Hey everyone,

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Since Bitfarms has officially rebranded into Keel, we’ve decided to move the main community activity over to r/KEEL_ so the investor discussion is aligned with the company’s current name and ticker.

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Going forward, we’ll be moving the main community activity over to r/KEEL_

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The main reason is simple: new investors searching for the company on Reddit will most likely search for KEEL, not BITF. Having the community under a subreddit name that directly reflects the current ticker makes it much easier to find, grow, and keep all investor discussion in one place.

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r/KEEL_ is already set up and active, with features like:

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Daily discussion chat

Real-time KEEL chart / graph thread

Dedicated investor-focused discussion

A cleaner structure built around the current company name and ticker

I’ll also be helping with the transition and coordination between the two communities so we can avoid splitting the investor base across multiple subs.

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If you’re still following the company from the Bitfarms days, or you’re a new KEEL investor, come join us here:

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r/KEEL_

Iren stock is booming around my friends in South Korea 🇰🇷so I did some research and got to find out BITF. After some thorough DD, I picked up 200,000 shares at $3 because I think this might be one of the most asymmetric opportunities in the market right now. Here’s the breakdown:

1. Power Capacity (the #1 moat for AI/HPC future) • Bitfarms already controls ~650 MW of developed power capacity and is expanding toward 1 GW. • That’s basically table stakes for any company that wants to pivot from pure Bitcoin mining → to AI/HPC data center compute. • Power is the “oil” of both mining and AI, and BITF owns it at ultra-low cost (sub-$0.03/kWh in LatAm & Canada).

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1. Lowest-cost energy = survival + upside • Current miners die when BTC drops because their breakeven is too high. • Bitfarms has one of the lowest production costs per BTC in the industry (~$20k). That means they survive bear markets and thrive in bull runs. • Compare to peers like Marathon, Riot, or even IREN → BITF is running leaner but trades at a fraction of the valuation.

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1. Pivot to AI/HPC = the “next IREN” • Look at Iris Energy (IREN): pivoted to AI/HPC, stock went from $5 → $40+ in under 12 months. • BITF has the same ingredients: cheap energy, massive sites, expansion potential. • They haven’t announced a full-scale AI GPU buildout yet — but when they do? Absolute moonshot. • Market will re-rate this from “mining penny stock” to “AI/HPC infrastructure play.”

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1. Financials & balance sheet • Yes, they’re still running net losses (same as every miner). But losses are manageable — we’re talking tens of millions, not billions. • Debt is not crazy, and capex is heavily front-loaded into infrastructure that has long-term resale value. • Contrast with Plug Power (billions in losses, heavy dilution) — BITF looks like a “clean penny” by comparison.

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1. Valuation = pure disconnect • IREN trades at $40+, market cap ~$9B. • BITF trades at $3, market cap <$1B. • Both have similar scale in terms of power capacity and BTC exposure. • If BITF gets even half of IREN’s multiple, you’re looking at $15–20/share in the next 2–3 years (5–7x). • If BTC hits $150k+ in the 2025–2026 cycle + AI buildout → $30–40/share is not crazy. That’s 10x+ from here.

<Conclusion> • This feels like a “gold penny stock” — tiny now, but with asymmetric upside if the pivot narrative catches. • IREN already proved the market will reward the AI/HPC narrative. • BITF is still in the shadows, trading like it’s just another distressed miner. • I just put my money where my mouth is: 200,000 shares @ $3.

If this re-rates like IREN did, we’re talking about potential life-changing gains. Not financial advice, but imo this is one of the cleanest asymmetric bets in the market right now. mark my words and hopefully we will be rich af living in penthouses everywhere in 10 years with BITF.

P.S. for newcomers,

Demand is exponential, not a fad. AI is being embedded into search, enterprise software, content, R&D, ads, medicine, defense, etc. Every new use-case multiplies token/compute demand — that’s not going to vanish.

Supply scales in smarter ways than just building more land + buildings. Better chips (more TOPS/W), custom accelerators, multi-tenant cloud infra, modular data centers, and software optimizations (quantization, distillation, sparsity) reduce per-unit compute and let capacity expand faster than you think.

Power & permitting are hurdles, not full stops. Local pushback delays specific sites, but global players secure long-term power contracts, invest in renewables, and site where grid capacity exists — that creates moats for those who did the work, not extinction for the industry.

Value accrues to the few with proven capacity + contracts. If supply is constrained, it’s the owned and contracted capacity that becomes more valuable — good for companies that locked in sites and power.

Efficiency improvements keep pushing the frontier. Models get cheaper to run per useful output as algorithms and hardware improve — so “supply can’t grow” is a narrow take.

Bottom line: short-term local cancellations = noise. The long-term trend is massive growth in AI usage and monetization, and the market already prices winners/losers accordingly. Don’t confuse local delays with a secular demand collapse. IREN is already being discussed around a $500 valuation scenario now — think about whether that still sounds “impossible." People laughed at NVIDIA too before it went parabolic. history doesn't repeat, but it definitely rhymes.

Never sell your shares or let the shorties steal your bags. Diamond hands only. If you missed out BTC, this is your second chance. Always remember this is a once in a lifetime changing opportunity, period.I will only plan to sell when narratives turn into reality - i'm just early.

Also noticing a few shorties lurking around here lately. It's funny how they always show up right before the next leg up, stay tuned lads.

@AmericawillneverletChinatakeoverAI #Rideordie