Top Page
Bitfarms
(NASDAQ:BITF)
Bitfarms (BITF) vs. iShares MSCI Canada ETF (EWC)
Bitfarms Business Overview & Revenue Model
Bitfarms Earnings Call Summary
Bitfarms Financial Statement Overview
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 182.96M | 146.37M | -8.38M | 169.20M | 34.79M | 32.42M | Gross Profit |
| -31.99M | -21.50M | -140.29M | 110.83M | -1.90M | 5.44M | EBIT |
| -103.92M | -72.13M | -284.02M | 37.35M | -9.31M | 2.56M | EBITDA |
| 16.24M | -7.73M | -103.47M | 70.53M | 1.47M | 9.63M | Net Income Common Stockholders |
| -126.60M | -104.04M | -239.05M | 22.13M | -16.29M | 2.11M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 123.50M | 84.04M | 35.44M | 191.30M | 5.95M | 2.16M | Total Assets |
| 426.47M | 378.73M | 343.10M | 542.59M | 51.70M | 52.86M | Total Debt |
| 15.95M | 19.87M | 65.01M | 84.74M | 28.37M | 22.19M | Net Debt |
| -50.01M | -64.17M | 34.20M | -40.53M | 22.42M | 20.03M | Total Liabilities |
| 61.06M | 83.96M | 87.53M | 120.00M | 36.26M | 24.77M | Stockholders Equity |
| 365.41M | 294.76M | 255.57M | 422.58M | 15.45M | 28.09M |
| Cash Flow | Free Cash Flow | ||||
| -261.71M | -47.71M | -158.73M | -230.43M | 2.74M | -17.76M | Operating Cash Flow |
| 27.67M | 23.60M | 36.25M | -37.17M | 7.22M | 6.02M | Investing Cash Flow |
| -291.83M | -58.34M | -155.01M | -215.15M | -3.60M | -22.36M | Financing Cash Flow |
| 290.27M | 87.88M | 24.01M | 371.99M | 185.00K | 17.97M |
Bitfarms Technical Analysis
Bitfarms Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | C$451.60M | 140.57 | 4.09% | ― | 3189.96% | ― | |
64 Neutral | $12.77B | 9.77 | 7.59% | 16985.66% | 12.31% | -7.69% | |
56 Neutral | C$196.99M | 53.85 | 5.61% | ― | -9.36% | ― | |
50 Neutral | $465.19M | ― | -2.15% | ― | 27.99% | 90.99% | |
50 Neutral | C$2.43B | 3.76 | -6.53% | ― | 15.44% | -134.04% | |
47 Neutral | C$717.19M | ― | -16.30% | ― | 30.06% | 46.14% |
Bitfarms Corporate Events
Bitfarms reported a 33% year-over-year increase in revenue for Q1 2025, reaching $67 million, despite a decrease in gross mining margin from 63% to 43%. The company has secured a $300 million private debt facility with Macquarie Group to fund its HPC project at Panther Creek, highlighting its strategic pivot towards HPC and AI data centers in the U.S. This move is expected to bolster Bitfarms’ financial position and operational capabilities, positioning it for growth in the HPC sector while maintaining its Bitcoin mining operations.
The most recent analyst rating on (TSE:BITF) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Bitfarms Ltd. announced it will release its first quarter 2025 financial results on May 14, 2025, before the market opens, followed by a conference call at 8:00 am EST. This announcement is significant as it provides stakeholders with insights into the company’s financial health and operational performance, potentially impacting its market positioning and investor confidence.
Bitfarms Ltd. has announced its participation in several upcoming investor and industry conferences, including Consensus 2025 in Toronto, AIM Summit London, and BTC 2025 in Las Vegas. This participation underscores Bitfarms’ commitment to engaging with industry stakeholders and investors, potentially enhancing its market presence and fostering new business opportunities.
Bitfarms has secured a $300 million private debt facility from a division of Macquarie Group to fund the development of a high-performance computing (HPC) data center at its Panther Creek location. This strategic financing is expected to accelerate the buildout at Panther Creek and position Bitfarms as a leader in large-scale HPC data center projects amidst growing demand driven by the AI revolution. The company reported an operational hashrate of 19.5 EHuM and a fleet efficiency of 19 w/TH for April 2025, with 268 Bitcoin earned, reflecting a slight decrease from the previous month.
