Tearsheet

Bitfarms (BITF)

Market Price (12/28/2025): $2.46 | Market Cap: $1.4 Bil
Sector: Financials | Industry: Diversified Capital Markets

Bitfarms (BITF)

Market Price (12/28/2025): $2.46
Market Cap: $1.4 Bil
Sector: Financials
Industry: Diversified Capital Markets

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -13%	Weak multi-year price returns 2Y Excs Rtn is -60%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -101 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -33%
1	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 88%	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%	Stock price has recently run up significantly 6M Rtn6 month market price return is 232%
2	Megatrend and thematic drivers Megatrends include Crypto & Blockchain, and Renewable Energy Transition. Themes include Cryptocurrency Mining, and Sustainable Energy Sourcing.		Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -63%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -112%
3			Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 155%
4			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14%
5			High stock price volatility Vol 12M is 104%
6			Key risks BITF key risks include [1] legal and regulatory scrutiny stemming from a class-action lawsuit and financial restatements and [2] intense competitive pressure from larger, Show more.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -13%
1	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 88%
2	Megatrend and thematic drivers Megatrends include Crypto & Blockchain, and Renewable Energy Transition. Themes include Cryptocurrency Mining, and Sustainable Energy Sourcing.
3	Weak multi-year price returns 2Y Excs Rtn is -60%
4	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%
5	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -101 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -33%
6	Stock price has recently run up significantly 6M Rtn6 month market price return is 232%
7	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -63%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -112%
8	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 155%
9	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14%
10	High stock price volatility Vol 12M is 104%
11	Key risks BITF key risks include [1] legal and regulatory scrutiny stemming from a class-action lawsuit and financial restatements and [2] intense competitive pressure from larger, Show more.

Valuation, Metrics & Events

	12/28/25	2024	2023	2022	2021
Share Price CYE	$2.46	$1.49	$2.91	$0.44	$5.05
Market Cap CYE ($ Bil)	1.4	0.7	0.9	0.1	0.9
Total Debt ($ Bil)	0.1	0.0	0.0	0.1	0.1
Total Cash ($ Bil)	0.3	0.1	0.1	0.0	0.2
Enterprise Value ($ Bil)	1.2	0.7	0.9	0.2	1.0
Valuation Ratios
P/S TTM	4.4	3.2	5.2	0.6	4.7
P/EBIT TTM	-11.2	-9.3	-7.3	-0.5	17.3
P/E TTM	-10.5	-11.4	-7.0	-0.5	36.0
P/FCF TTM	-3.9	-1.3	-4.3	-0.3	-3.4
Sector Ratios
P/S TTM (Sector)	3.3	3.1	2.8	2.8	3.4
P/EBIT TTM (Sector)	8.0	8.3	7.3	7.6	7.2
P/E TTM (Sector)	12.0	11.6	10.1	9.4	10.1
P/FCF TTM (Sector)	8.7	8.8	7.8	6.5	7.4

	12/28/25	2024	2023
Share Price CYE	$2.46	$1.49	$2.91
Market Cap CYE ($ Bil)	1.4	0.7	0.9
Total Debt ($ Bil)	0.1	0.0	0.0
Total Cash ($ Bil)	0.3	0.1	0.1
Enterprise Value ($ Bil)	1.2	0.7	0.9
Valuation Ratios
P/S TTM	4.4	3.2	5.2
P/EBIT TTM	-11.2	-9.3	-7.3
P/E TTM	-10.5	-11.4	-7.0
P/FCF TTM	-3.9	-1.3	-4.3
Sector Ratios
P/S TTM (Sector)	3.3	3.1	2.8
P/EBIT TTM (Sector)	8.0	8.3	7.3
P/E TTM (Sector)	12.0	11.6	10.1
P/FCF TTM (Sector)	8.7	8.8	7.8

	BITF	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	0.3
Rev Chg Q	155.8%	7.3%
Rev Chg LTM	88.4%	6.1%
Rev Chg 3Y Avg	30.3%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.1
CFO LTM ($ Bil)	-0.2
Net Inc LTM ($ Bil)	-0.1
Op Mgn LTM	-32.6%	18.8%
CFO/Rev LTM	-63.1%	20.4%
Net Inc Mgn	-41.9%	13.1%
VALUATION	MODERATE
P/S	4.4	3.3
P/CFO	-7.0	15.8
P/FCF	-3.9	20.7
P/E	-10.5	23.7

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Metric	Value	Date	Source
Operating Hashrate	17.7 EH/s	6302025	Link
Bitcoin Mined (Quarterly)	718 BTC	6302025	Link
Fleet Efficiency	19 w/TH	6302025	Link
Bitcoin in Treasury	1,402 BTC	8112025	Link
Operational Capacity	410 MW	6302025	Link
Number of Operating Data Centers	11	11052025	Link

