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Bitfarms (BITF)
NASDAQ:BITF
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Earnings Data
Report Date
Mar 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.04Last Year’s EPS
-0.19Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 27, 2019
|% Change Since: -39.03%
|Next Earnings Date:Aug 29, 2019
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook. There was significant progress in operational efficiency and expansion through strategic acquisitions, but these were countered by delays in reaching hashrate targets and increased operating losses driven by one-time costs. The revenue growth was positive, yet the increased expenses and delays in achieving certain targets were concerning.Company Guidance
During the Bitfarms' Third Quarter 2024 earnings call, CEO Ben Gagnon outlined the company's impressive operational and strategic achievements, emphasizing the company's significant growth in hashrate by 83% to 11.9 exahash. The company unracked over 50,000 older generation miners and deployed 46,000 new miners while improving efficiency by 40% from 35 watts per terahash to 21 watts per terahash, achieving their efficiency goal three months ahead of schedule. Bitfarms reported a substantial increase in its megawatt pipeline, aiming to scale from 324 megawatts to 950 megawatts by the end of 2025, with a multi-year growth potential up to 1.6 gigawatts. The call also highlighted the strategic acquisition of Stronghold Digital Mining, which brought 307 megawatts of capacity, contributing to a 47% increase in their 2025 year-end megawatts projection and rebalancing their energy portfolio towards North America. Despite minor setbacks leading to a delayed hashrate target of 21 exahash now expected in the first half of 2025, Bitfarms remains focused on maximizing asset utility through strategic diversification and expansion, including their entry into the HPC and AI sectors.Significant Hashrate Increase
Increased hashrate by 83% to 11.9 exahash, improving efficiency by 40% from 35 watts per terahash to 21 watts per terahash, reaching the year-end efficiency goal 3 months ahead of schedule.
Stronghold Digital Mining Acquisition
Announced acquisition of Stronghold Digital Mining, integrating vertically with 2 power facilities in Pennsylvania, expanding U.S. power capacity by over 300 megawatts.
Revenue Growth
Total revenue was $45 million in Q3, an 8% increase from the second quarter and a 30% increase year-over-year.
Operational Improvements
Achieved 21 watts per terahash efficiency target ahead of schedule, reducing electricity cost per terahash by 11%.
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BITF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BITF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $2.69 | $2.26 | -15.99% |
| Aug 08, 2024 | $1.88 | $2.30 | +22.34% |
| May 15, 2024 | $1.61 | $1.85 | +14.91% |
| Mar 07, 2024 | $2.64 | $2.51 | -4.92% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Bitfarms (BITF) report earnings?
Bitfarms (BITF) is schdueled to report earning on Mar 19, 2025, TBA Not Confirmed.
What is Bitfarms (BITF) earnings time?
Bitfarms (BITF) earnings time is at Mar 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BITF EPS forecast?
BITF EPS forecast for the fiscal quarter 2024 (Q4) is -0.04.
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