New York, Feb 7, 2026, 05:41 EST — The market has shut for the day.
- Bitfarms finished Friday at $2.14, climbing roughly 25% for the day.
- The company is aiming to shift its legal headquarters to the U.S. and will change its name to Keel Infrastructure, pending a shareholder vote on March 20.
- Bitfarms notified it will repay its Macquarie debt facility, adding it holds $698 million in net liquidity.
Bitfarms surged 25.2% to close at $2.14 on Friday, with roughly 59 million shares changing hands, after announcing plans to relocate its headquarters to the U.S. and roll out a rebrand.
Bitfarms’ board has given the green light to a Canadian “plan of arrangement”—a process handled in court—to shift its legal base from Canada to the U.S. Once complete, the new parent will be known as Keel Infrastructure, incorporated in Delaware. CEO Ben Gagnon described this as “the final phase” of Bitfarms’ U.S. strategy, adding that the company is “no longer a Bitcoin company.” Instead, Bitfarms is rebranding itself as a player in high-performance computing (HPC) and AI data center development. 1
Timing is key here: bitcoin-linked stocks have been tossed around by swings in the crypto tape, and data-center power is now a hot commodity. Bitcoin climbed about 2.8% to around $67,744 on Saturday.
Bitfarms has scheduled its shareholder vote for March 20, giving voting rights to investors on record as of Feb. 13. Proxy materials head out in advance. The company said it’s targeting April 1 for completion of the redomiciliation—pending shareholder, stock exchange, and court sign-offs. 2
On Feb. 5, Bitfarms formally notified Macquarie Group’s Commodities and Global Markets division it would pay off the remaining balance on its $300 million debt facility. By Feb. 4, $100 million of that had been drawn, according to the company. CFO Jonathan Mir described the repayment as “a strategic move that strengthens our balance sheet,” adding it’s expected to boost flexibility as Bitfarms pushes its Panther Creek project closer to the crucial “notice to proceed” construction milestone.
Bitfarms’ proposal calls for every common share to convert into a single Keel common share, according to the company. The new stock is set to list on both Nasdaq and the Toronto Stock Exchange as “KEEL.” 3
BITF jumped Friday, part of a rally that saw tech stocks climb as U.S. equities rebounded and traders embraced risk again. 4
Bitcoin miners listed in the U.S. surged heading into the weekend. Marathon Digital ended the day up nearly 22%, CleanSpark matched that jump at around 22%, while Riot Platforms closed with a gain of roughly 20%.
The company submitted its redomiciliation plan to the U.S. Securities and Exchange Commission on Friday, disclosing the move in a Form 6‑K filing.
Still, several sign-offs stand in the way of the shift, and now the company wants investors to value a business caught between a transition and the hard grind of execution. If approvals stall—or if crypto risk appetite takes another big hit—the shares could be under pressure once more.
Next week, attention turns to the Feb. 13 record date, with traders scanning for updates before the March 20 shareholder meeting set for 9:00 a.m. ET, according to the company’s investor site. 5
