Bitfarms is transitioning to the US and focusing on AI.

Bitfarms announced plans to relocate from Canada to the United States. The company will now operate under the name Keel Infrastructure and shift its focus from bitcoin mining to building high-performance computing and artificial intelligence data centers.

This change represents a significant transformation in the company’s strategy. Bitfarms has also begun repaying a $300 million line of credit. The first repayment was made with $100 million from the Panther Creek site.

Following this news, Bitfarms (BITF) shares increased by 18%.