Articles from Bitfarms Ltd.

-Engages expert consultants ASG & World Wide Technology-

-Bitfarms to reinvest capital in US growth opportunities-

TORONTO, Ontario and BROSSARD, Québec, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF) (“Bitfarms”), a global vertically integrated Bitcoin data center company, will be attending Needham’s 27th Annual Growth Conference, taking place from January 14-15th in New York City. Bitfarms CEO Ben Gagnon, CFO Jeff Lucas, and SVP IR & Corp. Comms. Tracy Krumme will be conducting investor meetings with a presentation at the following time:

- Increased hashrate 97% Y/Y to 12.8 EH/s - - Improved efficiency 40% Y/Y to 21 w/TH -- Earned 2,914 BTC for full-year 2024 -- Expanded operational MW 35% Y/Y to 324MW -- Acquisition of Stronghold Digital Mining on track to close in Q1 2025 -

-US$87 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.

Achieved 12.8 EH/s & earned 204 BTC in November 2024

- Bitfarms Board of Directors Increased to Six Members, Five of whom are Independent –-Andrew J. Chang Appointed as Independent Director--Shareholder Rights Plan Approved-

- Revenue of $45 million, up 8% Q/Q and up 30% Y/Y - - Gross mining margin of 38%, compared to 51% in Q2 2024 and 44% in Q3 2023 - - Current hashrate of 11.9 EH/s, up from 10.4 EH/s in Q2 2024 - - Current efficiency of 21 w/TH, a 16% improvement from June 30, 2024 - - Synthetic HODL increased to 802 at October 31, 2024 from 208 long-dated BTC call options at June 30, 2024, up 286% -

TORONTO, Ontario and BROSSARD, Québec, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin data center company, announced today that it will be rescheduling its third quarter 2024 financial results conference call. The Company will report its third quarter 2024 financial results on Wednesday, November 13th, before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q3 2024 materials will be available before the call and can be accessed on the ‘Financial Results’ section of the Bitfarms investor site.

Earned 236 BTC in October 2024 & Increased Bitcoin Treasury to 1,188 BTC

- Follows initial 10,000 miner hosting agreement announced in September –

- Company to Hold Virtual Special Meeting of Shareholders on November 20, 2024 -

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, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin data center company, will report its third quarter 2024 financial results on Tuesday, November 12th, before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q3 2024 materials will be available before the call and can be accessed on the ‘Financial Results’ section of the Bitfarms investor site.

-This is a required amendment based on the proposed Stronghold Digital Mining acquisition-

- Earned 217 BTC in September 2024 & Increased HODL to 1,147 BTC -- Reached End-of-Year Efficiency Target of 21 w/TH Ahead of Schedule -- Signed Hosting Agreement with Stronghold Digital Mining -- Announced Settlement Agreement with Riot Platforms & Rescheduled Special Meeting of Bitfarms Shareholders to November 20, 2024 -

- Agreement to support 2.2 EH/s with energization expected in October, two months ahead of schedule -

-Appoints Alex Brammer to Senior Vice President of Global Mining Operations-

- Provides Update on Engagement with Riot -- Special Meeting to be Held In-Person -  

TORONTO, Ontario and BROSSARD, Québec, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF) (“Bitfarms”), a global vertically integrated Bitcoin data center company, will be attending H.C. Wainwright’s 26th Annual Global Investment Conference, taking place from September 9-11 in New York City. Bitfarms Chief Executive Officer, Ben Gagnon, will be participating in a Bitcoin Mining Panel along with several Bitcoin mining peers. In addition, Mr. Gagnon and Jeff Lucas, Bitfarms Chief Financial Officer, will be giving a Company Presentation.

- Reiterates Commitment to Value Creation -

- Bitfarms to Acquire Stronghold Digital Mining, Increasing 2025 Energy Portfolio by 47% -- Earned 233 BTC in August 2024 & Increased HODL to 1,103 BTC -- Increased Operational Hashrate to 11.3 EH/s - - Announces Assumption of Control of Sharon, PA Site -

- First U.S. large scale site; Increases U.S. footprint ~7x from 20 MW to 140 MW -

- Expands and Rebalances Bitfarms Energy Portfolio to Approximately 50% in the U.S. by YE 2025, Consistent with Strategic Plan -

-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-

- Revenue of $42 million, down 16% Q/Q and up 17% Y/Y - - Gross mining margin of 51%, compared to 64% in Q1 2024 and 48% in Q2 2023 - - Current hashrate of 11.1 EH/s, up from 6.5 EH/s in Q1 2024 -- Current efficiency of 25 w/TH, a 26% improvement from Q1 2024 -- On track to achieve guidance of 21 EH/s and 21 w/TH in 2024 -- Increased MW capacity by 220 MW, bringing total to 648 and supporting over 35 EH/s in 2025 - - Special Committee concludes strategic alternatives review process -

TORONTO, Ontario and BROSSARD, Québec, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin mining data center company, will report its second quarter 2024 financial results on Thursday, August 8th, before the market opens. Management will host a conference call on the same day at 8:00 am EST. All Q2 2024 materials will be available before the call and can be accessed on the ‘Financial Results’ section of the Bitfarms investor site.

