Bitfarms (BITF) Shareholders Approve U.S. Redomiciliation and Rebrand to Keel Infrastructure

Core Viewpoint - Bitfarms Ltd. has received shareholder approval for a statutory plan to redomicile operations from Canada to the US and rebrand as Keel Infrastructure Corp, indicating a strategic pivot aimed at enhancing long-term shareholder value [1][4]. Group 1: Shareholder Approval - The vote for the redomiciliation and rebranding was held at a virtual Special Meeting of Shareholders, with a single agenda item, the Arrangement Resolution, which required at least two-thirds approval to pass [2]. - The resolution received overwhelming support, with 99.3% of votes cast in favor [2]. Group 2: Redomiciliation Details - The redomiciliation process allows existing Bitfarms common shares to be exchanged on a one-for-one basis for shares in the newly incorporated Keel Infrastructure Corp, which will trade under the ticker KEEL on NASDAQ and the Toronto Stock Exchange [3]. - The anticipated completion date for the redomiciliation process is around April 1, 2026, pending court and other closing conditions [3]. Group 3: Company Overview - Bitfarms operates as a blockchain infrastructure company, focusing on cryptocurrency mining through data centers powered by hydroelectric energy in locations such as Québec, Paraguay, and Washington [4]. - CEO Ben Gagnon emphasized that this transition marks the company's entry into a new phase, following a thorough review of opportunities to enhance shareholder value [4].