Cryptomine data center firm Bitfarms has announced plans to fully convert its Bitcoin mining facility in Washington state to support HPC/AI workloads.

The Toronto-based company is one of the world’s largest cryptocurrency miners, but plans to wind down those operations by 2027 in order to capitalize on growing demand for AI computing.

The Washington conversion project follows a $128 million deal with an unnamed US provider to generate 18MW of capacity for critical IT infrastructure.

The conversion of Bitfarms’ 6-acre, 18MW Washington site is expected to be completed by December 2026.

“We continue executing on our HPC/AI infrastructure development strategy with a fully funded supply chain and plan to convert our Washington site to support Nvidia GB300s with state-of-the-art liquid cooling,” said Bitfarms CEO Ben Gagnon.

“We believe there are compelling reasons to consider pursuing a GPU-as-a-Service or Cloud monetization strategy specifically in Washington.”

The Washington site represents less than one percent of Bitfarms’ total developable portfolio, but Gagnon said it could produce more income than the company has ever generated with Bitcoin mining.

The firm’s HPC/AI strategy aims to diversify revenue streams by reallocating assets away from its Bitcoin mining activities.

Bitfarms posted a net loss of $46m at its latest third-quarter earnings, during which Gagnon said the firm would phase out its Bitcoin mining business over the next two years.

Earlier this year, Bitfarms appointed HPC/AI specialist James Bond to help oversee the transition of its 15 Bitcoin mining data centers across the United States, Canada, and Argentina.

Other HPC/AI projects being undertaken by Bitfarms include a 30MW crypto mining facility in Pennsylvania, which will be overhauled to support AI infrastructure by the end of next year.

Rival Bitcoin miner MARA also recently announced that it would be expanding its services to include AI computing, while Cipher and Terawulf are also planning AI projects.