Upcoming
3/26/2026	Earnings Release	Rev: - EPS: -

BITF Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are the key points highlighting why Bitfarms (BITF) stock moved by approximately 85.1% from August 31, 2025, to December 28, 2025:

1. Strategic Shift Towards HPC/AI Infrastructure: Bitfarms continued to aggressively pivot its business model from pure Bitcoin mining to becoming a North American energy and digital infrastructure company focused on High-Performance Computing (HPC) and Artificial Intelligence (AI). This strategic repositioning, aiming to capitalize on surging demand in these sectors, generated significant investor optimism. The company announced plans in November 2025 to convert its 18 MW Washington site for HPC/AI workloads, targeting completion by December 2026, and secured a fully binding agreement for $128 million to supply critical IT equipment and building materials.

2. Successful Convertible Notes Offering and Enhanced Liquidity: In October 2025, Bitfarms successfully closed an upsized offering of $588 million in convertible senior notes. This substantial capital raise, achieved at favorable terms, significantly bolstered the company's financial flexibility, leading to approximately $814 million in total liquidity as of November 12, 2025, a considerable increase from $230 million in August 2025. These funds were primarily earmarked to accelerate the development of its HPC/AI infrastructure projects.

3. Strong Q3 2025 Revenue Growth from Continuing Operations: Bitfarms reported robust financial results for the third quarter ended September 30, 2025, with revenue from continuing operations reaching $69 million, marking a significant 156% year-over-year increase. This strong performance in its continuing operations, despite an overall net loss, signaled progress in its strategic transition and contributed to positive market sentiment.

4. Significant Institutional Investment and Analyst Optimism: Aurelius Capital Management, LP disclosed a new and substantial equity position in Bitfarms in November 2025, acquiring over 6.7 million shares valued at $19 million as of September 30, 2025. This made Bitfarms the fund's largest reported U.S. equity holding, signaling strong institutional confidence in the company's strategic direction. Analysts also expressed optimism regarding the company's pivot into the booming AI compute market, contributing to positive price targets.

5. Inclusion in the S&P/TSX Composite Index: On December 22, 2025, Bitfarms was included in the S&P/TSX Composite Index. This inclusion was a definitive milestone that led to mandatory buying from index-tracking funds and generated renewed interest from institutional investors, contributing to an immediate surge in Bitfarms' share price by over 11%.

Stock Movement Drivers

Fundamental Drivers

The -2.4% change in BITF stock from 9/27/2025 to 12/27/2025 was primarily driven by a -15.5% change in the company's P/S Multiple.

	9272025	12272025	Change
Stock Price ($)	2.54	2.48	-2.36%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	269.08	311.25	15.67%
P/S Multiple	5.25	4.43	-15.49%
Shares Outstanding (Mil)	555.84	556.54	-0.13%
Cumulative Contribution			-2.36%

LTM = Last Twelve Months as of date shown

Market Drivers

9/27/2025 to 12/27/2025

	Return	Correlation
BITF	-2.4%
Market (SPY)	4.3%	44.9%
Sector (XLF)	3.3%	31.8%

Fundamental Drivers

The 232.4% change in BITF stock from 6/28/2025 to 12/27/2025 was primarily driven by a 176.6% change in the company's P/S Multiple.

	6282025	12272025	Change
Stock Price ($)	0.75	2.48	232.35%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	232.83	311.25	33.68%
P/S Multiple	1.60	4.43	176.63%
Shares Outstanding (Mil)	500.16	556.54	-11.27%
Cumulative Contribution			228.13%

LTM = Last Twelve Months as of date shown

Market Drivers

6/28/2025 to 12/27/2025

	Return	Correlation
BITF	232.4%
Market (SPY)	12.6%	37.2%
Sector (XLF)	7.4%	26.8%

Fundamental Drivers

The 52.1% change in BITF stock from 12/27/2024 to 12/27/2025 was primarily driven by a 88.4% change in the company's Total Revenues ($ Mil).

	12272024	12272025	Change
Stock Price ($)	1.63	2.48	52.15%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	165.18	311.25	88.43%
P/S Multiple	4.43	4.43	0.15%
Shares Outstanding (Mil)	448.71	556.54	-24.03%
Cumulative Contribution			43.36%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2024 to 12/27/2025

	Return	Correlation
BITF	52.1%
Market (SPY)	17.0%	46.2%
Sector (XLF)	15.3%	35.1%

Fundamental Drivers

The 518.9% change in BITF stock from 12/28/2022 to 12/27/2025 was primarily driven by a 820.5% change in the company's P/S Multiple.

