Mr. Ben Gagnon reports

BITFARMS SHAREHOLDERS APPROVE U.S. REDOMICILIATION PLAN

At the special meeting of shareholders held earlier today, Bitfarms Ltd.'s shareholders voted in favour of a special resolution to approve a statutory plan of arrangement involving the company and Keel Infrastructure Corp., pursuant to which the company will redomicile from Canada to the United States and rebrand as Keel Infrastructure.

"Today's vote is an endorsement of our hard work over the course of more than a year and an important milestone in our strategic pivot," said chief executive officer Ben Gagnon. "We restructured the business, rebalanced and grew the portfolio, recruited a team of proven experts, and strengthened our balance sheet, which now lets us move with determination and flexibility. We are excited to be moving forward on our U.S. redomiciliation plan and getting closer to rebranding as Keel Infrastructure. On behalf of the board and management team, we thank our shareholders for their strong support as we embark on this exciting next chapter."

At the special meeting, approximately 99.3 per cent of votes cast were in favour of the arrangement. To be effective, the arrangement required the affirmative vote of at least 66-2/3rds per cent of the votes cast by holders of common shares of Bitfarms present in person or represented by proxy at the special meeting.

The U.S. redomiciliation is expected to be completed on or about April 1, 2026, subject to obtaining court approvals, as well as the satisfaction of all other conditions precedent. The Toronto Stock Exchange has conditionally approved the arrangement and the listing of shares of common stock of Keel Infrastructure. Keel common stock is expected to begin trading on Nasdaq and the Toronto Stock Exchange under the ticker KEEL two business days following completion of the U.S. redomiciliation, subject to fulfilling all of the listing requirements of Nasdaq and the TSX, respectively.

Additional details of the results of the special meeting will be made available under the company's SEDAR+ profile, under the company's EDGAR profile and on the company's website.

About Bitfarms Ltd.

Bitfarms is a North American digital infrastructure and energy company that develops and owns data centres and energy infrastructure for high performance computing workloads, including artificial intelligence.

Bitfarms' 2.1-gigawatt North American energy portfolio is composed of energized, under development and pipeline MW, located in established data centre clusters, with robust access to power and fibre infrastructure.

Bitfarms is headquartered in New York, N.Y., and Toronto, Ont., and traded on Nasdaq and the Toronto Stock Exchange.

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