By the end of 2027, Canadian company Bitfarms will stop mining Bitcoin due to large losses.
The company owns 12 data centers in North America with a combined capacity of 341 megawatt-hours. However, its financial report for Q3 2025 shows that it is failing to turn a profit. From July to September, the organization mined only 520 BTC, a 6,3% decrease from the second quarter. Its revenue amounted to $69 million, but high expenses left the company $46 million in the red.
To begin generating profits, Bitfarms’ management decided to shift its focus from cryptocurrency mining to high-performance computing services, used by, for example, AI software developers. These operations are planned to be processed using the Nvidia GB300 series AI accelerator.
Nvidia GB300 AI accelerator
«We believe that converting just one data center in Washington, D.C., to provide high-performance computing services on GPUs will generate more revenue for us than Bitcoin mining,» said Bitfarms CEO Ben Gagnon.
The company’s employees will gradually phase out digital asset mining over two years, planning to cease operations completely by the end of 2027. Stock market participants reacted unenthusiastically to this news and began dumping Bitfarms shares, causing them to fall 18% in the past 24 hours. Since October 15, when the bearish trend began, the company’s stock price has plummeted 61%, apparently primarily due to the decline in the price of BTC.
Bitfarms’ stock price crashes