Bitfarms Ltd.
NASDAQ Global MarketCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Benjamin J. Gagnon
- Full Time Employees
- 170
- Sector
- Financial Services
- Industry
- Financial - Capital Markets
- Address
- 18 King Street East Toronto ON Canada M5C 1C4
- IPO Date
- Aug 16, 2019
- CIK
- 0001812477
- Website
- bitfarms.com
- Similar Companies
- Business
- Bitfarms Ltd. (Nasdaq/TSX: BITF) operates as a global vertically integrated Bitcoin mining and high-performance computing (HPC) infrastructure company that develops, owns, and manages data centers equipped with specialized computers to validate transactions on the Bitcoin blockchain and sell computational hashing power to mining pools; it also hosts third-party mining hardware, provides electrical engineering and installation services through its Volta subsidiary primarily to commercial and residential customers in Quebec, Canada, and pursues HPC/AI data center development leveraging its power portfolio. The company maintains 15 active data centers with 461 MW of energized capacity across North America, including sites in the United States (Panther Creek, Scrubgrass, Washington, Sharon), Canada (Bunker, Leger, Baie Comeau, Garlock, Cowansville, St. Hyacinthe, Magog, Farnham), Argentina (Rio Cuarto), and Paraguay (Paso Pe, Villarrica), supported predominantly by low-cost renewable hydroelectric power exceeding 99% of energy usage for sustainable operations targeting cryptocurrency miners, HPC/AI hyperscalers, and institutional clients. Founded in 2017 and headquartered at 110 Yonge Street, Suite 1601, Toronto, Ontario, M5C 1C4, Canada, Bitfarms changed its name from Bitfarms Technologies Ltd. in October 2018 and employs approximately 170 people focused on proprietary data analytics for operational efficiency and uptime. Recent strategic developments include the March 2025 completion of its $175 million all-stock acquisition of Stronghold Digital Mining, Inc., expanding U.S. power capacity toward 950 MW by year-end with nearly 50% in the U.S. and positioning it as the leading Bitcoin miner in the PJM market while adding a 1.1 GW pipeline for HPC/AI; an April 2025 agreement for a up to $300 million private debt facility with Macquarie Equipment Capital, Inc., featuring an initial $50 million draw for Panther Creek HPC project soft costs and up to $250 million more upon milestones; an August 2025 partnership with T5 Data Centers, LLC to advance HPC/AI infrastructure at the Panther Creek campus serving seven major U.S. hyperscalers amid supportive Pennsylvania policies and a $90 billion White House AI investment commitment; discontinuation of Argentina and Paraguay operations in Q3 2025 due to energy and economic challenges to refocus on North American growth; submission of a master site plan for Panther Creek; an upsized $588 million convertible senior notes offering closed in Q3 2025 providing $814 million liquidity for corporate purposes and infrastructure; Q3 2025 revenue of $69 million from continuing operations (up 156% year-over-year) and $14 million from discontinued operations; and strategic hires including a new CFO with infrastructure financing expertise plus board expansions to support HPC/AI scaling.
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