Another Bitcoin mining company has announced its transformation into an AI computing power center. Bitfarms CEO: It is more profitable than mining BTC.

Bitfarms, one of the largest Bitcoin mining farms in North America, announced that it will exit Bitcoin mining in two years to focus on AI high-performance computing services. (Background: Marathon leads the sell-off, is a wave of mining companies dumping coming?) (Additional background: How low is the success rate of independent miners in the “Lone Hero”? Full secret of Bitcoin mining) The volatility of Bitcoin prices and the rise in mining difficulty make it increasingly difficult to profit from “digital gold.” On the 13th, North America's major miner Bitfarms announced that it will cease Bitcoin mining within the next two years and fully invest in high-performance computing (HPC) and artificial intelligence infrastructure services. Another mining company has announced its transformation, revealing that the crypto mining industry continues to shift towards AI computing power supply, and mining farms are no longer just machines for extracting tokens, but new “computing power factories” for the digital economy. Mining profits are being squeezed, and AI brings 25 times the revenue potential. The direct reason for Bitfarms' transformation is the reduced opportunity cost of Bitcoin mining returns. The company reported a loss of $46 million in Q3 2025, with internal estimates indicating the cash cost of mining a single Bitcoin reached $82,400. In contrast, the generative AI boom has increased demand for GPU computing power, with industry reports indicating that the revenue potential per megawatt (MW) of AI data centers can be several times higher than mining, while AI hosting contracts can be worth up to $6 million per MW. Bitfarms is not the first mining company to do this; peers like Cipher and Terawulf are also collaborating with tech giants like SoftBank and Google to layout AI, with about 70% of large mining companies having initiated diversification revenue plans. Washington state's 18 MW mining farm is being transformed into a liquid-cooled GPU hub. It is understood that Bitfarms' first wave of transformation will target the 18 MW mining farm in Washington state, expected to be completed by December 2026, and has secured $128 million in funding. The hardware core will introduce Nvidia GB300 GPUs, with the company adopting a liquid cooling system, achieving rack power density of up to 190 kW, and controlling PUE (Power Usage Effectiveness) between 1.2 and 1.3. Facing a future business model shift from computing power consumers to suppliers, offering GPUaaS and hosting services. CEO Ben Gagnon emphasizes: Although the Washington mining farm accounts for less than 1% of our total developable mining farms, we believe that transforming it into GPU as a service could generate higher net operating income than our previous Bitcoin mining business, thus providing the company with a strong cash flow foundation to pay for operations and gradually contribute to capital expenditures as we phase out Bitcoin mining operations. The company estimates that the overall investment is less than 1% of the total development portfolio, yet it can unleash massive production capacity, showing that the natural energy and facility advantages of the mining farm are sufficient to support AI upgrades. However, high capital expenditures and competition with cloud giants remain risks. Nevertheless, transformation is not easy. The cost of $8 million to $11 million per MW means Bitfarms must manage capital effectively to avoid project delays or performance not meeting expectations. Additionally, the company will be competing directly with cloud service providers like Amazon AWS, Microsoft Azure, and CoreWeave. Following the announcement, combined with the decline in Bitcoin prices, Bitfarms' stock price fell 18.47% last night, reflecting market concerns about execution risks. In conclusion, Bitfarms is leveraging its existing power and site advantages to shift from Bitcoin mining to AI data centers. Although capital pressure, technology integration, and market competition cannot be underestimated, if it can land on schedule, stable GPU contract income will bring the company higher predictable cash flow, opening up greater imaginative space for the overall mining industry towards AI infrastructure. Related reports: Comprehensive analysis of cryptocurrency mining machines: from CPU to ASIC, the evolution of mining hardware. This man wants to send Bitcoin mining machines to space: infinite sunlight + zero cooling costs make it a BTC mining paradise. The US-China tariff war affects CleanSpark, a Bitcoin mining company facing $185 million in tariffs due to imported BTC mining machines. (Another Bitcoin mining company announces transformation into AI computing center, Bitfarms CEO: earning more than mining BTC) This article was first published on BlockTempo, the most influential blockchain news media.