in markets with demand for AI workloads.
The Vera Rubin Gambit
In opposition to different corporations which might be betting on adapting their amenities for the present technology of Nvidia GPUs, codenamed Blackwell, that are utilized by most corporations within the AI trade, together with OpenAI.
Bitfarms has determined to place its full pressure behind Vera Rubin (VR), the brand new infrastructure that Nvidia CEO Jensen Huang introduced was already in manufacturing on the latest Client Electronics Present (CES).
Current unconfirmed stories point out that these chips could have a Thermal Design Energy (TDP) of two.3 kW per GPU, an envelope that will likely be taxing for present knowledge facilities servicing Blackwell masses. Second-generation Blackwell chips pull 1.4 kW in whole, and adapting new knowledge facilities to this energy envelope will take time and investments.
Bitfarms is working to be the primary supplier prepared for VR chips, and its Washington web site has grow to be the principle level for this deployment, as Gagnon has acknowledged that it might “probably produce extra web working revenue than we have now ever generated with Bitcoin mining, offering the corporate with a robust cash-flow basis.”
Throughout Bitfarm’s 2025 Q3 earnings name, Gagnon identified that simply having this infrastructure prepared on the proper time will likely be a big benefit, as they’ll be capable to seize corporations aiming for quick deployment of those chips.
“Loads of the infrastructure that’s being constructed proper now shouldn’t be going to be appropriate with the subsequent technology. And as corporations allocate all this cash into these Vera Rubin GPUs, they’re going to be very economically incentivized to deploy them,” he acknowledged.
Moreover, Gagnon bets that AI gamers will likely be incentivized to deploy these belongings swiftly, even paying greater charges to start operations earlier than their counterparts. “Would you relatively sit in your GPUs and never deploy them? Or would you relatively pay a better infrastructure expense to be able to deploy them and begin monetizing the asset?” he requested.
It stays to be seen whether or not Gagnon’s forecasts are correct, and Bitfarms turns into one of many first corporations providing datacenter assist for Vera Rubin, amassing demand for its providers.
Learn extra: Bitfarms Exits Latam After Paraguayan Website Sale
FAQ ❓
- What main change is Bitfarms making in its enterprise focus? Bitfarms is pivoting from Bitcoin mining to offering Excessive Efficiency Computing (HPC) providers aimed toward synthetic intelligence corporations.
- Why is Bitfarms shifting its focus now? After dealing with important losses of $46 million in Q3 2025, the corporate is pursuing new income streams to stabilize its operations.
- What monetary assets is Bitfarms using for this transition? The corporate has secured over $588 million from convertible notes and a $300 million debt facility to assist adapt its infrastructure for HPC providers.
- How is Bitfarms positioning itself in relation to Nvidia’s new GPU technology? Bitfarms goals to be the primary supplier prepared for Nvidia’s Vera Rubin chips, that are anticipated to supply elevated efficiencies for AI workloads in comparison with the present Blackwell technology.
