Welcome to our dedicated page for Bitfarms SEC filings (Ticker: BITF), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Bitfarms Ltd. (BITF) SEC filings page provides access to the company’s regulatory disclosures as a foreign private issuer with shares listed on Nasdaq and the Toronto Stock Exchange. Bitfarms files reports on Form 40-F and Form 6-K with the U.S. Securities and Exchange Commission and also submits financial statements, management’s discussion and analysis, and material change reports to Canadian regulators via SEDAR+.
For investors analyzing Bitfarms as a North American energy and digital infrastructure company, these filings contain detailed information on its high-performance computing and Bitcoin mining operations, its North American energy portfolio, and its evolving strategy to focus on HPC/AI infrastructure. Recent Form 6-K filings reference interim condensed consolidated financial statements and MD&A for the three and nine months ended September 30, 2025, as well as CEO and CFO certifications of interim filings.
Filings also document key financing arrangements, including the note indenture for Bitfarms’ convertible senior notes due 2031, forms of capped call confirmations, and disclosures related to a project-specific financing facility with Macquarie Equipment Capital. Additional 6-K submissions incorporate material change reports and press releases on topics such as the pricing and closing of convertible notes, warrant issuances, corporate governance changes, and strategic initiatives tied to the company’s U.S. pivot and HPC/AI infrastructure plans.
On Stock Titan, these SEC filings are updated as they are made available through EDGAR, and AI-powered tools can help summarize complex documents such as financial statements, MD&A, note indentures, and other exhibits. This allows users to quickly understand how Bitfarms reports its operating performance, capital structure, risk factors, and progress on its North American energy and compute infrastructure strategy directly from its official regulatory submissions.
Keel Infrastructure Corp. director Edith Hofmeister filed an initial ownership report showing direct holdings in the company’s equity. She reports 240,001 Common Shares held directly, plus stock options over a combined 280,000 Common Shares at exercise prices between $0.72 and $2.75 per share with expirations from 2027 through 2029. Footnotes clarify that option grants from 2022, 2023, and 2024 are fully or partially vested, with the most recent grant vesting in four equal installments through June 18, 2026.
Keel Infrastructure Corp. director Brian Howlett filed an initial statement of beneficial ownership, reporting direct holdings of common shares and stock options. He holds 144,946 common shares directly. He also holds stock options over 393,750 common shares at an exercise price of $1.36 per share expiring on June 30, 2028, 100,000 common-share options at $2.75 per share expiring on December 22, 2028, and 60,000 options at $1.87 per share expiring on December 18, 2029. Footnotes state the 393,750 and 100,000 option grants are fully vested, while the 60,000-option grant vests in equal installments between December 18, 2024 and June 18, 2026.
Keel Infrastructure Corp. director Amy Freedman reported her initial holdings as an insider. She holds stock options to acquire 150,000 and 60,000 common shares at an exercise price of $1.87 per share, both expiring on December 18, 2029, plus 69,568 common shares directly. Footnotes note these options were granted on December 18, 2024 and vest in scheduled installments.
Keel Infrastructure Corp. director and Chief Executive Officer Benjamin Gagnon reported his initial equity position. He directly holds 1,073,269 common shares, multiple tranches of stock options over various exercise prices and expirations, and 646,738 restricted stock units that vest in three equal installments starting on July 10, 2026.
Keel Infrastructure Corp., a Delaware corporation, has become the new parent of Bitfarms Ltd. through a 1-for-1 share exchange as part of a U.S. redomiciliation plan. Former Bitfarms shareholders received one share of Keel common stock for each Bitfarms share, in a transaction exempt from registration under Section 3(a)(10) of the Securities Act.
Keel will succeed Bitfarms as the listed entity, with its common stock trading on Nasdaq and the TSX under the symbol “KEEL” beginning April 6, 2026, when Bitfarms shares are delisted. Keel also became co‑obligor on Bitfarms’ US$588 million 1.375% convertible senior notes due January 15, 2031, and will report as a U.S. domestic registrant.
The board and executive team largely carry over from Bitfarms, and Keel assumed several existing long-term incentive plans, amending them so awards settle in Keel common stock. Keel’s new charter authorizes up to 1.5 billion common shares and 120 million preferred shares, includes various Delaware-style anti‑takeover and governance provisions, and expands indemnification protections for directors and officers.
