Core Viewpoint - Bitfarms Ltd. is acquiring Stronghold Digital Mining, Inc. in a stock-for-stock merger valued at approximately US$125 million, which includes the assumption of US$50 million in debt, aiming to enhance its energy portfolio and operational capacity in Bitcoin mining [2][10]. Group 1: Transaction Overview - The merger agreement will allow Bitfarms to expand its energy portfolio to over 950 MW by the end of 2025, with nearly 50% of this capacity located in the U.S. [5][6]. - Stronghold has a current hashrate of 4.0 EH/s and the potential to increase it to approximately 10 EH/s by 2025 through fleet upgrades [3][5]. - The transaction is expected to generate approximately US$10 million in annual run-rate cost synergies [11]. Group 2: Strategic Benefits - The acquisition will vertically integrate Bitfarms into power generation, adding 165 MW of nameplate generated power capacity and 142 MW of current PJM import capacity, with potential expansion up to 790 MW [4][5]. - The combined company will leverage Stronghold's reclamation facilities, which have significant environmental benefits, including the potential to capture over 60,000 tons of carbon dioxide annually [7][8]. - The strategic location within the PJM grid provides opportunities for competitive power generation and utilization for Bitcoin mining and energy trading [4][5]. Group 3: Shareholder Impact - Stronghold shareholders will receive 2.52 shares of Bitfarms for each share they own, representing a 71% premium based on the 90-day volume-weighted average price [10]. - Upon closing, Stronghold shareholders are expected to own just under 10% of the combined company [10]. Group 4: Future Outlook - The merger is anticipated to close in the first quarter of 2025, subject to shareholder and regulatory approvals [9]. - Bitfarms aims to achieve multi-year expansion capacity up to 1.6 GW, significantly increasing its operational footprint in the U.S. [6][9].

For crypto investors, blockchain stocks are important assets to consider. These publicly-traded companies provide liquid exposure to broader crypto trends. Accordingly, if Bitcoin (BTC-USD) prices rise (which likely means other digital asset prices are increasing), these companies tend to outperform on a relative basis. And being able to buy and sell shares in these stocks on an exchange can provide the simplicity many investors are looking for. Unfortunately, betting on any one of the following three block ...

-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 ...

Bitfarms Ltd. (NASDAQ:BITF) Q2 2024 Earnings Conference Call August 8, 2024 8:00 AM ET Company Participants Ben Gagnon - Chief Executive Officer Jeff Lucas - Chief Financial Officer. Tracy Krumme - Senior Vice President, Head of IR and Corporate Communications Conference Call Participants Mike Colonnese - H.C. Wainwright Mike Grondahl - Northland Securities Fedor Shabalin - B. Riley Martin Toner - ATB Capital Joe Flynn - Compass Point Research & Trading Thomas Shinske - Cantor Fitzgerald Operator Good mor ...

Bitfarms Ltd. (BITF) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 36.36%. A quarter ago, it was expected that this company would post a loss of $0.03 per share when it actually produced a loss of $0.02, delivering a surprise of 33.33%. Over the last four quarters, the company has surpasse ...

Exhibit 99.1 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2024 AND 2023 (Expressed in thousands of U.S. dollars - unaudited) BITFARMS LTD. TABLE OF CONTENTS | | | Page | | --- | --- | --- | | | Financial Statements (unaudited) | | | | Interim Consolidated Statements of Financial Position | 3 | | | Interim Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss | 4 | | | Interim Consolidated Statements of Changes in Equity | 5 | | | Interi ...

Bitfarms (BITF) is scheduled to release its second-quarter 2024 results on Aug 8, before market open. BITF's earnings surprise history has not been impressive. Earnings lagged the Zacks Consensus Estimate in three of the trailing four quarters and surpassed once, delivering a negative earnings surprise of 47.5%, on average. Q2 Expectations The Zacks Consensus Estimate for the company's revenues is pegged at $44.6 million, indicating a 25.7% increase from the year-ago quarter's actual. Growth in the top line ...

TORONTO, Ontario and BROSSARD, Québec, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin mining data center company, will report its second quarter 2024 financial results on Thursday, August 8th, before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q2 2024 materials will be available before the call and can be accessed on the 'Financial Results' section of the Bitfarms investor site. Participants may join ...

TORONTO, Ontario and BROSSARD, Québec, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin mining data center company, will report its second quarter 2024 financial results on Thursday, August 8th, before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q2 2024 materials will be available before the call and can be accessed on the 'Financial Results' section of the Bitfarms investor site. Participants may join ...

- Earned 253 BTC in July 2024 & Increased HODL to 1,016 BTC - - Increased Operational Hashrate to 11.1 EH/s - 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. 01, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin mining data center company, provides its monthly product ...