6-K - Bitfarms Ltd. | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

Bitfarms reported fiscal year 2025 results with a strategic pivot to HPC/AI infrastructure, a shareholder-approved redomiciliation to the U.S. and rebrand to Keel Infrastructure effective April 1, 2026, and a $520 million liquidity position as of March 27, 2026.

Key Takeaways

1Shareholders approved redomiciliation from Canada to the U.S. and rebrand to Keel Infrastructure, with closing expected on or about April 1, 2026, and new ticker 'KEEL' to begin trading.

2The company reported FY 2025 revenue of $229 million, a 72% year-over-year increase, but had an operating loss of $150 million and a net loss of $209 million.

3As of March 27, 2026, total liquidity was approximately $520 million, comprising $359 million in unrestricted cash and $161 million in unencumbered Bitcoin.

4The company is advancing a 2.2 GW digital infrastructure development pipeline across North America, with commercialization efforts underway at three sites.

5In February 2026, the company fully repaid the $100 million outstanding under its $300 million Macquarie debt facility to strengthen its balance sheet.

6Edie Hofmeister was appointed as Chair of the Board of Directors, bringing extensive U.S. public company, infrastructure, governance, and capital markets experience.

Current Report Details

Event Type

Securities Issuance

Disclosure

Voluntary

Variant

6-K

Items Reported

6-K

Current Report on Form 6-K

Securities Issuance

Results of Operations

Fiscal Year 2025

Metric	Value	Basis	Prior Period
Revenue	$229.00	GAAP	72%
General and Administrative Expenses	$78.00	GAAP	$62.00
Operating Loss	$150.00	GAAP	$28.00
Loss from Continuing Operations	$209.00	GAAP
Loss per Basic and Diluted Share	$0.38	GAAP
Adjusted EBITDA	$29.00	Non-GAAP

Executive & Director Changes

Edie Hofmeister

Chair of the Board of Directors

Appointed

Exhibits (2)

6-K

REPORT OF FOREIGN PRIVATE ISSUER

99.1

EARNINGS RELEASE DATED MARCH 31, 2026