Bitfarms Shares Surge on Plans to Redomicile to U.S. as Keel

The Toronto-based company saw its stock climb to 2.72 Canadian dollars following the news of the proposed "plan of arrangement." This corporate migration marks the culmination of a comprehensive strategic review intended to streamline operations and tap into the deeper liquidity of American financial markets. Once the transition is finalized, the new parent corporation is expected to operate under the name Keel Infrastructure.

A Strategic Pivot to AI and Capital Markets

Chief Executive Ben Gagnon characterized the move as the official launch of the company’s final phase in its pivot to the U.S. Beyond its roots in cryptocurrency mining, the firm is aggressively targeting the high-performance computing (HPC) and artificial intelligence sectors. According to Gagnon, the transition will simplify the company's narrative for American investors and increase its eligibility for inclusion in major stock indices.

The relocation is expected to provide several key operational advantages:

• Expanded access to diversified and deep pools of American capital.
• Enhanced eligibility for major index inclusion to drive institutional ownership.
• Improved relationships with domestic energy providers and equipment suppliers.

By establishing a firmer domestic footprint, the company aims to reduce administrative complexity for potential customers. Management stated that the move will fortify its ability to execute on infrastructure development opportunities that require significant power and specialized data center capabilities. The board’s approval signals a shift away from its Canadian roots in favor of a more competitive positioning against other U.S.-listed digital infrastructure giants.