Bitfarms to Redomicile to U.S. as Keel Infrastructure and Repay Macquarie Facility

An update from Bitfarms ( (TSE:BITF) ) is now available.

On February 6, 2026, Bitfarms announced that its board has approved a plan of arrangement to redomicile the company from Canada to the United States, with the ultimate parent to be incorporated in Delaware and expected to operate under the new name Keel Infrastructure. The move, which follows a year-long strategic review and an earlier shift toward U.S. GAAP reporting, is designed to deepen the company’s U.S. footprint, broaden access to capital, improve eligibility for index inclusion, and align its branding with its pivot away from pure Bitcoin mining toward infrastructure-first ownership and development of HPC/AI data centers across North America. A special shareholder meeting is scheduled for March 20, 2026 to vote on the plan, with completion targeted for around April 1, 2026, after which New York will become the sole principal executive office and Keel Infrastructure is expected to trade on Nasdaq and the TSX under the ticker KEEL, while existing Canadian and U.S. operations continue uninterrupted. Separately, Bitfarms reported that on February 5, 2026 it gave notice to fully repay all amounts outstanding under its $300 million Macquarie debt facility, of which $100 million had been drawn, a step that will reduce net liquidity by $50 million but still leave the company with $698 million in net liquidity as of February 5, 2026. Management described the early retirement of the facility, initially entered into in April 2025 and converted to project-specific financing for the Panther Creek campus in October 2025, as a balance sheet-strengthening move that increases financial flexibility to secure more cost-effective project financing and supports continued development at its Panther Creek, Washington and Sharon sites, with implications for a cleaner capital structure and greater optionality as the firm executes its HPC/AI infrastructure strategy.

The most recent analyst rating on (TSE:BITF) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.

Spark’s Take on TSE:BITF Stock

According to Spark, TipRanks’ AI Analyst, TSE:BITF is a Neutral.

Bitfarms’ overall score is primarily impacted by its financial performance, which is weighed down by consistent losses and negative cash flows. The earnings call provides a positive outlook with strategic initiatives, but technical analysis and valuation remain weak, reflecting ongoing challenges.

To see Spark’s full report on TSE:BITF stock, click here.

More about Bitfarms

Bitfarms Ltd. is a North American digital infrastructure and energy company that builds and operates vertically integrated, high-performance computing data centers and energy infrastructure, with a legacy business in Bitcoin mining. The company manages a 2.1 GW North American energy portfolio concentrated in data center hubs with strong power and fiber access, and operates sites across the Americas while being listed on the Nasdaq and Toronto Stock Exchange and headquartered in New York and Toronto.

Average Trading Volume: 5,484,796

Technical Sentiment Signal: Sell

Current Market Cap: C$1.57B

See more data about BITF stock on TipRanks’ Stock Analysis page.