Major Bitcoin mining firm pivoting to AI (www.tomshardware.com)

Bitfarms announced a strategic pivot from Bitcoin mining to AI data-center services, aiming to complete the transition by 2027. The company already operates 12 mining sites and has 341 MW of energized capacity (with a 1.3 GW development pipeline), which it plans to redeploy for AI workloads — including converting its Washington site to host liquid-cooled Nvidia GB300 NVL72 server racks and offering GPU-as-a-service. Bitfarms also converted a $300M Macquarie debt facility to finance a new Panther Creek, PA site with ~350 MW potential, giving it the electrical headroom to deploy “several thousand” Nvidia GPU racks without the power-negotiation delays that have hampered hyperscalers. For the AI/ML community this is notable because ready-to-run power and colocation space are bottlenecks for scaling large models; Bitfarms’ energized capacity could accelerate GPU availability for cloud, research, and model-training contracts. But the move is high-risk: Bitfarms posted a $46M Q3 net loss and reduced hashrate guidance after underperforming mining rigs, and converting facilities to AI will likely cost hundreds of millions to billions. If AI demand softens or pricing collapses, owners and lenders could face large losses. Practically, watch for long-term hosting contracts and how quickly Bitfarms can fill racks — their success will influence GPU supply dynamics and regional capacity for large-scale ML training.