Revenue Growth
Bitfarms achieved a total revenue of $84 million from continuing and discontinued operations in Q3, with a year-over-year increase of 156% in revenue from continuing operations.
Strong Financial Position
The company has over $1 billion in financial flexibility, consisting of roughly $820 million in cash and Bitcoin, and $200 million available from a Macquarie facility.
Transition to HPC and AI
Bitfarms is making significant strides in transitioning from Bitcoin mining to HPC and AI infrastructure, with plans to convert its Washington site and develop next-generation data centers for NVIDIA's Vera Rubin GPUs.
Convertible Note Offering Success
Bitfarms successfully upsized its convertible note offering to $588 million with strong investor commitment, preserving upside and minimizing potential equity dilution.