	12282022	12272025	Change
Stock Price ($)	0.40	2.48	518.92%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	174.99	311.25	77.87%
P/S Multiple	0.48	4.43	820.51%
Shares Outstanding (Mil)	210.38	556.54	-164.54%
Cumulative Contribution			-1156.76%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2023 to 12/27/2025

	Return	Correlation
BITF	-25.3%
Market (SPY)	48.0%	44.2%
Sector (XLF)	51.3%	35.4%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
BITF Return	-	28%	-91%	561%	-49%	79%	-33%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
BITF Win Rate	-	57%	17%	67%	42%	42%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
BITF Max Drawdown	-	-23%	-92%	-3%	-49%	-54%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	BITF	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-95.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	2234.2%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Bitfarms's stock fell -95.7% during the 2022 Inflation Shock from a high on 11/9/2021. A -95.7% loss requires a 2234.2% gain to breakeven.

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About Bitfarms (BITF)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in North America. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada. It also undertakes hosting of third-party mining hardware. The company was founded in 2017 and is headquartered in Toronto, Canada.

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The Barrick Gold of Bitcoin.

An ExxonMobil for Bitcoin.

Like an AWS data center, but dedicated to Bitcoin production.

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Mined Bitcoin: Bitfarms operates industrial-scale data centers to generate new Bitcoin through the process of cryptocurrency mining.

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Bitfarms (BITF) is a global Bitcoin mining company. Its core business involves operating large-scale data centers to mine Bitcoin. Therefore, its revenue is primarily generated from the Bitcoin it successfully mines and subsequently sells.

In this context, Bitfarms does not have 'major customers' in the traditional sense of companies that purchase specific products or services directly from Bitfarms through long-term contracts or significant recurring sales relationships. Instead, Bitfarms sells the Bitcoin it mines on open cryptocurrency exchanges.

These sales are commodity-based, and the 'customers' are the diverse participants in the global cryptocurrency market who purchase Bitcoin on these exchanges. These market participants can include institutional investors, trading firms, and individual buyers, but they are not direct customers of Bitfarms in the typical business-to-business (B2B) or business-to-consumer (B2C) sense.

Given the nature of its business as a commodity producer selling on open markets, Bitfarms does not primarily sell to a defined list of other companies, nor does it directly serve specific categories of individual customers for its core mining output. Its revenue is derived from liquidating its mined digital assets into fiat currency or other digital assets via market transactions on various exchanges, rather than having identifiable major customers.

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Bitmain Technologies Limited

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Ben Gagnon, Chief Executive Officer & Director

Ben Gagnon was appointed CEO of Bitfarms in July 2024, having previously served as Chief Mining Officer since 2021, Director of Mining Operations in 2020, and Director of Business Development in 2019. Before joining Bitfarms, Mr. Gagnon founded and operated two Bitcoin mining companies, holding roles such as Chief Executive Officer, Chief Mining Officer, and Chief Technology Officer.

Jonathan Mir, Chief Financial Officer

Jonathan Mir was appointed Chief Financial Officer of Bitfarms, effective October 27, 2025. He is a global financial and strategic executive with over 25 years of capital markets experience in energy infrastructure. Mr. Mir spent a significant portion of his career at Lazard Inc., where he held the position of Head of North American Power, Energy & Infrastructure.

Liam Wilson, Chief Operating Officer

Liam Wilson serves as the Chief Operating Officer of Bitfarms. Further background details were not explicitly provided in the search results.

Philippe Fortier, Executive Vice President, Corporate Development

Philippe Fortier leads Bitfarms' strategic growth initiatives, encompassing data center development, business acquisitions, and expansion opportunities. He possesses expertise in corporate finance, mergers and acquisitions (M&A), capital raising, and financial strategy. Before joining Bitfarms in 2022, Mr. Fortier worked as a corporate finance and investment advisor for various public and private clients. His earlier career includes roles in investment banking at National Bank Financial Markets and in private equity at BDG & Partners. Mr. Fortier began his professional journey as an auditor with Deloitte.

Marc-André Ammann, CPA, CA, Senior Vice President, Finance and Accounting

Marc-André Ammann is the Senior Vice President, Finance and Accounting at Bitfarms. Further background details were not explicitly provided in the search results.

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Bitfarms (BITF) faces several key risks inherent to its operations in the cryptocurrency mining sector.

