Bitfarms Ltd., a blockchain infrastructure company, mines for cryptocurrency coins and tokens in North America. The company owns and operates server farms comprising computers that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. It also provides electrician services to commercial and residential customers in Quebec, Canada. It also provides hosting of third-party mining hardware. The company was founded in 2017 and is headquartered in Toronto, Canada.
IPO Year:
Exchange: NASDAQ
Website: bitfarms.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/8/2025 | Outperform | Keefe Bruyette | |
| 12/4/2024 | $6.00 | Buy | Alliance Global Partners |
| 6/11/2024 | $4.00 → $5.00 | Overweight | Cantor Fitzgerald |
| 6/4/2024 | $4.00 | Buy | H.C. Wainwright |
| 12/14/2023 | $4.00 | Buy | B. Riley Securities |
| 5/19/2023 | $2.00 | Overweight | Cantor Fitzgerald |
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Keefe Bruyette initiated coverage of Bitfarms with a rating of Outperform
Alliance Global Partners initiated coverage of Bitfarms with a rating of Buy and set a new price target of $6.00
Cantor Fitzgerald resumed coverage of Bitfarms with a rating of Overweight and set a new price target of $5.00 from $4.00 previously
H.C. Wainwright initiated coverage of Bitfarms with a rating of Buy and set a new price target of $4.00
B. Riley Securities initiated coverage of Bitfarms with a rating of Buy and set a new price target of $4.00
Cantor Fitzgerald initiated coverage of Bitfarms with a rating of Overweight and set a new price target of $2.00
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TORONTO, Ontario and NEW YORK, N.Y., Aug. 18, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX:BITF) (the "Company"), a global energy and compute infrastructure company, today announced that the Board of Directors (the "Board") has unanimously approved the appointment of Wayne Duso to the Company's Board, effective immediately. With the appointment of Mr. Duso, Bitfarms' Board is now comprised of seven directors, six of whom are independent. Mr. Duso is a distinguished senior engineering and product executive with over 25 years' experience developing enterprise technologies. He is renowned for his leadership in cloud storage systems that support large-scale data centers, making it eas
Executing HPC/AI Growth Strategy with Industry-Leading Strategic Partners & Robust Balance Sheet - Revenue of $78 million, up 87% Y/Y -- Gross mining margin of 45%, down from 51% in Q2 2024 - - Master Site Plan for Panther Creek, PA data center campus submitted to Macquarie -- Partnered with data center builder and operator T5 Data Centers to advance HPC/AI development at its Panther Creek campus in Pennsylvania - This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and NE
TORONTO, Ontario and NEW YORK, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX:BITF) (the "Company"), a global energy and compute infrastructure company, today announced its partnership with T5 Data Centers, LLC ("T5") to advance HPC/AI development at its Panther Creek campus in Pennsylvania. T5 Data Centers is an established leader in data center design, construction and operations, providing a full range of data center services from development and construction to facility management and operation. They offer customizable, scalable solutions for both enterprise and hyperscale clients, ensuring reliable high-performance computing environments. This strategic engagement w
TORONTO, Ontario and NEW YORK, July 29, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF) ("Bitfarms" or the "Company"), a global energy and compute infrastructure company, will report its second quarter 2025 financial results on Tuesday, August 12th before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q2 2025 materials will be available before the call and can be accessed on the ‘Financial Results' section of the Bitfarms investor site. The live webcast and a webcast replay of the conference call can be accessed here. To access the call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. About Bi
TORONTO and NEW YORK, July 28, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX:BITF) (the "Company"), a global energy and compute infrastructure company, today announced that the New York City office it acquired as part of the previous acquisition of Stronghold Digital Mining, Inc. will be identified as Bitfarms' second Principal Executive Office ("PEO") in its filings with the securities commissions in Canada and with the United States Securities and Exchange Commission. The Company is also planning to prepare its financial statements under U.S. Generally Accepted Accounting Principles ("U.S. GAAP") to better align with other companies within their industry. This transition from IFRS A
