Bitfarms shares surge 20.53% intraday as U.S. redomiciliation to Keel Infrastructure and HPC/AI infrastructure pivot drive optimism.

Bitfarms surged 20.53% intraday following the announcement of its U.S. redomiciliation plan and rebranding to Keel Infrastructure, positioning the company to pivot from Bitcoin mining to high-performance computing (HPC)/AI infrastructure. The strategic move, approved by the board, aims to enhance access to U.S. capital markets, improve index inclusion prospects, and simplify the business narrative for American investors. CEO Ben Gagnon emphasized the transition’s benefits, including streamlined operations and strengthened relationships with suppliers and energy providers. Additionally, the company announced the full repayment of its $300 million Macquarie debt facility, leveraging $698 million in net liquidity to strengthen its balance sheet. These developments, coupled with the rebranding to reflect a focus on infrastructure, signaled a clear strategic shift toward HPC/AI growth, driving immediate investor optimism.