The transition involves a statutory plan of arrangement where each outstanding common share of Bitfarms has been exchanged for one share of Keel Common Stock. This new stock is set to begin trading on the Nasdaq and the Toronto Stock Exchange under the ticker symbol 'KEEL' starting April 6, 2026. The delisting of Bitfarms shares from these exchanges will occur simultaneously, streamlining the company's operations under a unified brand.
CEO Benjamin Gagnon emphasized the importance of this rebranding, stating, "When you name a company Keel, you’re making a commitment to be foundational, to be the base that everything else depends on." This reflects the company's focus on providing energy-secured sites and facilities that enable customers to deploy AI compute at scale.
The redomiciliation is anticipated to provide several benefits, including reduced regulatory risks and enhanced alignment with U.S. customer requirements. Keel's infrastructure solutions are expected to cater to high-demand power markets across the U.S. and Canada, further solidifying its market position.
In addition to the redomiciliation, Keel has assumed Bitfarms' normal course issuer bid (NCIB), allowing it to purchase up to 49,943,031 shares for cancellation. This move is part of Keel's strategy to manage its capital effectively and respond to market conditions.
Overall, the completion of the U.S. redomiciliation is seen as a pivotal moment for Keel Infrastructure Corp., setting the stage for future growth and operational efficiency in the rapidly evolving digital infrastructure landscape.