Cryptocurrency Price Volatility and Market Conditions: Bitfarms' revenue and profitability are heavily dependent on the highly volatile cryptocurrency market, particularly the price of Bitcoin. Fluctuations in Bitcoin prices and increased energy costs have significantly impacted the company's revenue and ability to maintain profitability, with the stock historically amplifying Bitcoin's price swings. A prolonged downturn in cryptocurrency prices can lead to substantial losses and operational challenges.
Legal Challenges, Regulatory Scrutiny, and Financial Reporting Issues: The company has been subject to a class-action lawsuit and an SEC review concerning its financial reporting practices, leading to restatements of financial statements for 2022 and 2023. These issues raise concerns about Bitfarms' business transparency and financial management, potentially resulting in significant legal costs, reputational damage, and increased regulatory scrutiny.
Intense Industry Competition and Operational Costs: Bitfarms operates in a highly competitive cryptocurrency mining industry, facing challenges from larger, more established mining companies. The company also contends with rising operational costs, primarily energy expenses, and increasing Bitcoin network difficulty, which can negatively affect the number of Bitcoins mined and overall profitability.

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The increasing global regulatory scrutiny and potential for adverse legislation specifically targeting energy-intensive Proof-of-Work (PoW) cryptocurrency mining operations. This includes ongoing discussions and proposals in various jurisdictions (e.g., within the European Union, and certain US states) regarding outright bans, increased taxes, or significant restrictions on energy consumption for such activities, driven by environmental and energy grid stability concerns. Such policy shifts represent a clear emerging threat that could fundamentally impact the operational viability and profitability of Bitfarms' business model in key regions.

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Bitfarms (symbol: BITF) operates primarily in cryptocurrency mining, with a significant focus on Bitcoin mining, and also provides infrastructure and hosting services. The company is also involved in blockchain technology development.

Bitcoin Miner Market: The global Bitcoin Miner Market size is projected to reach USD 14.17 billion in 2025. In terms of regional markets, North America accounts for 33% of this market. The U.S. contributes over 50% of global annual hardware installations for Bitcoin mining.
Cryptocurrency Mining Market (overall): The global cryptocurrency mining market is estimated at USD 3.39 billion in 2025. North America is identified as the dominant region in the global cryptocurrency mining market.
Blockchain Technology Market: The global blockchain technology market size is projected to reach USD 31.18 billion in 2025. North America holds the largest market share in the blockchain technology industry.

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Here are 3-5 expected drivers of future revenue growth for Bitfarms (BITF) over the next 2-3 years:

Expansion into High-Performance Computing (HPC) and Artificial Intelligence (AI) Infrastructure: Bitfarms is strategically pivoting to develop and operate high-performance computing and AI data centers, notably at its Panther Creek campus in Pennsylvania. This initiative is supported by a significant project-specific financing facility of up to $300 million from Macquarie Group, with an initial draw of $50 million to accelerate equipment purchases and development. The company has partnered with T5 Data Centers for pre-construction planning and development approval processes for the HPC/AI infrastructure. This diversification beyond Bitcoin mining is expected to generate significant revenue prospects, with analysts projecting potential annual recurring revenue (ARR) of $12 to $15 million in 2026, escalating to over $100 million as usage grows. The Panther Creek campus is planned to have a nearly 500-megawatt capacity, fueling demand for computational power and data storage.
Growth in Bitcoin Mining Hashrate and Operational Efficiency: Bitfarms continues to expand and optimize its core Bitcoin mining operations. The company has significantly increased its hashrate, reaching 18.6 EH/s and improving efficiency to 19 W/TH (watts per terahash) ahead of schedule in Q4 2024. They have a multi-year growth potential in their megawatt pipeline up to 1.6 gigawatts by the end of 2025, and have been upgrading their mining fleet with more powerful and efficient S21 Pro miners. These efforts are aimed at enhancing Bitcoin production and improving mining profitability.
Strategic Acquisitions and North American Geographic Expansion: The acquisition of Stronghold Digital Mining, anticipated to close by Q1 2025, is a transformative deal that significantly enhances Bitfarms' U.S. presence and operational capacity. This acquisition is expected to drive a 47% increase in the company's 2025 year-end megawatts from 648 MW to over 950 MW, rebalancing their energy portfolio towards North America. The company is also establishing a second principal executive office in New York City to further its U.S. pivot and broaden its investor base.
Leveraging Bitcoin Price Appreciation and "Bitcoin One" Program: While subject to market volatility, a favorable Bitcoin price environment can significantly boost Bitfarms' mining revenue. The company also introduced its "Bitcoin One" program in 2025, an actively managed, leveraged Bitcoin accumulation strategy that aims to capitalize on Bitcoin's volatility through the purchase of call and put options for enhanced returns and risk management. This program generated $11 million in profits in its first six months in 2025.

