-This is a required amendment based on the proposed Stronghold Digital Mining acquisition- -US$127 million remains on the ATM- 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, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF) ("Bitfarms", or the "Company") a global Bitcoin vertical ...

Bitfarms Ltd. (BITF) closed the most recent trading day at $2, moving -1.48% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.36%. Coming into today, shares of the company had lost 10.18% in the past month. In that same time, the Business Services sector gained 6.7%, while the S&P 500 gained 2.06%. The upcoming earnings release of Bitfarms Ltd. will be of great int ...

Core Viewpoint - Bitfarms has entered into a miner hosting agreement with Stronghold Digital Mining, which is expected to enhance its operational efficiency and control over power costs, with an immediate addition of 2.2 EH/s capacity in October 2024, ahead of schedule [1][2][3]. Company Overview - Bitfarms is a vertically integrated Bitcoin data center company founded in 2017, operating 12 data centers across Canada, the United States, Paraguay, and Argentina, focusing on sustainable energy sources [4][5]. - The company aims to optimize its assets and diversify beyond Bitcoin mining to enhance long-term shareholder value [3]. Hosting Agreement Details - The Hosting Agreement will commence on October 1, 2024, and has an initial term until December 31, 2025, with automatic renewals unless either party opts out [3]. - Bitfarms will deploy 10,000 Bitmain T21 miners to Stronghold's Panther Creek site, with a monthly fee structure based on profits generated by the miners [2][3]. - An upfront deposit of $7.8 million has been made by Bitfarms to cover estimated power costs for the first three months of operations [3]. Future Growth and Strategy - The agreement is seen as a pathway for Bitfarms to leverage Stronghold's power generation infrastructure, which offers potential for multi-year expansion and access to energy trading opportunities [3]. - The company has reiterated its guidance for a hashrate of 21 EH/s in 2024 and 35+ EH/s in 2025, indicating a strong growth trajectory [1].

The latest trading session saw Bitfarms Ltd. (BITF) ending at $1.99, denoting a -1% adjustment from its last day's close. This change lagged the S&P 500's 1.07% gain on the day. Meanwhile, the Dow experienced a rise of 0.31%, and the technology-dominated Nasdaq saw an increase of 2.17%. Shares of the company have depreciated by 11.84% over the course of the past month, underperforming the Business Services sector's gain of 5.24% and the S&P 500's gain of 2.92%. Market participants will be closely following ...

- Provides Update on Engagement with Riot - - Special Meeting to be Held In-Person - 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. 09, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF) ("Bitfarms" or the "Company"), a global leader in vertically integrated Bitcoin data center operations, today announced ...

- Reiterates Commitment to Value Creation - 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. 04, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global leader in vertically integrated Bitcoin data center operations, today issued the following statement in response to the amended requisition proposal an ...

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 ...