Bitfarms Formalizes US Redomiciliation to Keel Infrastructure and Repays $100M Macquarie Debt

summarizeSummary

Bitfarms Ltd. has filed the definitive arrangement agreement for its previously announced redomiciliation to the U.S. as Keel Infrastructure Corp. and disclosed the full repayment of its $100 million Macquarie debt facility.

check_boxKey Events

• Formalizes US Redomiciliation

  Bitfarms has filed the arrangement agreement to redomicile from Canada to the U.S., rebranding as Keel Infrastructure Corp. This follows the initial announcement on February 6, 2026.

• Share Exchange Details

  Each outstanding Bitfarms common share will be exchanged for one share of common stock of the new U.S. entity, Keel Infrastructure US.

• Repays Macquarie Debt Facility

  The company provided formal notice to repay in full the $100 million drawn on its $300 million debt facility with Macquarie Group, reducing net liquidity by $50 million.

• Shareholder Vote Scheduled

  A special meeting for shareholders to approve the arrangement is set for March 20, 2026, with a record date of February 13, 2026.

auto_awesomeAnalysis

This filing provides the formal legal framework for Bitfarms' previously announced strategic redomiciliation to the U.S. as Keel Infrastructure Corp. The detailed arrangement agreement outlines the share exchange and the process for shareholder and court approvals, aiming for an April 1, 2026, effective date. Concurrently, the company's decision to fully repay its $100 million Macquarie debt facility significantly reduces its financial leverage, strengthening the balance sheet, though it also decreases net liquidity by $50 million. This move aligns with the company's broader strategic pivot and positions it for potential benefits from a U.S. domicile, including access to capital markets and a clearer regulatory environment. Investors should monitor the shareholder vote and the finalization of the court approvals.