NEW YORK, March 20, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Bitfarms Ltd. (NASDAQ: BITF) resulting from allegations that Bitfarms may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Bitfarms securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangemen ...

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Bitfarms due to allegations of materially misleading business information issued by the company [1] Group 1: Investigation and Legal Action - Shareholders who purchased Bitfarms securities may be entitled to compensation through a class action lawsuit without any out-of-pocket fees [2] - The Rosen Law Firm is preparing a class action to seek recovery of investor losses related to Bitfarms [2] Group 2: Financial Restatement - On December 9, 2024, Bitfarms announced a restatement of its consolidated 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 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 price fell by 6% on December 10, 2024 [3] Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time [4] - The firm was ranked No. 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017 and has consistently ranked in the top 4 since 2013 [4] - In 2019, the firm secured over $438 million for investors [4]

Core Insights - Bitfarms Ltd. will report its fourth quarter and full year 2024 financial results on March 27, 2025, before the market opens [1] - A conference call will be hosted by management on the same day at 8:00 am EST, with all Q4 2024 materials available prior to the call [1][2] Company Overview - Bitfarms, founded in 2017, is a global Bitcoin and vertically integrated data center company that sells computational power to mining pools in exchange for Bitcoin [3] - The company develops, owns, and operates vertically integrated mining facilities with in-house management and electrical engineering services [3] Operational Footprint - Bitfarms currently operates 15 Bitcoin data centers across four countries: the United States, Canada, Paraguay, and Argentina [4] - The company emphasizes the use of environmentally friendly hydro-electric power and long-term power contracts, focusing on sustainable energy infrastructure [4]

Core Insights - Bitfarms Ltd. has successfully completed the sale of its 200 MW data center in Yguazu, Paraguay to HIVE Digital Technologies for approximately U.S. $85 million, marking a strategic shift towards North American operations [2][3]. Group 1: Transaction Details - The transaction is valued at approximately U.S. $85 million, which is expected to be accretive for Bitfarms [1][3]. - The sale allows Bitfarms to streamline operations and rebalance its portfolio, with an anticipated year-end 2025 energy portfolio of approximately 80% North American and 20% international [3]. Group 2: Financial Implications - The sale is expected to significantly reduce Bitfarms' capital expenditure (capex) requirements for 2025 and lower average power costs by 10% [3]. - The company plans to reinvest the savings and capital from this sale into its 1.1 GW U.S. growth pipeline for Bitcoin mining and high-performance computing (HPC)/artificial intelligence (AI) infrastructure [3]. Group 3: Company Overview - Bitfarms is a global Bitcoin and vertically integrated data center company, founded in 2017, that operates 15 Bitcoin data centers across the United States, Canada, Paraguay, and Argentina [4][5]. - The company focuses on sustainable energy sources, primarily hydroelectric power, to support its mining operations [5].

Core Viewpoint - Bitfarms Ltd. has successfully completed the acquisition of Stronghold Digital Mining, enhancing its position as a leading Bitcoin miner in the PJM market and expanding its U.S. portfolio [2][3]. Group 1: Acquisition Details - The acquisition was executed as a stock-for-stock merger, with Stronghold shareholders receiving 2.52 shares of Bitfarms for each Stronghold share [4]. - Approximately 59,678,164 Bitfarms common shares and 10,574,848 Bitfarms warrants were issued in connection with the merger, along with a payment of approximately $44.5 million to retire Stronghold's outstanding loans [4][5]. Group 2: Strategic Growth and Positioning - The acquisition allows Bitfarms to rebalance its energy portfolio to 80% North American and 20% international by year-end 2025 [2]. - The combined PJM pipeline spans over 1 GW across three sites in Pennsylvania, strategically positioned for both HPC/AI and Bitcoin mining [3][6]. - Bitfarms' energy portfolio now includes 623 Megawatts Under Management (MWuM), with an additional 165 MW of active generating capacity and 142 MW of immediately available import capacity [6]. Group 3: Future Opportunities - The company aims to develop two power campuses totaling nearly 1 GW for HPC/AI applications, with strategic partners prioritizing Stronghold sites for potential conversion [6]. - Bitfarms adds nearly 1 Exahash Under Management (EHuM) through existing hosting agreements, bringing its total to 18 EHuM [6].

Company Performance - Bitfarms Ltd. (BITF) closed at $1.11, reflecting a +1.83% change from the previous day's close, underperforming the S&P 500 which gained 2.13% [1] - The stock has decreased by 22.14% over the past month, compared to a 12.27% loss in the Business Services sector and a 9.57% loss in the S&P 500 [1] Earnings Forecast - Bitfarms Ltd. is expected to report an EPS of -$0.04, representing a 33.33% improvement from the same quarter last year [2] - Revenue is projected to be $53.82 million, indicating a 16.4% increase year-over-year [2] Analyst Estimates - Recent changes to analyst estimates for Bitfarms Ltd. are important as they reflect near-term business trends, with positive revisions indicating optimism about the company's outlook [3] - The Zacks Consensus EPS estimate has decreased by 116.67% over the last 30 days, and Bitfarms Ltd. currently holds a Zacks Rank of 3 (Hold) [5] Industry Context - The Technology Services industry, part of the Business Services sector, has a Zacks Industry Rank of 67, placing it in the top 27% of over 250 industries [6] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]