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Share Repurchases

Bitfarms authorized a share buyback program to repurchase up to 49.9 million common shares (10% of its public float) over a 12-month period from July 28, 2025, to July 27, 2026.
As of August 8, 2025, the company had repurchased 4.9 million shares, representing 10% of the shares available for repurchase, at an average price of $1.24 per share.

Share Issuance

Bitfarms raised $136 million in net proceeds during Q2 2024 and a total of $240 million through August 7, 2024, via its 2024 at-the-market (ATM) equity offering program.
By November 12, 2024, total year-to-date net proceeds from the 2024 ATM program reached $279 million, with an additional $66 million raised in Q3 2024.
The company issued approximately 59.7 million shares and 10.6 million warrants in March 2025 as part of the stock-for-stock merger to acquire Stronghold Digital Mining.

Outbound Investments

Bitfarms completed the acquisition of Stronghold Digital Mining in March 2025, which included issuing shares and warrants, and paying an additional $44.5 million to retire Stronghold's outstanding loans.
The company acquired a 200 MW site in Paraguay for $85 million to expand its international operations.
As of October 31, 2024, Bitfarms deposited $15.6 million with Stronghold in connection with two hosting agreements.

Capital Expenditures

The company aims to triple its hashrate to 21 EH/s by the end of 2024, increase operating capacity by at least 63% to 391 MW, and improve fleet efficiency by 34% to 23 w/TH, with significant purchases of Bitmain T21 miners planned for installation throughout 2024.
Identified capital expenditure requirements for 2025 are 20% lower than previously planned, with no large miner purchases expected in 2025 or 2026, as capital is redirected towards developing U.S. energy and High-Performance Computing (HPC) infrastructure.
Bitfarms expects to break ground on its 350 MW Panther Creek HPC/AI campus in Q4 2025, with energization for Phase 1 targeted by year-end 2026, supported by a $100 million draw from a Macquarie facility for equipment and construction.

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BN (24.1%)

Brookfield

Higher CFO/Rev LTM (Value for BITF: -63.1%)

V (57.6%)

Visa

BAC (57.3%)

Bank of America

MA (56.1%)

Mastercard

BRK-B (9.8%)

Berkshire Hathaway

WFC (-17.2%)

Wells Fargo

Higher FCF/Rev LTM (Value for BITF: -111.5%)

BAC (57.3%)

Bank of America

V (53.9%)

Visa

MA (52.5%)

Mastercard

BRK-B (4.8%)

Berkshire Hathaway

JPM (-66.7%)

JPMorgan Chase

Higher Total Yield (Value for BITF: -9.4%)

BAC (7.1%)

Bank of America

JPM (6.4%)

JPMorgan Chase

BRK-B (6.3%)

Berkshire Hathaway

V (5.1%)

Visa

MA (2.6%)

Mastercard

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for BITF: 30.3% | 4.4x)

MELI (39.5% | 3.9x)

MercadoLibre

LVS (51.6% | 3.7x)

Las Vegas Sands

CCL (45.9% | 1.5x)

Carnival

RIVN (103.0% | 4.4x)

Rivian Automotive

TOST (33.6% | 3.6x)

Toast

Higher Rev Chg LTM (Value for BITF: 88.4%)

CRWV (235.4%)

CoreWeave

CRDO (224.2%)

Credo Technology

EXE (169.1%)

Expand Energy

DLTR (156.4%)

Dollar Tree

ALAB (136.5%)

Astera Labs

Higher Rev Chg 3Y Avg (Value for BITF: 30.3%)

NVDA (91.6%)

NVIDIA

MELI (39.5%)

MercadoLibre

RCL (37.7%)

Royal Caribbean

APP (36.0%)

AppLovin

CRWD (31.1%)

CrowdStrike

Higher Op Mgn LTM (Value for BITF: -32.6%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

AMZN (11.4%)

Amazon.com

Higher CFO/Rev LTM (Value for BITF: -63.1%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for BITF: -111.5%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

AMZN (2.0%)

Amazon.com

Higher Total Yield (Value for BITF: -9.4%)

MSFT (3.6%)

Microsoft

GOOGL (3.5%)

Alphabet

AMZN (2.9%)

Amazon.com

AAPL (2.8%)

Apple

NVDA (2.2%)

