The former Bitcoin mining company says it is shifting toward artificial intelligence (AI systems that automate tasks) while posting a wider first-quarter loss.
Bitfarms reported a $145 million net loss for the first quarter as it begins rebranding under the Keel name and pivots away from its former Bitcoin mining focus. The company’s move reflects a broader industry trend in which miners seek new revenue streams as mining economics tighten and demand for computing power grows in AI-related markets.