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Bitfarms
(TSX: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 | 270.06M | 192.88M | 146.37M | 142.43M | 169.49M | 34.70M |
| Gross Profit | -7.52M | -32.36M | -21.50M | 10.52M | 111.12M | 2.87M |
| EBITDA | 19.14M | 74.35M | -7.73M | -106.42M | 70.53M | 1.47M |
| Net Income | -130.32M | -54.06M | -104.04M | -175.64M | 22.13M | -16.29M |
Balance Sheet | ||||||
| Total Assets | 801.28M | 667.62M | 378.73M | 343.10M | 542.59M | 51.70M |
| Cash, Cash Equivalents and Short-Term Investments | 258.23M | 146.84M | 84.04M | 35.44M | 191.63M | 5.95M |
| Total Debt | 73.68M | 23.41M | 19.87M | 65.01M | 84.74M | 28.37M |
| Total Liabilities | 189.92M | 59.62M | 83.96M | 87.70M | 183.58M | 36.26M |
| Stockholders Equity | 611.36M | 608.00M | 294.76M | 255.40M | 359.01M | 15.45M |
Cash Flow | ||||||
| Free Cash Flow | -458.46M | -480.42M | -177.02M | -317.40M | -230.43M | 2.74M |
| Operating Cash Flow | -307.61M | -140.56M | -105.71M | -122.42M | -37.17M | 7.22M |
| Investing Cash Flow | 210.66M | -178.39M | 70.97M | 3.66M | -215.15M | -3.60M |
| Financing Cash Flow | 135.88M | 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | C$9.46B | 33.20 | 18.75% | ― | 7.46% | -4.30% | |
52 Neutral | C$57.70M | -5.12 | -10.10% | ― | 39.64% | -70.96% | |
49 Neutral | C$121.87M | 320.69 | 0.60% | ― | -21.21% | -84.82% | |
46 Neutral | $2.01B | -10.05 | -17.06% | ― | 51.69% | 28.00% | |
44 Neutral | C$22.57M | -5.71 | -13.56% | ― | 40.83% | -123.25% | |
44 Neutral | C$36.31M | -1.79 | ― | ― | 72.86% | -2.13% |
Bitfarms Corporate Events
Bitfarms has appointed American executive and longtime corporate governance specialist Edie Hofmeister as Chair of its Board of Directors, succeeding Brian Howlett, who will remain on the board as an independent director. The leadership change is positioned as a key step in the company’s planned redomiciliation to the United States, with Hofmeister’s experience in U.S. corporate and securities law, capital markets, and large-scale infrastructure projects expected to help strengthen Bitfarms’ governance, support its high-performance computing and AI growth strategy, and improve access to U.S. capital and index eligibility as it seeks to deepen its presence in the American market.
The most recent analyst rating on (TSE:BITF) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Bitfarms Ltd. will participate in Needham’s 28th Annual Growth Conference in New York City, where its CFO Jonathan Mir and COO Liam Wilson are scheduled to deliver a management presentation on January 13 and host one-on-one meetings with investors. The company’s presence at this high-profile growth investor event underscores its efforts to raise visibility in the capital markets as a leading digital infrastructure and Bitcoin mining operator with substantial energy assets, potentially broadening its institutional investor base and reinforcing its positioning within the high-performance computing and crypto infrastructure sectors.
The most recent analyst rating on (TSE:BITF) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Bitfarms has agreed to sell its 70 MW Bitcoin mining site in Paso Pe, Paraguay, to the Sympatheia Power Fund for up to $30 million, completing its withdrawal from Latin America and shifting its energy assets portfolio to be fully North American. The transaction, which is expected to close in the first quarter of 2026, will provide $9 million in cash at closing and up to an additional $21 million over 10 months, strengthening Bitfarms’ liquidity and allowing it to accelerate the redeployment of capital into North American high-performance computing and AI-focused energy infrastructure, where management sees greater returns and long-term strategic advantage. Following the sale, Bitfarms’ portfolio will comprise 341 MW of energized capacity, 430 MW under active development entirely in the U.S., and a 2.1 GW multi-year North American pipeline that further concentrates its growth and operations in U.S. data center and power markets.
The most recent analyst rating on (TSE:BITF) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Bitfarms reported a revenue of $69 million from continuing operations and successfully closed a $588 million convertible notes offering. The company is converting its Washington site to support advanced liquid cooling for GB300s and plans to lead the industry in developing infrastructure for Nvidia’s Vera Rubin GPUs. With substantial financial flexibility and a strong energy portfolio, Bitfarms is well-positioned to advance its HPC/AI infrastructure across North America. The company has also made executive team updates, including the appointment of Jonathan Mir as CFO and Wayne Duso to the Board of Directors, and initiated a corporate share buyback program.
The most recent analyst rating on (TSE:BITF) stock is a Hold 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 plans to convert its Washington State Bitcoin mining facility to support high-performance computing and AI workloads, targeting completion by December 2026. The conversion will feature advanced liquid cooling and support for Nvidia GB300 GPUs, with a fully funded agreement of $128 million to secure critical IT equipment. This strategic shift is expected to provide a strong cash flow foundation, potentially generating more net operating income than Bitcoin mining, as the company transitions away from Bitcoin mining in 2026 and 2027.
The most recent analyst rating on (TSE:BITF) stock is a Hold 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. 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.
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.