Bitfarms Ltd.

NASDAQ•BITF

CEO: Mr. Benjamin Gagnon

Sector: Financial Services

Industry: Financial - Capital Markets

Listing Date: 2019-08-16

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada. It also undertakes hosting of third-party mining hardware. The company was formerly known as Bitfarms Technologies Ltd and changed its name to Bitfarms Ltd. in October 2018. The company was founded in 2017 and is based in Toronto, Canada.

Contact Information

110 Yonge Street, Suite 1601, Toronto, ON, M5C 1C4, Canada

647-259-1790

www.bitfarms.com

Market Cap

$1.30B

P/E (TTM)

-6.1

41.4

Dividend Yield

52W High

$6.60

52W Low

$0.67

52W Range

25%

Rank62Top 92.6%

1.9

F-Score

Modified Piotroski Analysis

Based on 8-year fundamentals

Weak • 1.9 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2018-2025

Financial Dashboard

Q4 2025 Data

Revenue

$15.38M+0.00%

4-Quarter Trend

EPS

-$0.26+0.00%

4-Quarter Trend

FCF

-$97.76M+0.00%

4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

FY2024 Annual Report Filed Filed Form 40-F for fiscal year ended December 31, 2024; common shares outstanding totaled 479.33M as of period close.

Financial Statement Restatements Confirmed Corrected 2022/2023 statements via Amendment No. 1 filing due to accounting errors identified late in the reporting period.

Disclosure Controls Ineffective Management concluded disclosure controls were not effective as of December 31, 2024, due to identified material weakness in ICFR.

Risk Factors

Material Internal Control Weakness Material weakness in ICFR due to complex transaction accounting errors impacting 2022 and 2023 financial results and restatements.

Cryptocurrency Industry Volatility Industry faces speculative nature, competitive pressures, and uncertainty regarding widespread cryptocurrency acceptance and continued usage growth.

Financing and Economic Risks Key risks include availability of financing, dependence on economic conditions, and fluctuating electricity rate terms impacting operations.

Outlook

Remediation Plan Underway Remediation efforts commenced; plan involves expanding finance team expertise, targeting control testing completion during fiscal year 2025.

Future Crypto Growth Dependency Future performance relies heavily on continued growth in blockchain usage and successful integration of the Stronghold Transaction synergies.

Regulatory and Compliance Focus Ongoing scrutiny regarding human rights, environmental legislation, and compliance costs associated with complex IFRS accounting standards.

Peer Comparison

Revenue (TTM)

BMA

$4.01T

-43.6%

MRX

$6.65B

+124.1%

$6.51B

+9.6%

Gross Margin (Latest Quarter)

HTGC

98.1%

+4.1pp

82.8%

+4.3pp

MRX

80.5%

-0.5pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
SF	$12.10B	9.1	15.4%	0.0%
WBS	$11.67B	11.5	10.8%	0.9%
ZION	$9.29B	9.6	13.8%	2.7%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-38.7%

Growth Under Pressure

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:May 12, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data