- Earned 253 BTC in July 2024 & Increased HODL to 1,016 BTC -- Increased Operational Hashrate to 11.1 EH/s -

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.

- Announces Adoption of New Shareholder Rights Plan -- Reiterates Commitment to Maximize Value for All Shareholders -

- CEO Ben Gagnon to present alongside Bitfarms CFO, Jeff Lucas -

No Shareholder Action Required at this Time

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.

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

Reiterates Commitment to Strategic Alternative Review Process to Maximize Shareholder Value

-First U.S. large scale site supports 8 EH/s in 2025 with deployment of 600 PH/s in 2024--Strategically located in PJM Interconnection market, providing access to low-cost, flexible power--Increases 2025 power capacity to 648 MW, up 170% from current 240 MW--Company establishes 2025 guidance of over 35 EH/s-

-Bitfarms Board of Directors Remains Committed to Maximizing Value for All Shareholders-

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.

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.

- Earned 156 BTC in May 2024 -- Secured additional hydropower in Paraguay with potential to add 6 EH/s in 2025 -- Increased installed hashrate to 9.5 EH/s with 7.5 EH/s operational -- Improved corporate energy efficiency to 27 w/TH, up 31% Y/Y & 13% M/M -- On track to deliver 21 EH/s and 21 w/TH in 2024 -  

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.

Company Committed to Maximizing Value for All Shareholders; Strategic Alternatives Process Underway

- Revenue of $50 million, up 9% Q/Q and 67% Y/Y -- Gross mining margin of 59%, up from 52% in Q4 2023 & 41% in Q1 2023 -- Secured additional 24,000 miners in March, increasing total delivery to 88,000 in 2024 -- Current hashrate of 7.0 EH/s, up from 6.5 EH/s at year end -- On track to achieve guidance of 21 EH/s and 21 w/TH in 2024 -

Long-term, low-cost power contracts at a competitive rate expected to provide significant path for growth

TORONTO and BROSSARD, Québec, May 13, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin mining company, announces that it will report first quarter results on Wednesday, May 15, 2024, before the market opens. As a result, the conference call has been rescheduled for the same day at 8:00 am ET. A presentation of the Q1 2024 results will be accessible before the call on the Investor website and can be accessed here.

 - Geoffrey Morphy terminated as CEO and Nicolas Bonta appointed on interim basis -- CEO Executive search nearing completion -

- Earns 269 BTC in April 2024 -- Improves corporate energy efficiency 9% to 31 w/TH -- Tracking to 21 EH/s and 21 w/TH in 2024 with transformative fleet upgrade -- Expects VAT refund from Canada of US $23.7M - 

TORONTO and BROSSARD, Québec, April 26, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin mining company, will report its first quarter 2024 financial results on Monday May13, 2024, before the market opens. Management will host a conference call on the same day at 8:00 am EST. A presentation of the Q1 2024 results will be accessible before the call on the Investor website and can be accessed here.

TORONTO, Ontario and BROSSARD, Québec , April 17, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF/TSX: BITF), a global vertically integrated company, today announced that various members of management will be participating in the upcoming investor and industry conferences:

Corporate energy efficiency improves 9% to 31 w/TH

- Company earns 286 BTC in March 2024 -

- Geoff Morphy remains CEO while an executive search is conducted -

- Fully exercises 28,000 Bitmain T21 miner purchase option –- Purchases additional 19,280 Bitmain T21 miners –- Purchases 3,888 Bitmain S21 miners –- Purchases 740 Bitmain S21 Hydro miners –

TORONTO, Ontario and BROSSARD, Québec, March 08, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF), a global Bitcoin vertically integrated company, announced that it has entered into an at-the-market offering agreement (the “ATM Agreement”) dated March 8, 2024 with H.C. Wainwright & Co., LLC (the “Agent”) as agent, pursuant to which the Company established an at-the-market equity program (the “ATM Program”). Pursuant to the ATM Program, the Company may, at its discretion and from time-to-time during the term of the ATM Agreement, sell, through the Agent, such number of common shares of the Company (“Common Shares”) as would result in aggregate gross proceeds to the Company of up to US$375 million. Sales of Common Shares, if any, through the Agent will be made through “at-the-market” issuances, including without limitation, sales made directly on the Nasdaq Stock Market or another trading market for the shares in the United States at the market price prevailing at the time of each sale. No Common Shares will be offered or sold under the ATM Program on the TSX or any other trading market in Canada. The ATM Program may be terminated by either party at any time.

