Bitfarms переходит на искусственный интеллект после убытков в $46 млн и сворачивания майнинга Translation: Bitfarms shifts to artificial intelligence after reporting $46 million losses and scaling back mining

Bitfarms has announced a gradual reduction in its cryptocurrency mining operations, shifting its focus towards developing infrastructure for artificial intelligence.

The initial phase involves the conversion of an 18 MW farm located in Washington state. This new project anticipates a capacity of up to 190 kW per rack, with completion expected by December 2026.

«Despite this facility accounting for less than 1% of our overall portfolio, we believe that transitioning it to a ‘GPU-as-a-Service’ model has the potential to yield greater net operating profits than Bitcoin mining,» stated Bitfarms CEO Ben Gényon.

The company has entered into an agreement with an undisclosed U.S. data center infrastructure provider for a deal totaling $128 million.

The partner will be responsible for delivering IT equipment and construction materials for facilities with a cumulative capacity of 18 MW.

Bitfarms is expected to fully restructure its business by 2027.

This announcement coincides with the release of the third-quarter report, in which the company reported a net loss of $46 million compared to $24 million a year prior.

Bitfarms’ revenue rose by 156% year-over-year to $69 million, although it fell 16% short of analysts’ expectations.

During the last quarter, the firm mined 520 BTC at an average cost of $48,200. Currently, it manages 1,116 BTC (approximately $108 million at the current exchange rate).

Bitfarms ranks 44th among the largest holders of Bitcoin among public companies.

The miner’s shares plummeted nearly 18% in one day to $2.60, and more than 50% over the past week.

Recall that in November, the CEO of MARA predicted difficult times for miners due to increasing competition and declining profitability.