BITF Stock Just Shot Up 6% Today Morning – Here’s Everything To Know About Bitfarm’s Rebranding And Redomiciliation To US
Synopsis
The company said that the plan to redomicile to the U.S. was announced after a comprehensive strategic review process over the past 12 months.
Bitfarms (BITF) on Friday announced that its Board of Directors has approved a plan to rebrand the company as Keel Infrastructure and to redomiciliate it from Canada to the U.S.
The company said that the plan to redomicile to the U.S. was announced after a comprehensive strategic review process over the past 12 months.
“Bitfarms is officially launching the final phase of our pivot to the U.S., positioning us to more effectively execute on the significant opportunities we see ahead in HPC/AI infrastructure development,” said Bitfarms CEO Ben Gagnon.
The board-approved plan is subject to approval from shareholders, stock exchange, and the court, the company said.
Bitfarms shares were up nearly 6% in Friday’s pre-market trade. Retail sentiment around the company trended in the ‘bearish’ territory at the time of writing.
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