This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario, July 22, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX:BITF) ("Bitfarms" or the "Company"), a global energy and compute infrastructure company, today announced that the Board of Directors has approved effective immediately the commencement of a corporate share buyback program. Toronto Stock Exchange (the "TSX") has accepted the notice filed by the Company to establish a normal course issuer bid program (the "Program"). Under the Prog
DUBAI, UAE, July 16, 2025 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, is thrilled to announce the listing of three new equities — SharpLink Gaming Ltd. (NASDAQ:SBET), CleanSpark Inc. (NASDAQ:CLSK) and Bitfarms Ltd. (NASDAQ:BITF) — on its TradFi platform, expanding its offerings at the intersection of traditional finance and digital assets. Among the newly listed stocks, SharpLink Gaming Ltd. (SBET) is drawing significant market attention. According to recent media reports, SBET has acquired approximately 74,656 ETH, valued at around $213 million, positioning it among the largest institutional holders of Ethereum. This development has led some
This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario, July 01, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX:BITF) (the "Company"), a global vertically integrated Bitcoin data center company, today announces the results of its annual general and special meeting of shareholders (the "Meeting"), held virtually on June 30, 2025. A total of 224,085,154 common shares, representing 43.9% of the issued and outstanding common shares ("Common Shares") of the Company, were represented at the Meeting i
- Revenue of $67 million, up 33% Y/Y -- Gross mining margin of 43%, down from 63% from Q1 2024 -- Total energy pipeline of ~1.4 GW, ~80% based in the U.S. -- Private debt facility announced in April 2025 with division of Macquarie Group for up to $300 million to fund initial HPC project development at Panther Creek, validating the attractiveness of Bitfarms' potential HPC data center development pipeline - This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario, May 14, 2025 (GLOBE NEWSWIRE) -- Bi
TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF), a global energy and compute infrastructure company, will report its first quarter 2025 financial results on Wednesday, May 14th before the market opens. Management will host a conference call on the same day at 8:00 am ET. All Q1 2025 materials will be available before the call and can be accessed on the ‘Financial Results' section of the Bitfarms investor site. The live webcast and a webcast replay of the conference call can be accessed here. To access the call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. About Bitfarms Ltd. Founded in 2017, Bitfarms is a global
TORONTO, Ontario and NEW YORK, N.Y., Aug. 18, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX:BITF) (the "Company"), a global energy and compute infrastructure company, today announced that the Board of Directors (the "Board") has unanimously approved the appointment of Wayne Duso to the Company's Board, effective immediately. With the appointment of Mr. Duso, Bitfarms' Board is now comprised of seven directors, six of whom are independent. Mr. Duso is a distinguished senior engineering and product executive with over 25 years' experience developing enterprise technologies. He is renowned for his leadership in cloud storage systems that support large-scale data centers, making it eas
- Operational hashrate of 19.5 EHuM and fleet efficiency of 19 w/TH–-Completes acquisition of Stronghold Digital Mining & sale of Yguazu, Paraguay data center--Appoints two new key HPC/AI and Infrastructure Executives- This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, April 01, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF), a global energy and compute infrastructure company, today issued its latest monthly production report. All financial references are in U.S. dollars. CEO Ben Gagnon s
TORONTO, March 26, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF), a global Bitcoin and vertically integrated data center company, today announced that it has appointed James Bond as Senior Vice President of High-Performance Computing ("HPC"). Mr. Bond is a subject matter expert in HPC/AI with a proven record of launching new cloud and service provider offerings for large scale data centers across the U.S. He has over 20 years' experience in public sector solution architecture and IT infrastructure design and implementation, including 15 years at Hewlett Packard Enterprise ("HPE") where he most recently led their North America HPC/AI infrastructure platforms category. Under his