- Earned 1,236 BTC in Q4 2023 and 4,928 BTC in 2023 -- Improved Q4 2023 gross mining margin to 52%, up from 38% in Q3 2023 -- Achieved debt-free goal in February 2024, enhancing financial flexibility -- Executing towards targets of 12 EH/s and 25 w/TH by end of Q2 2024 and 21 EH/s by end of 2024 -

- 12 Bitmain T21 miners installed and testing above specifications -

TORONTO and BROSSARD, Québec, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin mining company, will report its fourth quarter and full year 2023 financial results on Thursday, March 7, 2024 before the market opens. Management will host a conference call on the same day at 8:00am EST. A presentation of the Q4 2023 results will be accessible before the call on the Investor website and can be accessed here.

- On track to begin production at Paso Pe, Paraguay and to initiate fleet upgrades and expansion in Q1 2024 -

TORONTO, Ontario and BROSSARD, Québec, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF // TSX: BITF), a global Bitcoin self-mining company, announced today that Bitfarms’ management and directors, led by President & CEO Geoff Morphy and co-founders Nicolas Bonta and Emiliano Grodzki, will ring the closing bell at Nasdaq MarketSite in New York’s Time Square on Tuesday, January 30th, 2024 at 4:00 pm ET.

TORONTO, Ontario and BROSSARD, Québec, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF), a global vertically integrated Bitcoin mining company, announces that it has completed the purchase of land for its new 100 MW production facility in Yguazu, Paraguay.

TORONTO, Ontario and BROSSARD, Québec, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF), a global vertically integrated Bitcoin mining company, today announced that it has appointed Tracy Krumme as Senior Vice President, Head of Investor Relations.

Presentation: Wednesday, January 17, 2024 / 4:30 PM ET

- Increases hashrate 44% YOY to 6.5 EH/s at Dec. 31, 2023, exceeding guidance -- Expands total contracted capacity to 593 MW at Dec. 31, 2023 -- On track to achieve 12 EH/s and 25 w/TH fleet efficiency in Q2 2024 -- Optionality to achieve 17 EH/s and 23 w/TH fleet efficiency in 2024 -

- Miners purchased for H1 2024 upgrade plan to 12 MW -- Increases hashrate 2% in the month to 6.4 EH/s –- Finalizing contract to increase Paso Pe, Paraguay from 50 MW to 70 MW -

TORONTO, Ontario and BROSSARD, Québec, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF), a global vertically integrated Bitcoin mining company, is pleased to announce that it has closed its previously announced private placement of equity securities (the “Offering”). The Offering was for gross proceeds of approximately C$60 million and consisted of the sale of 44,444,446 common shares, along with warrants to purchase an aggregate of up to 22,222,223 common shares, at a purchase price of C$1.35 per common share and associated one-half warrant. The warrants have an exercise price of C$1.61 (US$1.17) per common share and exercise period of three years (through November 28, 2026). The funds were raised via a fully subscribed private placement of equity securities among U.S. institutional investors.

- Purchases 35,888 Bitmain T21 miners to be delivered and installed in H1 2024 -- Provides Q2 2024 guidance of 310 MW and 12 EH/s at 25 w/TH -- Secures option for an additional 28,000 T21 miners to achieve 17 EH/s in H2 2024 -- Schedules special conference call for November 28, 2023 at 8:30 am ET -

TORONTO, Ontario and BROSSARD, Québec, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF), a global vertically integrated Bitcoin mining company, announces it has entered into subscription agreements with certain institutional investors for gross proceeds of approximately C$60 million in a private placement in the United States, comprised of 44,444,446 common shares at C$1.35 per common share along with warrants to purchase an aggregate of up to 22,222,223 common shares. The warrants have an exercise price of C$1.61 (US$1.17) per common share and exercise period of three years. The net proceeds of the private placement will be used by the Company mainly to acquire additional miners, expand infrastructure, and improve its working capital position.

54 MW at Rio Cuarto drawing power at this fixed summer rate from November 2023 through April 2024

- Earns 1,172 BTC and grows treasury by 154 BTC to 703 BTC in Q3 2023 -- Increases hashrate to 6.1 EH/s at September 30, 2023 and 6.3 EH/s at October 31, 2023 -- Developing operating capacity to 290 MW in Q1 2024, up 24% from Q3 2023 -

- Reached 54 MW at Rio Cuarto facility and 240 MW total operating capacity -- Increases hashrate 3% to 6.3 EH/s -

TORONTO and BROSSARD, Québec, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF // TSX: BITF), a global vertically integrated Bitcoin mining company, will report its fiscal third quarter 2023 financial results on Tuesday, November 7, 2023, before the market opens.

TORONTO, Ontario and BROSSARD, Québec, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF), a global vertically integrated Bitcoin mining company, fully energized the first phase of its farm in Baie-Comeau, Québec, increasing its total operating capacity to 240 MW and its hashrate to 6.3 EH/s.

TORONTO, Ontario and BROSSARD, Québec, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF), a global vertically integrated Bitcoin mining company, announced that management will be participating in the Dawson James Small Cap Growth Conference held on October 12 in Jupiter, FL.

- Fully energizes Rio Cuarto at 51 MW, expanding total operating capacity to 233 MW -- Increases hashrate 9% to 6.1 EH/s -- Improves energy efficiency to 36 w/TH with new 28 w/TH miners -