Bitfarms Ltd. files its annual report and details a major strategic pivot from pure Bitcoin mining toward high‑performance computing (HPC) and AI data center infrastructure. The company plans a U.S. redomiciliation into Delaware‑based Keel Infrastructure Corp., with each Bitfarms share exchanging for one Keel common share.
Bitfarms positions itself as a North American digital and energy infrastructure platform, built on a 2.2 GW power capacity pipeline, including 648 MW of secured gross data center capacity and 1,513 MW of additional identified capacity across U.S. and Québec sites. These assets are being repurposed from mining toward HPC data centers targeting hyperscalers, cloud providers, and AI firms, with initial data center revenue anticipated in 2027.
Bitcoin mining remains a legacy cash‑generation business: as of December 31, 2025, Bitfarms operated 113,649 ASIC miners delivering 14.8 EH/s, with one mining pool representing 88% of 2025 revenue. For 2025, the company reported a loss from continuing operations of $208.5 million and highlights significant regulatory and power‑cost risks, especially in Québec and PJM markets. As of March 30, 2026, Bitfarms reports approximately $520 million in liquidity and has issued $588 million of 1.375% Convertible Senior Notes due 2031 to help fund its HPC build‑out.
Bitfarms Ltd. is transitioning to U.S. domestic issuer status and U.S. GAAP reporting, restating all 2025 interim results and preparing its annual report on Form 10-K under U.S. rules. The company generated Q1 2025 revenue of $66,620 thousand, up from $50,317 thousand a year earlier, but reported a net loss of $55,553 thousand versus prior net income of $2,653 thousand.
The loss reflects higher energy and hosting costs, derivative losses, and an impairment charge of $18,824 thousand, including $17,504 thousand tied to its Argentina asset group. Bitfarms completed the stock-for-stock acquisition of Stronghold Digital Mining with total consideration of $144,695 thousand and sold its Yguazu, Paraguay data center for total consideration of $63,272 thousand, recognizing a gain of $5,237 thousand. At March 31, 2025, the company held digital assets valued at $123,232 thousand, total assets of $771,703 thousand and stockholders’ equity of $661,434 thousand, with 553,644,380 common shares outstanding.
Bitfarms reported fiscal 2025 results showing rapid growth but deep losses as it pivoted from Bitcoin mining to high-performance computing (HPC) infrastructure. Revenue from continuing operations rose to $229.3 million, up about 72% from 2024, driven by its North American digital infrastructure portfolio.
Despite this growth, Bitfarms posted a net loss of $284.5 million, sharply higher than the prior year, with a continuing-operations loss of $208.5 million and a gross loss of $18.9 million. Adjusted EBITDA from continuing operations was positive at $28.9 million, reflecting underlying cash profitability after excluding non-cash and one-time items.
As of March 27, 2026, the company held about $520 million in liquidity, including $359 million in cash and $161 million in unencumbered Bitcoin, and is advancing a 2.2 GW North American development pipeline. Shareholders approved a U.S. redomiciliation and rebrand to Keel Infrastructure, with Keel shares expected to trade on Nasdaq and TSX under “KEEL” following closing.
Bitfarms Ltd. reports that shareholders have overwhelmingly approved a statutory plan of arrangement to redomicile the company from Canada to the United States and rebrand as Keel Infrastructure. At the special meeting, approximately 99.3% of votes cast supported the U.S. redomiciliation and related arrangement.
The meeting had participation from holders of 177,194,069 common shares, representing about 29.4% of shares outstanding as of February 13, 2026. Completion of the redomiciliation, expected on or about April 1, 2026, remains subject to court approvals and other conditions. Keel common stock is expected to trade on Nasdaq and the TSX under the ticker “KEEL” following completion, once all listing requirements are met.
Bitfarms Ltd. has scheduled the release of its fourth quarter 2025 financial results for March 31, 2026, before the market opens. Management will host a conference call the same day at 8:00 a.m. EST, with a live webcast and replay available through its investor site.
The company describes itself as a North American digital infrastructure and energy company focused on high-performance computing workloads, including artificial intelligence. It highlights a 2.1 GW North American energy portfolio across energized, under-development, and pipeline megawatts in established data center clusters.