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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 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 245.66M | 192.88M | 146.37M | -8.38M | 169.20M | 34.79M |
| Gross Profit | -16.42M | -32.36M | -21.50M | -140.29M | 110.83M | -1.90M |
| EBITDA | 25.00M | 74.35M | -7.73M | -103.47M | 70.53M | 1.47M |
| Net Income | -86.20M | -54.06M | -104.04M | -239.05M | 22.13M | -16.29M |
Balance Sheet | ||||||
| Total Assets | 827.95M | 667.62M | 378.73M | 343.10M | 542.59M | 51.70M |
| Cash, Cash Equivalents and Short-Term Investments | 144.47M | 146.84M | 84.04M | 35.44M | 191.30M | 5.95M |
| Total Debt | 74.91M | 23.41M | 19.87M | 65.01M | 84.74M | 28.37M |
| Total Liabilities | 165.46M | 59.62M | 83.96M | 87.53M | 120.00M | 36.26M |
| Stockholders Equity | 662.49M | 608.00M | 294.76M | 255.57M | 422.58M | 15.45M |
Cash Flow | ||||||
| Free Cash Flow | -514.16M | -480.42M | -47.71M | -158.73M | -230.43M | 2.74M |
| Operating Cash Flow | -261.60M | -140.56M | 23.60M | 36.25M | -37.17M | 7.22M |
| Investing Cash Flow | 47.48M | -178.39M | -58.34M | -155.01M | -215.15M | -3.60M |
| Financing Cash Flow | 186.04M | 294.46M | 87.88M | 24.01M | 371.99M | 185.00K |
Bitfarms Technical Analysis
Bitfarms Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
| ― | C$105.63M | 66.43 | -6.67% | ― | ― | -90.34% | |
| ― | C$7.17B | 35.57 | 15.87% | ― | 2.40% | 27.15% | |
| ― | C$118.19M | ― | -0.89% | ― | -20.75% | -84.00% | |
| ― | C$3.14B | ― | -15.17% | ― | 46.65% | 44.91% | |
| ― | $1.72B | ― | -5.84% | ― | 7.57% | 40.56% | |
| ― | C$35.01M | ― | -102.00% | ― | 34.56% | -161.07% |
Bitfarms Corporate Events
Bitfarms Ltd. has announced it will release its third quarter 2025 financial results on November 13, 2025, before the market opens, followed by a conference call at 8:00 am EST. This announcement highlights Bitfarms’ ongoing commitment to transparency and engagement with stakeholders, as it continues to expand its digital infrastructure footprint in the U.S., which could further strengthen its position in the high-performance computing and Bitcoin mining industry.
The most recent analyst rating on (TSE:BITF) stock is a Buy with a C$5.50 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
On October 24, 2025, Bitfarms Ltd. successfully closed an additional $50 million draw under an amended loan agreement with Macquarie Equipment Capital, Inc. As part of this agreement, Bitfarms issued warrants to Macquarie, allowing them to purchase over 2.1 million common shares at a premium price, which could enhance the company’s financial flexibility and market position.
The most recent analyst rating on (TSE:BITF) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
On October 21, 2025, Bitfarms Ltd. entered into a note indenture agreement with Computershare Trust Company, N.A. and Computershare Trust Company of Canada as trustees. This agreement involves the issuance of 1.375% Convertible Senior Notes due 2031, which could impact the company’s financial strategy and market positioning by providing additional capital for its operations.
The most recent analyst rating on (TSE:BITF) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Bitfarms Ltd. has successfully closed a US$588 million offering of convertible senior notes, including an $88 million option exercised by initial purchasers. This capital raise strengthens Bitfarms’ balance sheet, providing over US$1 billion in financial resources, which will support the company’s infrastructure developments in North America. The offering introduces high-quality institutional partners to Bitfarms’ capital structure, enhancing its market positioning and operational flexibility.
The most recent analyst rating on (TSE:BITF) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Bitfarms Ltd. has announced the pricing of its upsized offering of US$500 million in convertible senior notes, which will mature in 2031. The capital raised will be used for general corporate purposes and to purchase cash-settled capped calls to mitigate economic dilution. This strategic financial move enhances Bitfarms’ liquidity and positions it to better manage its capital structure, potentially increasing its competitiveness in the digital infrastructure sector.
The most recent analyst rating on (TSE:BITF) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Bitfarms Ltd. has announced a proposed offering of US$300 million in convertible senior notes due 2031, with an option for initial purchasers to acquire an additional US$60 million. The proceeds from this offering are intended for general corporate purposes and to fund capped call transactions aimed at mitigating economic dilution, with a cap set at a 125% premium to the last reported sale price of Bitfarms’ common shares. This strategic financial move is expected to enhance Bitfarms’ market positioning by potentially reducing economic dilution and stabilizing share prices, thereby benefiting stakeholders.
