Bitfarms (NASDAQ: BITF) received a special exception permit from the Nesquehoning Planning Commission on Monday to prepare its Panther Creek data center complex in Nesquehoning, PA, per a Times News Online report.
The development encompasses two distinct phases to construct AI/HPC infrastructure. The primary phase covers Carbon node east and features four 315,000-square-foot buildings on 90 acres, and a planned secondary phase covers Carbon node west with a single building on the remaining property.
The report states that management projects the completed complex will create 297 family-sustaining jobs in the area. Bitfarms committed to a three-year investment in the Panther Valley School District alongside resource support for local food banks.
Infrastructure plans include a new PPL power line funded entirely by Bitfarms to prevent strain on the local Nesquehoning grid according to Times News Online. The facility utilizes a closed system that drastically reduces daily water needs to roughly 3,000 gallons. External suppliers will truck in the massive initial water fill required for cooling systems rather than tapping municipal water sources.
Bitfarms Chief Operating Officer Liam Wilson informed the commission that the business will not rely on proposed state-level tax exemptions for data centers. Wilson stated that management will “plan on paying whatever tax is due” to support the community.
This local zoning milestone coincides with broader corporate restructuring as Bitfarms plans to redomicile to Delaware and rebrand as Keel Infrastructure. The transition reflects a complete exit from bitcoin mining to focus entirely on AI/HPC development, and it includes repaying a Macquarie loan in full to secure more cost-effective project financing for the Panther Creek site.
Panther Creek secured positive indications from PPL on converting a 60-megawatt interruptible service agreement to a firm service agreement. Following load studies, the total potential capacity of the campus could expand to more than 500 megawatts.
To fund the initial Panther Creek development, Bitfarms previously converted a private debt agreement into a project-specific loan of up to $300 million. A $50 million draw last October accelerated equipment orders and substation construction. Development timelines aim to energize the first phase by the end of the year.
