Bitfarms Shifts Gears to AI Power Play Amidst Declining Bitcoin Profits

Canadian Bitcoin mining firm Bitfarms reported a significant $36 million net loss in the first quarter of 2025, driven by a strategic shift away from cryptocurrency mining. The company is investing heavily in artificial intelligence (AI) technology using its existing infrastructure to power new AI data centers and cloud services. This move comes as Bitcoin’s price volatility remains high, further impacting mining profits.