Robbins LLP Reminds Bitfarms, Ltd. Stockholders of the Class Action Against BITF – Contact Us for Information

Core Viewpoint - A class action lawsuit has been filed against Bitfarms Ltd. for alleged deficiencies in internal controls over financial reporting, leading to misstatements in financial statements and a need for restatement [1][2]. Group 1: Allegations and Financial Misstatements - The complaint alleges that Bitfarms failed to disclose deficient internal controls over financial reporting, resulting in the incorrect categorization of proceeds from digital asset sales [2]. - Bitfarms misclassified cash flows from the sale of digital assets as operating activities instead of investing activities, leading to inaccuracies in financial statements [2]. - The company also overstated its ability to remediate material weaknesses in its internal controls, particularly regarding the classification of 2021 Warrants [2]. - On December 9, 2024, Bitfarms announced that its consolidated financial statements for fiscal years 2022 and 2023 contained material errors and would need to be restated [3]. - Following the announcement, Bitfarms' stock price fell by $0.13 per share, or 6.07$2.01 per share on December 10, 2024 [3]. Group 2: Class Action Participation - Shareholders who wish to serve as lead plaintiffs in the class action must file their papers with the court by July 8, 2025 [4]. - Participation in the case is not required to be eligible for recovery; shareholders can remain absent class members if they choose [4]. Group 3: Company Background - Robbins LLP is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses and improve corporate governance since 2002 [5].