Bitfarms has entered into an initial agreement with Macquarie Equipment Capital, Inc. for a private debt facility of up to $300 million to fund the development of its Panther Creek data center in Pennsylvania. This partnership with Macquarie, a major infrastructure investor, is expected to accelerate Bitfarms’ project development and strengthen its position in the HPC market, particularly in light of the growing demand for AI-related infrastructure.
Bitfarms Ltd., a global energy and compute infrastructure company, reported a productive March 2025, marked by the acquisition of Stronghold Digital Mining and the sale of its Yguazu data center in Paraguay. These strategic moves aim to rebalance its portfolio towards the U.S., enhance operational efficiency, and diversify into high-performance computing and artificial intelligence. The company also appointed new executives to advance its HPC/AI strategy and reported a 21% increase in operational hashrate, achieving its Q2 efficiency target ahead of schedule. These developments are expected to strengthen Bitfarms’ market position and growth potential in the U.S.
Bitfarms reported a 21% year-over-year increase in revenue for Q4 2024, reaching $56 million, despite a decrease in gross mining margin. The company has significantly improved its efficiency and expanded its capacity, highlighted by the acquisition of Stronghold Digital Mining and the sale of its Yguazu data center. These strategic moves are part of Bitfarms’ efforts to diversify its revenue streams, reduce dependency on Bitcoin price volatility, and capitalize on the growing demand for AI computing. The company aims to secure long-term cash flows and enhance shareholder value through its focus on U.S. energy and HPC infrastructure.
Bitfarms has appointed James Bond as Senior Vice President of High-Performance Computing (HPC) to establish and scale its North American HPC/AI business. Bond, with over 20 years of experience in IT infrastructure, previously led HPE’s North America HPC/AI infrastructure platforms, achieving significant growth. His appointment is expected to spearhead Bitfarms’ long-term HPC/AI strategy, leveraging its Pennsylvania power capacity to deploy advanced computing infrastructure, enhancing its market positioning and growth trajectory.
Bitfarms Ltd. has announced it will release its fourth quarter and full year 2024 financial results on March 27, 2025, before the market opens, followed by a conference call. This announcement is significant for stakeholders as it provides insights into the company’s financial health and operational performance, potentially impacting its market positioning and investor relations.
Bitfarms Ltd. has completed the sale of its 200 MW data center in Yguazu, Paraguay to HIVE Digital Technologies for approximately $85 million. This strategic move allows Bitfarms to streamline operations and shift focus towards North America, aiming for a portfolio with 80% North American energy by the end of 2025. The sale is expected to reduce 2025 capital expenditures and power costs, with plans to reinvest in U.S. growth opportunities, including Bitcoin mining and HPC/AI infrastructure, aligning with Bitfarms’ strategy to diversify beyond Bitcoin mining.
Bitfarms has completed its acquisition of Stronghold Digital Mining, significantly expanding its U.S. operations and positioning itself as a leading Bitcoin miner in the PJM market. This acquisition increases Bitfarms’ energy portfolio and secures a 1.1 GW growth pipeline in Pennsylvania, enhancing its capacity for both Bitcoin mining and potential high-performance computing/AI developments. The transaction also rebalances Bitfarms’ energy portfolio to 80% North American and 20% international, and adds nearly 1 Exahash Under Management through existing hosting agreements. This strategic move is expected to create long-term value for shareholders and marks a new chapter for Bitfarms.
Sprott Physical Gold Trust, managed by Sprott Inc., has reached a net asset value of $10 billion, marking a significant milestone since its inception in 2010. This achievement highlights the growing demand for secure and convenient investment in physical gold, especially as global central bank purchases drive gold prices to new highs in 2025. The Trust’s fully allocated and redeemable gold holdings provide investors with a reliable alternative to direct gold bullion investment, reflecting Sprott’s expertise in precious metals asset management.