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Bitfarms Stock Pumps as It Dumps Bitcoin Mining for AI With Name Change, Move to US
Yahoo Finance· 2026-02-06 19:52
Core Viewpoint - Bitfarms is transitioning from Bitcoin mining to AI infrastructure, rebranding as Keel Infrastructure to focus on high-performance computing (HPC) and AI data centers in North America [1][2]. Company Transition - The company announced its intention to abandon Bitcoin mining in November, aiming to improve net operating incomes by shifting to AI infrastructure [1]. - CEO Ben Gagnon emphasized that the new name reflects the company's infrastructure-first approach and its commitment to building future computing infrastructure [2]. - A shareholder vote is scheduled for March 20 to approve the transition, which is part of a strategic review by the board over the past year [3]. Market Reaction - Following the announcement, shares of Bitfarms (BITF) increased by 27%, trading around $2.17, amid a broader recovery in crypto equities [2]. - The company plans to complete its U.S. redomiciliation by April 1 and will trade on Nasdaq under the ticker KEEL [2]. Industry Context - Other publicly traded Bitcoin miners, such as Riot Platforms and MARA Holdings, are also shifting towards AI, indicating a broader trend in the industry [4]. - The move to AI may provide a more stable revenue stream for miners facing uncertainty due to fluctuating Bitcoin prices, which recently dropped significantly [4][5].
X @CoinDesk
CoinDesk· 2026-02-06 19:40
Crypto's eligibility for 401k retirement funds under fire after $2 trillion rout, with Duke's Lee Reiners saying 401ks shouldn't "gamble on speculative assets" as BlockTrust IRA managing $70M admits it didn't exit quickly enough.@IanAllison123 reports.https://t.co/TOg4WM4ssb ...
X @Whale Alert
Whale Alert· 2026-02-06 19:03
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 400,000,000 #USDT (399,895,000 USD) transferred from #HTX to #Aavehttps://t.co/snHlAoKWQi ...
X @Whale Alert
Whale Alert· 2026-02-06 18:57
🚨 🚨 🚨 759 #BTC (53,128,625 USD) transferred from #Coinbase to unknown wallethttps://t.co/WzMPkpgaO6 ...
X @BSCN
BSCN· 2026-02-06 18:53
🚨BREAKING: CRYPTO'S 401K ELIGIBILITY UNDER FIRE AFTER $2 TRILLION MARKET WIPEOUTRetirement fund access to crypto investments facing scrutiny following brutal market rout that erased $2 trillion in value. Regulatory pressure mounting on whether $BTC and digital assets belong in workplace retirement plans. ...
BITB: Further Downside Likely Before Reaccumulation Kicks Off
Seeking Alpha· 2026-02-06 18:52
Core Insights - The price of Bitcoin has decreased by 44% from its all-time high of $126,000, which was reached on October 7, 2025, and is currently priced at $70,000, indicating a continued downward trend [1] Price Movement - Bitcoin's all-time high was $126,000 on October 7, 2025, and it has since fallen to $70,000, reflecting a significant decline [1] - The ongoing price drop suggests a bearish market sentiment surrounding Bitcoin [1]
X @Whale Alert
Whale Alert· 2026-02-06 18:45
🚨 🚨 🚨 780 #BTC (54,782,587 USD) transferred from Coinbase Institutional to #Coinbasehttps://t.co/WeAiR5gk3U ...
X @Whale Alert
Whale Alert· 2026-02-06 18:44
🚨 🚨 🚨 🚨 🚨 1,493 #BTC (104,887,705 USD) transferred from unknown wallet to unknown wallethttps://t.co/6dXOHNHNYt ...
Major crypto exchange error sparks talk of ‘free’ 2,000 BTC
Yahoo Finance· 2026-02-06 18:41
A sudden price gap on one of South Korea’s biggest crypto venues set off fresh speculation on Feb. 6 as traders tried to explain why Bitcoin briefly traded far below the wider market. The move looked like a localized shock rather than a broad selloff, but it landed in the middle of a bruising week for digital assets. Related: Trump's crypto policy has astounding reach in South Korea Exchange error reportedly credited users with Bitcoin Market watchers and local media reports said the disruption followe ...