NVIDIA

		Best Bets In Financials Sector
	BITF	JXN	FG	MTG	CME	KNSL	NMIH	CACC	ENVA	TW	FNF
What You Pay
P/E	-10.6	13.2	9.2	9.1	26.4	19.2	8.4	11.3	14.0	36.5	12.6
P/EBIT	-11.3	10.5	5.8	6.9	19.8	15.0	6.2	9.0	10.8	24.7	8.1
What You Get
Rev Chg Q	155.8%	-35.5%	17.8%	-0.7%	-3.0%	19.0%	7.6%	6.0%	16.3%	13.3%	11.9%
Rev Chg LTM	88.4%	24.0%	-4.9%	2.2%	5.8%	18.1%	8.9%	10.2%	21.1%	22.2%	3.9%
Rev Chg 3Y Avg	30.3%	429.4%	22.0%	1.2%	8.9%	32.4%	10.3%	7.6%	23.5%	19.7%	2.1%
FCF/Rev 3Y Avg	-187.4%	847.0%	120.8%	62.2%	61.9%	60.8%	58.4%	55.6%	54.7%	49.8%	49.6%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 21%, alpha of 9.1%, and sharpe of 0.94

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Bitfarms Stock Drop Looks Sharp, But How Deep Can It Go?	Return
2	Day 10 of Gains Streak for Bitfarms Stock with 131% Return (vs. 334% YTD) [10/15/2025]	Notification
3	Day 9 of Gains Streak for Bitfarms Stock with 110% Return (vs. 295% YTD) [10/14/2025]	Notification
4	Day 8 of Gains Streak for Bitfarms Stock with 93% Return (vs. 262% YTD) [10/13/2025]	Notification
5	Day 7 of Gains Streak for Bitfarms Stock with 50% Return (vs. 182% YTD) [10/10/2025]	Notification
6	Day 8 of Gains Streak for Bitfarms Stock with 150% Return (vs. 115% YTD) [9/18/2025]	Notification
7	Day 7 of Gains Streak for Bitfarms Stock with 138% Return (vs. 105% YTD) [9/17/2025]	Notification
8	Day 6 of Gains Streak for Bitfarms Stock with 126% Return (vs. 94% YTD) [9/16/2025]	Notification

	Title
0	ARTICLES

Trade Ideas

Select ideas related to BITF. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
WU_11212025_Dip_Buyer_FCFYield	11212025	WU	Western Union	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.5%	14.5%	-0.4%
COIN_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	COIN	Coinbase Global	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-1.5%	-1.5%	-1.5%
PYPL_11142025_Dip_Buyer_FCFYield	11142025	PYPL	PayPal	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-4.5%	-4.5%	-7.5%
V_11142025_Monopoly_xInd_xCD_Getting_Cheaper	11142025	V	Visa	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	7.6%	7.6%	-2.7%
WD_11072025_Dip_Buyer_ValueBuy	11072025	WD	Walker & Dunlop	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-11.1%	-11.1%	-12.1%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Bitfarms

Peers to compare with:

Financials

	BITF	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Bitfarms	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	2.48	23.26	24.49	305.09	78.16	273.40	51.32
Mkt Cap	1.4	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	311	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	-101	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	-347	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	-345	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	-196	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	-175	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	BITF	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Bitfarms	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	88.4%	3.2%	13.8%	4.5%	8.9%	6.0%	7.4%
Rev Chg 3Y Avg	30.3%	-3.9%	6.5%	2.6%	3.7%	1.8%	3.2%
Rev Chg Q	155.8%	4.2%	14.4%	9.1%	7.5%	9.6%	9.4%
QoQ Delta Rev Chg LTM	15.7%	1.1%	3.7%	2.1%	1.8%	2.1%	2.1%
Op Mgn LTM	-32.6%	6.6%	4.8%	17.7%	22.5%	31.9%	12.1%
Op Mgn 3Y Avg	-46.0%	7.4%	7.2%	16.4%	24.2%	30.8%	11.9%
QoQ Delta Op Mgn LTM	7.9%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.2%
CFO/Rev LTM	-63.1%	6.7%	8.5%	20.6%	23.8%	26.6%	14.6%
CFO/Rev 3Y Avg	-94.3%	6.8%	12.7%	21.4%	26.1%	28.4%	17.1%
FCF/Rev LTM	-111.5%	5.1%	1.8%	18.1%	22.1%	23.5%	11.6%
FCF/Rev 3Y Avg	-187.4%	5.5%	4.6%	18.6%	24.6%	25.6%	12.1%

Valuation

	BITF	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Bitfarms	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	1.4	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	4.4	0.4	1.0	4.4	5.4	10.0	4.4
P/EBIT	-11.3	6.8	19.9	25.1	22.5	31.3	21.2
P/E	-10.6	8.6	572.7	36.0	29.9	41.0	33.0
P/CFO	-7.0	5.9	11.2	21.1	22.5	37.5	16.2
Total Yield	-9.4%	14.1%	2.3%	5.0%	5.4%	2.8%	3.9%
Dividend Yield	0.0%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	-46.3%	10.6%	5.5%	6.4%	6.0%	3.1%	5.7%
D/E	0.1	0.5	0.7	0.2	0.1	0.0	0.2
Net D/E	-0.1	0.3	0.6	0.2	0.0	0.0	0.1