Company Overview - Bitfarms Ltd. is a global vertically integrated Bitcoin data center company founded in 2017, which sells its computational power to mining pools in exchange for Bitcoin [4] - The company operates 13 Bitcoin data centers and has hosting agreements with two additional data centers across four countries: Canada, the United States, Paraguay, and Argentina [5] - Bitfarms focuses on sustainable energy, primarily utilizing hydro-electric power and long-term power contracts [5] Upcoming Events - Bitfarms will participate in the Cantor Fitzgerald Global Technology Conference on March 12, 2025, in New York, NY, with CEO Ben Gagnon presenting on a panel titled "Hybrid Model for Bitcoin Mining & AI" [2] - The company will also attend the 37th Annual ROTH Conference on March 17-18, 2025, in Dana Point, CA, with COO Liam Wilson and CFO Jeff Lucas among the participants [2] - Additionally, Bitfarms will be present at the NVIDIA GTC 2025 from March 17-21, 2025, in San Jose, CA, with several executives including COO Liam Wilson and EVP Philippe Fortier attending [3]

Core Insights - Bitfarms Ltd. is on track to close the acquisition of Stronghold Digital Mining and the sale of its Yguazu site by Q1 2025, which will enhance its energy portfolio and position it as a North American energy and compute infrastructure company [3][4][17] - The company reported an operational hashrate of 16.1 EH/s in February 2025, reflecting a 6% month-over-month increase, and an average operational hashrate of 13.4 EH/s, up 20% month-over-month [4][7] - Bitfarms earned a total of 213 BTC in February 2025, a 6% increase from January, and sold 75 BTC for total proceeds of $6.5 million [7][4] Operational Performance - The operational hashrate reached 16.1 EH/s, up 6% from January 2025, while the average operational hashrate increased by 20% to 13.4 EH/s [4][7] - The company achieved new all-time highs in operational hashrate across three out of four countries where it operates [4] - The efficiency of BTC earned per average EH/s was 16, which is an 11% decrease month-over-month [7] Financial Highlights - Bitfarms earned 213 BTC in February 2025, compared to 201 BTC in January, marking a 6% increase [7] - The company sold 75 BTC, generating $6.5 million in revenue, while adding 108 BTC to its treasury, bringing the total to 1,260 BTC valued at approximately $105.8 million based on a BTC price of $84,000 [7][4] - The average daily BTC earned was 7.6, equating to about $638,400 per day at the end of February 2025 [7] Strategic Developments - Craig Hibbard has been appointed as the Senior Vice President of Infrastructure, bringing over 25 years of experience in large-scale real estate development [4] - The strategic sale of the 200 MW Yguazu data center is also on track for a Q1 2025 close, which is expected to improve the company's energy portfolio [3][4] - The acquisition of Stronghold Digital Mining is supported by a recent shareholder vote, indicating strong backing for the transaction [3] Company Overview - Bitfarms operates 13 Bitcoin data centers and has hosting agreements in four countries: Canada, the United States, Paraguay, and Argentina [10] - The company focuses on sustainable energy sources, primarily hydropower, to support its mining operations [10] - Bitfarms is committed to using underutilized energy infrastructure to enhance its operational efficiency [10]

Core Viewpoint - Bitfarms Ltd. (BITF) is anticipated to report a year-over-year increase in earnings driven by higher revenues for the quarter ended December 2024, with actual results being a significant factor influencing its near-term stock price [1][2]. Financial Expectations - The consensus estimate indicates a quarterly loss of $0.04 per share, reflecting a year-over-year improvement of +33.3%. Revenues are projected to reach $53.82 million, representing a 16.4% increase from the same quarter last year [3]. - The consensus EPS estimate has been revised 16.67% higher in the last 30 days, indicating a reassessment by analysts regarding the company's earnings outlook [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate for Bitfarms is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -25%, indicating a bearish sentiment among analysts [10][11]. - Despite the negative Earnings ESP, the stock holds a Zacks Rank of 3, complicating predictions of an earnings beat [11]. Historical Performance - In the previous quarter, Bitfarms was expected to report a loss of $0.12 per share but achieved a loss of $0.09, resulting in a positive surprise of +25%. Over the last four quarters, the company has exceeded consensus EPS estimates three times [12][13]. Conclusion - While Bitfarms does not appear to be a strong candidate for an earnings beat, investors are advised to consider other factors when making decisions regarding the stock ahead of its earnings release [16].

Company Performance - Bitfarms Ltd. (BITF) closed at $1.42, reflecting a +1.43% change from the previous day, outperforming the S&P 500 which saw a loss of 0.01% [1] - The stock has decreased by 14.63% over the past month, underperforming the Business Services sector's gain of 15.7% and the S&P 500's gain of 4.88% [1] Financial Forecast - Bitfarms Ltd. is expected to report an EPS of -$0.04, indicating a 33.33% improvement from the same quarter last year [2] - The consensus estimate for quarterly revenue is $55.02 million, representing an 18.98% increase from the previous year [2] Analyst Estimates - Recent changes in analyst estimates for Bitfarms Ltd. indicate a positive outlook, suggesting analyst optimism regarding the company's business and profitability [3] - The Zacks Consensus EPS estimate has decreased by 8.33% over the last 30 days, and Bitfarms Ltd. currently holds a Zacks Rank of 3 (Hold) [5] Industry Context - The Technology Services industry, part of the Business Services sector, has a Zacks Industry Rank of 72, placing it in the top 29% of over 250 industries [6] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]