- Operational hashrate of 16.1 EH/s –- Acquisition of Stronghold Digital Mining & sale of Yguazu site on track for Q1 2025 close –-Appoints Craig Hibbard to SVP of Infrastructure- This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, March 03, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF), a global Bitcoin and vertically integrated data center company, today issued its latest monthly production report. All financial references are in U.S. dollars. CEO Ben Gagnon stated, "We are on track to cl
This news release constitutes a "designated news release" for the purposes of the Company's amended and restated prospectus supplement dated October 4, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and BROSSARD, Québec, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF), a global leader in vertically integrated Bitcoin data center operations, today announced its latest monthly production report. All financial references are in U.S. dollars. Bitfarms achieved an operating hashrate of 12.8 EH/s in November with initial deployment of miners to Stronghold Digital Mining's sites in Pennsylvania under the hosting agreements announced in
- Bitfarms Board of Directors Increased to Six Members, Five of whom are Independent –-Andrew J. Chang Appointed as Independent Director--Shareholder Rights Plan Approved- This news release constitutes a "designated news release" for the purposes of the Company's amended and restated prospectus supplement dated October 4, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and BROSSARD, Québec , Nov. 20, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF) ("Bitfarms" or, the "Company"), a global leader in vertically integrated Bitcoin data center operations, today announced the results of its special meeting (the "Special Meeting") of shareholders
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and BROSSARD, Québec, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (TSX:BITF), a global leader in vertically integrated Bitcoin data center operations, today announced that it has appointed Rachel Silverstein as U.S. General Counsel, a newly created role, effective November 1, 2024. Ms. Silverstein has been a practicing attorney for over 16 years and is one of the most experienced Bitcoin mining-focused attorneys in the U.S., having served as lead counsel on well over a g
- Andrés Finkielsztain Steps Down from Board - - Bitfarms Appoints Amy Freedman to Board of Directors - - Board to Nominate an Independent Director for Election at Special Meeting - - Standstill Agreement Through 2026 Annual Meeting - This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and BROSSARD, Québec and CASTLE ROCK, Colo., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (TSX:BITF) ("Bitfarms" or the "Company"), a global leader in vertically integrated Bitcoin data center operations, and Riot Platforms Inc.
-Appoints Alex Brammer to Senior Vice President of Global Mining Operations- -Promotes Benoit Gobeil to Chief Infrastructure Officer- -Separates Mining Operations into two divisions, Infrastructure and Mining Operations- This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and BROSSARD, Québec, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (TSX:BITF) ("Bitfarms" or the "Company"), a global vertically integrated Bitcoin data center company, today announced the following enhancements to its Operations teams. Effective immed
-CEO Ben Gagnon Appointed to the Board; Lead Director Brian Howlett appointed Independent Chairman--Co-Founder and Chairman Nicolas Bonta to Step Down--Seasoned Operating Executive Liam Wilson to Join as Chief Operating Officer- This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and BROSSARD, Québec, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (TSX:BITF), a global vertically integrated Bitcoin data center company, today announced updates to its Board of Directors and Executive Team. Board of DirectorsBen Gagnon, Chief E
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Executing HPC/AI Growth Strategy with Industry-Leading Strategic Partners & Robust Balance Sheet - Revenue of $78 million, up 87% Y/Y -- Gross mining margin of 45%, down from 51% in Q2 2024 - - Master Site Plan for Panther Creek, PA data center campus submitted to Macquarie -- Partnered with data center builder and operator T5 Data Centers to advance HPC/AI development at its Panther Creek campus in Pennsylvania - This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and NE
TORONTO, Ontario and NEW YORK, July 29, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF) ("Bitfarms" or the "Company"), a global energy and compute infrastructure company, will report its second quarter 2025 financial results on Tuesday, August 12th before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q2 2025 materials will be available before the call and can be accessed on the ‘Financial Results' section of the Bitfarms investor site. The live webcast and a webcast replay of the conference call can be accessed here. To access the call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. About Bi
