Bitfarms (NASDAQ: BITF ) just came out with its Q4 2024 earnings. It's one of my more-covered stocks, with plenty of ups and downs in 2024.I analyze securities based on value investing, an owner's mindset, and a long-term horizon. I don't write sell articles as those are considered short theses, and I never recommend shorting.Former advisory representative at Fidelity. I do my own investing now and share my research here.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any ...

In the time since my last Bitfarms ( BITF ) article for Seeking Alpha in October, the stock has fallen by nearly 50% in just five months and drastically under-performed similarly sized peers in the sector:Analyst’s Disclosure: I/we have a beneficial long position in the shares of BTC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relati ...

Financial Data and Key Metrics Changes - In Q4 2024, the company earned 654 Bitcoin, generating total revenue of $56 million, which is a 21% increase compared to Q3 2024 [58] - Direct mining profit was $26 million, representing a direct mining margin of 47%, with an average of $39,000 per Bitcoin mined [59] - The company reported net income of $15 million or $0.03 per share, compared to a net loss of $37 million or $0.08 per share in the previous quarter [60] Business Line Data and Key Metrics Changes - The Bitcoin compute portfolio has nearly tripled its hashrate to 18.6 Exahash under management and improved efficiency by 45%, reaching 19 watts per terahash [8][9] - The energy portfolio increased energy capacity by over 90% to 461 energized megawatts per day, with a reduced expected average price of power to $0.043 per kilowatt hour [10] Market Data and Key Metrics Changes - The U.S. now represents 33% of the energized megawatts in the company's portfolio, expected to increase to nearly 80% in the coming years [11] - The company has secured a growth pipeline of energy assets that could scale its Pennsylvania infrastructure portfolio to over a gigawatt in the coming years [16] Company Strategy and Development Direction - The company has transformed from an international Bitcoin miner to a North American energy and compute company, focusing on growth opportunities in the U.S. and high-performance computing (HPC) [7] - The strategic rationale for acquiring Stronghold and selling Yguazu is to rebalance the portfolio towards the U.S., reduce average power costs, and minimize capital expenditures [20] Management's Comments on Operating Environment and Future Outlook - Management remains bullish on Bitcoin mining economics for 2025, expecting significant shareholder value creation from the existing fleet and footprint [71] - The company anticipates a correction in mining economics in 2026 but believes it will return to healthy levels, providing a strong foundation for future growth [71] Other Important Information - The company has no plans for large miner purchases in 2025 or 2026, focusing instead on developing U.S. energy and HPC infrastructure [49][57] - The strategic sale of the Yguazu facility reduced planned capital expenditures for 2025 to less than $100 million, 20% lower than originally planned [18] Q&A Session Summary Question: Update on Stronghold sites and regulatory approvals - Management indicated that existing generating capacity at Stronghold does not require further regulatory approval, but additional megawatts under study may take 12 to 36 months for approvals [76][78] Question: CapEx allocation for 2025 - Approximately $95 million is expected for capital expenditures, with only $7 million allocated for miners, while the majority will go towards infrastructure development [81][82] Question: Timeline for HPC/AI customer due diligence - Due diligence timelines for hyperscalers are typically 6 to 12 months, with opportunities for powered land construction starting in advance of deals [88][90] Question: Target for 21 Exahash and future miner purchases - The company is currently at 18.6 Exahash and expects to reach 21 Exahash with ongoing upgrades, but has no plans for large miner purchases [93][96] Question: Clarification on available megawatts at Pennsylvania sites - There are currently 142 megawatts of active data center capacity available, with plans to expand beyond that depending on infrastructure investments and regulatory approvals [102][104]

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Bitfarms Ltd. (BITF) .Bitfarms currently has an average brokerage recommen ...

Bitfarms Ltd. (BITF) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of a loss of $0.04 per share. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 175%. A quarter ago, it was expected that this company would post a loss of $0.12 per share when it actually produced a loss of $0.09, delivering a surprise of 25%.Over the last four quarters, the company has s ...

Q4 & FY 2024 Earnings Presentation March 27, 2025 Safe Harbor Statement Certain information in this presentation, including market and industry data, was obtained by Bitfarms Ltd. ("Bitfarms" or the "Company") from publicly available and other third-party sources, as well as Bitfarms' good faith estimates. While the Company believes the information was prepared by reputable sources, the Company did not independently verify the information or the underlying assumptions. No representation or warranty is made ...

- 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- "While we remain confident in the significant upside potential of our BTC mining operations and continue to maximize the value of our assets, our revenue diversificat ...

Core Insights - Bitfarms Ltd. has appointed James Bond as Senior Vice President of High-Performance Computing (HPC) to lead its HPC/AI strategy [1][5] - Mr. Bond has over 20 years of experience in HPC/AI and previously led a $2 billion HPC/AI infrastructure platform at Hewlett Packard Enterprise (HPE) [2][5] - The company aims to leverage its 1.1GW secured power pipeline in Pennsylvania to develop a scalable HPC/AI business [5] Company Overview - Bitfarms is a global Bitcoin and vertically integrated data center company founded in 2017, operating 15 Bitcoin data centers across the U.S., Canada, Paraguay, and Argentina [6][7] - The company focuses on sustainable energy sources, primarily hydro-electric power, to operate its mining facilities [7] Leadership Background - James Bond has a strong background in public sector solution architecture and IT infrastructure, having previously worked at HPE and Apptix [2][3] - He has been involved in product development, engineering, and marketing, and is recognized as a thought leader in the HPC/AI space [4] Strategic Goals - The appointment of Mr. Bond is seen as critical for Bitfarms to enhance its HPC/AI capabilities and drive growth [5] - The company plans to utilize its existing data centers and power capacity to create a high-performance computing infrastructure for AI solutions [5]

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Bitfarms due to allegations of materially misleading business information being issued to the investing public [1] Group 1: Legal Action and Compensation - Shareholders who purchased Bitfarms securities may be entitled to compensation through a class action lawsuit without any out-of-pocket fees or costs [2] - The Rosen Law Firm is preparing a class action to seek recovery of investor losses [2] Group 2: Financial Restatement - On December 9, 2024, Bitfarms announced a restatement of its previously issued financial statements for the fiscal years ended December 31, 2023, and 2022 due to a material error in the classification of proceeds from the sale of digital assets [3] - The company also stated that it would restate its financials to correct an error in the accounting for the redemption of warrants in 2023 [3] - Following this announcement, Bitfarms' stock experienced a 6% decline on December 10, 2024 [3] Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4] - The firm has achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time and has been ranked highly for its success in securities class action settlements [4] - In 2019, the firm secured over $438 million for investors, showcasing its capability in recovering investor losses [4]

NEW YORK, March 25, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Bitfarms Ltd. ("Bitfarms" or the "Company") (NASDAQ: BITF). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.The investigation concerns whether Bitfarms and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On December 9, 2024, Bitf ...