The most recent analyst rating on (TSE:BITF) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Bitfarms Ltd. has announced the retirement of its Chief Financial Officer, Jeff Lucas, and the appointment of Jonathan Mir as his successor. Jonathan Mir, with over 25 years of capital markets experience in energy infrastructure, will join Bitfarms as CFO effective October 27, 2025, bringing invaluable expertise to support the company’s transition to a North American HPC/AI infrastructure company. CEO Ben Gagnon expressed gratitude for Jeff Lucas’s contributions, highlighting his role in transforming Bitfarms from a Bitcoin miner to a digital infrastructure leader. The leadership change is expected to bolster Bitfarms’ growth strategy in Pennsylvania, Quebec, and Central Washington, with a strong financial position and significant capital available for future projects.
The most recent analyst rating on (TSE:BITF) stock is a Buy with a C$7.00 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
On October 10, 2025, Bitfarms Ltd. announced the conversion of its $300 million private debt facility with Macquarie Group into a project-specific financing arrangement to fund the development of its data center campus in Panther Creek, Pennsylvania. This conversion allows Bitfarms to draw an additional $50 million to accelerate the development of its high-performance computing and AI infrastructure, with construction set to begin in Q4 2025. The move positions Bitfarms to capitalize on the growing demand for digital infrastructure in Pennsylvania, enhancing its industry positioning and operational capabilities.
The most recent analyst rating on (TSE:BITF) stock is a Buy with a C$3.25 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
On October 10, 2025, Bitfarms Ltd. announced an amendment to its loan agreement with Macquarie Equipment Capital, converting a $300 million debt facility into project-specific financing for its data center campus in Panther Creek, Pennsylvania. This amendment allows Bitfarms to draw an additional $50 million to accelerate the development of its high-performance computing and AI infrastructure, positioning the company to meet growing demand in Pennsylvania, a burgeoning hub for AI infrastructure.
The most recent analyst rating on (TSE:BITF) stock is a Buy with a C$3.25 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Bitfarms Ltd. recently held its earnings call, showcasing a mix of optimism and challenges. The company reported significant achievements in revenue growth and strategic expansions, particularly in the North American market. However, it also faced hurdles in Argentina and regulatory challenges in Quebec. Despite these setbacks, Bitfarms’ proactive measures, such as infrastructure investments and a stock buyback program, illustrate a robust position moving forward.
On August 18, 2025, Bitfarms Ltd. announced the appointment of Wayne Duso, a former AWS executive, to its Board of Directors. This strategic move aligns with Bitfarms’ focus on expanding its high-performance computing and AI business across North America. Duso’s extensive experience in cloud storage and data center technologies is expected to bolster Bitfarms’ capabilities in meeting the rising demand for HPC/AI infrastructure, potentially driving sustainable growth and enhancing value for stakeholders.
The most recent analyst rating on (TSE:BITF) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Bitfarms has appointed Wayne Duso, a former AWS executive with extensive experience in enterprise technologies and cloud storage systems, to its Board of Directors. This strategic move aligns with Bitfarms’ focus on expanding its high-performance computing and AI business across North America, leveraging Duso’s expertise to capitalize on the growing demand for HPC/AI infrastructure, thereby driving sustainable growth and value for the company and its stakeholders.
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., a North American energy and digital infrastructure company, specializes in building and operating data centers and energy infrastructure for high-performance computing and Bitcoin mining.
Bitfarms reported a substantial increase in revenue for Q2 2025, driven by its strategic focus on HPC and AI infrastructure development, particularly at its Panther Creek campus in Pennsylvania. The company has partnered with T5 Data Centers to advance this development and has secured significant energy capacity to support its growth. Bitfarms is also executing a corporate share buyback program and plans to redomicile to the U.S., reflecting its strategic pivot to the U.S. market. The company is discontinuing its mining operations in Argentina due to energy supply issues and economic uncertainties, which aligns with its broader strategy to focus on North American 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 has announced a partnership with T5 Data Centers to enhance high-performance computing and AI development at its Panther Creek campus in Pennsylvania. This collaboration is set to leverage T5’s expertise in data center construction and operations, positioning Bitfarms at the forefront of AI infrastructure development in the state, supported by recent political commitments to AI investments. The partnership aims to create a state-of-the-art facility that will drive long-term value for shareholders and support Pennsylvania’s growth as a hub for next-generation data centers.
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.