Bitfarms (BITF) said Friday its board has approved a plan to redomicile the company to the United States from Canada, following an analysis of investor sentiment and capital markets trends.

Bitfarms said the redomiciliation is not expected to impact its operations in Canada and the US.

The process is expected to be completed on or about April 1, subject to the satisfaction of certain conditions, including shareholder, stock exchange, and court approvals.

Bitfarms' new Delaware-incorporated parent company will operate as Keel Infrastructure. To effect the redomiciliation, each Bitfarms common share will be exchanged for one share of Keel Infrastructure common stock, Bitfarms said.

Keel Infrastructure shares are expected to trade on the Nasdaq and the Toronto Stock Exchange under the ticker symbol KEEL, pending final approvals from both exchanges, the company added.