Returns

	BITF	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Bitfarms	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	-20.0%	-1.8%	14.4%	0.6%	2.7%	-1.5%	-0.4%
3M Rtn	-2.4%	-11.9%	2.7%	7.9%	17.0%	7.1%	4.9%
6M Rtn	232.4%	-4.0%	34.5%	6.6%	15.2%	36.3%	24.9%
12M Rtn	52.1%	-27.0%	16.2%	40.5%	34.5%	7.5%	25.3%
3Y Rtn	518.9%	-1.9%	71.1%	143.1%	81.3%	120.2%	100.7%
1M Excs Rtn	-12.9%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-3.0%
3M Excs Rtn	-6.7%	-16.2%	-1.7%	3.6%	12.7%	2.8%	0.6%
6M Excs Rtn	220.1%	-16.3%	22.3%	-5.7%	3.0%	24.0%	12.6%
12M Excs Rtn	40.0%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	9.6%
3Y Excs Rtn	369.7%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	13.6%

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/13/2025	4/1/2025	3/7/2024	3/21/2023	3/28/2022	3/25/2021	4/29/2020
Key Financials
Total Revenue	311	193	146	142	169	35	32
Net Income	-130	-54	-109	-176	22	-16	3
EPS	-0.23	-0.13	-0.42	-0.85	0.14	-0.19	0.04
Growth Rates
Total Revenue Growth	88.4%	31.8%	2.8%	-16.0%	388.4%	7.0%	-4.1%
Net Income Growth	0.7%	50.4%	38.0%	-893.7%	235.9%	-661.9%	131.0%
Margins
Net Income Margin	-41.9%	-28.0%	-74.4%	-123.3%	13.1%	-46.9%	8.9%
Cash & Debt
Total Cash	258	147	116	35	192	6	2
Total Debt	74	23	20	65	85	28	22
Net Debt / (Cash)	-185	-123	-96	30	-107	22	20
Cash Flows
Net Cash from Operations	-196	-141	-106	-122	-43	7	6
Free Cash from Operations	-347	-480	-177	-317	-237	3	-18
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/13/2025	8/12/2025	5/14/2025	4/1/2025	11/13/2024	8/8/2024	5/15/2024	3/7/2024	11/7/2023	8/8/2023	5/15/2023	3/21/2023
Key Financials Quarterly
Total Revenue	69	78	67	97	27	42	50	46	35	35	30	27
Net Income	-81	-29	-36	15	-37	-27	-6	-62	-17	-26	-4	47
EPS	-0.15	-0.05	-0.07	0.04	-0.08	-0.07	-0.02	-0.23	-0.06	-0.11	-0.02	-0.08
Key Financials TTM
Total Revenue TTM	311	269	233	216	165	173	167	146	127	126	132	142
Net Income TTM	-130	-86	-84	-54	-131	-111	-111	-108	0	-68	-184	-176
Growth Rates Quarterly
Total Revenue Growth	155.8%	87.3%	32.9%	110.5%	-21.7%	17.1%	67.4%	71.0%	4.1%	-15.2%	-25.5%	-54.6%
Net Income Growth	-120.4%	-8.4%	-499.9%	124.4%	-122.0%	-2.0%	-61.6%	-233.2%	80.5%	81.6%	-181.9%	381.2%
Margins Quarterly
Net Income Margin	-116.6%	-37.1%	-53.7%	15.6%	-135.4%	-64.0%	-11.9%	-134.2%	-47.7%	-73.5%	-12.3%	172.2%
Cash & Debt
Total Cash	258	144	133	147	146	195	124	116	64	45	40	35
Total Debt	74	75	26	23	24	16	16	20	26	32	38	65
Net Debt / (Cash)	-185	-70	-107	-123	-122	-180	-108	-96	-37	-14	-2	30
Cash Flows Quarterly
FCF from Operations	-60	-75	-19	-43	-42	-24	-31	-116	8	1	1	-126
Cash Flows TTM
FCF from Operations TTM	-196	-178	-128	-141	-213	-164	-138	-106	-116	-108	-81	-122
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-8.6%	-8.5%	-9.0%	-2.3%	-14.7%	-16.4%	-8.4%	-13.0%	-14.6%	-12.1%	-12.7%	-8.0%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-10.1%	-9.7%	-11.2%	-10.8%	-12.0%	-13.3%	-13.0%	-13.9%	-7.3%	-2.1%	-12.5%	-9.6%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Cryptocurrency Mining	146	142	169	35
Backbone					29
Volta					3
Total	146	142	169	35	32

