Overview
- Directors approved a plan to move the legal parent to the United States, with a shareholder vote set for March 20 and a targeted April 1 closing if approvals are obtained.
- The new parent will be incorporated in Delaware and is expected to trade on Nasdaq and the Toronto Stock Exchange under the ticker KEEL.
- Bitfarms began repaying its $300 million Macquarie credit facility with an initial $100 million tied to the Panther Creek site and reported $698 million in liquidity as of Feb. 5, largely in cash and bitcoin.
- The company will keep existing sites in Canada and the U.S., with its New York City office designated as the sole headquarters after the move.
- Shares jumped following the announcement, which capped a year-long strategic review and aligns with a wider turn by bitcoin miners toward AI and high-performance computing infrastructure.