- Revenue of $67 million, up 33% Y/Y -- Gross mining margin of 43%, down from 63% from Q1 2024 -- Total energy pipeline of ~1.4 GW, ~80% based in the U.S. -- Private debt facility announced in April 2025 with division of Macquarie Group for up to $300 million to fund initial HPC project development at Panther Creek, validating the attractiveness of Bitfarms' potential HPC data center development pipeline - This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario, May 14, 2025 (GLOBE NEWSWIRE) -- Bi
TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF), a global energy and compute infrastructure company, will report its first quarter 2025 financial results on Wednesday, May 14th before the market opens. Management will host a conference call on the same day at 8:00 am ET. All Q1 2025 materials will be available before the call and can be accessed on the ‘Financial Results' section of the Bitfarms investor site. The live webcast and a webcast replay of the conference call can be accessed here. To access the call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. About Bitfarms Ltd. Founded in 2017, Bitfarms is a global
Initial draw at close of $50 million, with up to a total of $300 million available upon entry into definitive project loan documentationEarly-stage investment from a division of Macquarie Group, one of the world's largest infrastructure investors, further validates the attractiveness of Bitfarms' potential HPC data center development pipeline, especially its near-term project at Panther CreekA $300 million facility is expected to provide the necessary capital for Bitfarms to fund the initial portion of the Panther Creek data center development and buildout in a non-dilutive manner This news release constitutes a "designated news release" for the purposes of the Company's amended and resta
- Revenue of $56 million, up 21% Y/Y -- Gross mining margin of 47%, down from 57% from Q4 2023 -- 18.6 EHuM up 186% from Q4 2023-- Current efficiency of 19w/TH a 45% improvement from Q4 2023--Total energy pipeline of ~1.4 GW, ~80% based in the U.S.--Completed acquisition of Stronghold Digital Mining & sale of Yguazu, Paraguay data center- This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and BROSSARD, Québec, March 27, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX:BITF), a global vertica
TORONTO, Ontario, March 19, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF), a global Bitcoin and vertically integrated data center company, will report its fourth quarter and full year 2024 financial results on Thursday, March 27 before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q4 2024 materials will be available before the call and can be accessed on the ‘Financial Results' section of the Bitfarms investor site. The live webcast and a webcast replay of the conference call can be accessed here. To access the call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. About Bitfarms Ltd. Found
- Revenue of $45 million, up 8% Q/Q and up 30% Y/Y - - Gross mining margin of 38%, compared to 51% in Q2 2024 and 44% in Q3 2023 - - Current hashrate of 11.9 EH/s, up from 10.4 EH/s in Q2 2024 - - Current efficiency of 21 w/TH, a 16% improvement from June 30, 2024 - - Synthetic HODL increased to 802 at October 31, 2024 from 208 long-dated BTC call options at June 30, 2024, up 286% - This news release constitutes a "designated news release" for the purposes of the Company's amended and restated prospectus supplement dated October 4, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and BROSSARD, Québec, Nov. 13, 2024
TORONTO, Ontario and BROSSARD, Québec, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX:BITF), a global vertically integrated Bitcoin data center company, announced today that it will be rescheduling its third quarter 2024 financial results conference call. The Company will report its third quarter 2024 financial results on Wednesday, November 13th, before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q3 2024 materials will be available before the call and can be accessed on the ‘Financial Results' section of the Bitfarms investor site. For those that have already registered, all links will remain the same as previously announced.
TORONTO, Ontario and BROSSARD, Québec, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (TSX:BITF), a global vertically integrated Bitcoin data center company, will report its third quarter 2024 financial results on Tuesday, November 12th, before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q3 2024 materials will be available before the call and can be accessed on the ‘Financial Results' section of the Bitfarms investor site. The live webcast and a webcast replay of the conference call can be accessed here. To access the call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. About Bitfarms Ltd. Founde