Price Behavior

Price Behavior

Market Price	$2.48
Market Cap ($ Bil)	1.4
First Trading Date	06/21/2021
Distance from 52W High	-61.7%
	50 Days	200 Days
DMA Price	$3.32	$1.91
DMA Trend	up	down
Distance from DMA	-25.3%	29.9%
	3M	1YR
Volatility	128.0%	104.5%
Downside Capture	571.50	321.34
Upside Capture	456.04	317.65
Correlation (SPY)	44.0%	46.3%

BITF Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	3.56	4.40	4.45	3.83	2.49	2.71
Up Beta	4.56	6.83	5.16	2.13	2.18	2.45
Down Beta	7.35	1.96	4.44	4.26	1.86	2.41
Up Capture	49%	644%	1098%	1353%	1371%	29900%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	6	18	29	59	110	331
Down Capture	375%	378%	241%	247%	161%	112%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	12	22	30	56	124	389

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

null

Based On 5-Year Data

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Based On 10-Year Data

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Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	80,725,419
Short Interest: % Change Since 11302025	-2.5%
Average Daily Volume	56,234,054
Days-to-Cover Short Interest	1.44
Basic Shares Quantity	556,539,628
Short % of Basic Shares	14.5%

Returns Analyses

	Title
0	Bitfarms Stock Drop Looks Sharp, But How Deep Can It Go?

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11132025	6-K 9/30/2025
6302025	8122025	6-K 6/30/2025
3312025	5142025	6-K 3/31/2025
12312024	4012025	40-F 12/31/2024
9302024	11132024	6-K 9/30/2024
6302024	8082024	6-K 6/30/2024
3312024	5152024	6-K 3/31/2024
12312023	3072024	40-F 12/31/2023
9302023	11072023	6-K 9/30/2023
6302023	8082023	6-K 6/30/2023
3312023	5152023	6-K 3/31/2023
12312022	3212023	40-F 12/31/2022
9302022	11142022	6-K 9/30/2022
6302022	8152022	6-K 6/30/2022
3312022	5162022	6-K 3/31/2022
12312021	3282022	40-F 12/31/2021

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Bitfarms (BITF)

Market Price (12/28/2025): $2.46 | Market Cap: $1.4 BilSector: Financials | Industry: Diversified Capital Markets

Bitfarms (BITF)

Market Price (12/28/2025): $2.46Market Cap: $1.4 BilSector: FinancialsIndustry: Diversified Capital Markets

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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BITF Stock

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About Bitfarms (BITF)

Interactive Breakdown

Better Bets than Bitfarms (BITF)

INDUSTRY: Diversified Capital Markets

Higher Rev Chg 3Y Avg | Lower P/S (Values for BITF: 30.3% | 4.4x)

Higher Rev Chg LTM (Value for BITF: 88.4%)

Higher Rev Chg 3Y Avg (Value for BITF: 30.3%)

Higher Op Mgn LTM (Value for BITF: -32.6%)

Higher CFO/Rev LTM (Value for BITF: -63.1%)

Higher FCF/Rev LTM (Value for BITF: -111.5%)

Higher Total Yield (Value for BITF: -9.4%)

SECTOR: Financials

Higher Rev Chg 3Y Avg | Lower P/S (Values for BITF: 30.3% | 4.4x)

Higher Rev Chg LTM (Value for BITF: 88.4%)

Higher Rev Chg 3Y Avg (Value for BITF: 30.3%)

Higher Op Mgn LTM (Value for BITF: -32.6%)

Higher CFO/Rev LTM (Value for BITF: -63.1%)

Higher FCF/Rev LTM (Value for BITF: -111.5%)

Higher Total Yield (Value for BITF: -9.4%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for BITF: 30.3% | 4.4x)

Higher Rev Chg LTM (Value for BITF: 88.4%)

Higher Rev Chg 3Y Avg (Value for BITF: 30.3%)

Higher Op Mgn LTM (Value for BITF: -32.6%)

Higher CFO/Rev LTM (Value for BITF: -63.1%)

Higher FCF/Rev LTM (Value for BITF: -111.5%)

Higher Total Yield (Value for BITF: -9.4%)

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Based On 1-Year Data

Market Price (12/28/2025): $2.46 | Market Cap: $1.4 Bil
Sector: Financials | Industry: Diversified Capital Markets

Market Price (12/28/2025): $2.46
Market Cap: $1.4 Bil
Sector: Financials
Industry: Diversified Capital Markets