Core Viewpoint - A class action lawsuit has been filed against Bitfarms Ltd. and certain officers for alleged violations of federal securities laws during the Class Period from March 21, 2023, to December 9, 2024, seeking damages for misleading statements regarding the company's financial reporting and internal controls [1][7][8]. Company Overview - Bitfarms operates integrated Bitcoin data centers in Canada, the U.S., Paraguay, and Argentina, focusing on validating transactions on the Bitcoin Blockchain through mining [4]. - The company sells mined Bitcoin as digital assets or exchanges them for U.S. dollars, with a financing strategy that includes strategically selling its BTC assets [4]. Financial Reporting Issues - In March 2024, Bitfarms identified a material weakness in its internal control over financial reporting related to the classification of 2021 Warrants, which should have been classified as financial liabilities rather than equity instruments [7]. - The company acknowledged deficiencies in internal controls, leading to misstatements in financial statements and incorrect categorization of proceeds from digital asset sales [7][8]. Recent Developments - On December 9, 2024, Bitfarms announced that its consolidated financial statements for 2022 and 2023 contained a material error regarding the classification of proceeds from digital asset sales, necessitating restatement [9]. - Following this announcement, Bitfarms' stock price fell by $0.13 per share, or 6.07%, closing at $2.01 per share on December 10, 2024 [9]. - In April 2025, Bitfarms filed its Annual Report, indicating that the remediation plan for the identified material weakness would be completed in 2025, contrary to previous statements that it would be completed in 2024 [10].

TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global energy and compute infrastructure company, will report its first quarter 2025 financial results on Wednesday, May 14th before the market opens. Management will host a conference call on the same day at 8:00 am ET. All Q1 2025 materials will be available before the call and can be accessed on the 'Financial Results' section of the Bitfarms investor site. Tracy Krumme SVP, Head of IR & Corp. Comms. +1 786-671-5638 tkrumme@bit ...

Core Viewpoint - Pomerantz LLP is investigating claims on behalf of investors of Bitfarms Ltd. regarding potential securities fraud or unlawful business practices by the company and its officers or directors [1]. Group 1: Financial Misstatements - On December 9, 2024, Bitfarms announced that its consolidated financial statements for the fiscal years 2022 and 2023 contained a material error related to the classification of proceeds from digital asset sales, necessitating a restatement [3]. - The company also identified an accounting error concerning the redemption of warrants in 2023, which prompted further adjustments [3]. Group 2: Market Reaction - Following the announcement of the financial misstatements, Bitfarms' stock price fell by $0.13 per share, or 6.07%, closing at $2.01 per share on December 10, 2024 [4]. Group 3: Legal Context - Pomerantz LLP is recognized as a leading firm in corporate, securities, and antitrust class litigation, with a history of fighting for the rights of victims of securities fraud and corporate misconduct [5].

Company Performance - Bitfarms Ltd. (BITF) ended the latest trading session at $1.02, reflecting a -0.97% change from the previous close, which lagged behind the S&P 500's daily gain of 1.47% [1] - Over the past month, shares of Bitfarms have increased by 25.44%, outperforming the Business Services sector's loss of 1.38% and the S&P 500's loss of 0.47% [1] Upcoming Financial Results - The upcoming financial results for Bitfarms are anticipated to show an EPS of -$0.04, indicating a 100% decline compared to the same quarter last year [2] - The Zacks Consensus Estimate projects net sales of $68.39 million, which represents a 35.91% increase from the year-ago period [2] Full Year Estimates - For the full year, analysts expect earnings of -$0.14 per share and revenue of $338.38 million, reflecting changes of 0% and +75.43% respectively from the previous year [3] Analyst Estimates and Outlook - Recent changes to analyst estimates for Bitfarms indicate evolving short-term business trends, with positive revisions seen as a favorable sign for the company's outlook [4] - The Zacks Rank system, which integrates estimate changes, currently assigns Bitfarms a rank of 3 (Hold) [6] Industry Context - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 82, placing it in the top 34% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

- New private debt facility with a division of Macquarie Group for up to $300 million to fund initial HPC project development at Panther Creek, validating the attractiveness of Bitfarms’ potential HPC data center development pipeline- --Operational hashrate of 19.5 EHuM and fleet efficiency of 19 w/TH– This news release constitutes a “designated news release” for the purposes of the Company’s second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus d ...

Bitfarms Ltd. (BITF) ended the recent trading session at $1.03, demonstrating a +0.98% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.05%, while the tech-heavy Nasdaq added 1.26%.Shares of the company witnessed a gain of 7.02% over the previous month, beating the performance of the Business Services sector with its loss of 4.61% and the S&P 500's loss of 4.77%.The investment community will be closely monitorin ...

NEW YORK, April 25, 2025 (GLOBE NEWSWIRE) -- 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 newaction@pomlaw.com 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, ...

Initial draw at close of $50 million, with up to a total of $300 million available upon entry into definitive project loan documentationEarly-stage investment from a division of Macquarie Group, one of the world's largest infrastructure investors, further validates the attractiveness of Bitfarms' potential HPC data center development pipeline, especially its near-term project at Panther CreekA $300 million facility is expected to provide the necessary capital for Bitfarms to fund the initial portion of the ...

- Operational hashrate of 19.5 EHuM and fleet efficiency of 19 w/TH– -Completes acquisition of Stronghold Digital Mining & sale of Yguazu, Paraguay data center- -Appoints two new key HPC/AI and Infrastructure Executives- This news release constitutes a "designated news release" for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, April 01, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. ( ...

NEW YORK, March 31, 2025 /PRNewswire/ -- Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivati ...