Sector: Technology | Industry: Blockchain & Cryptocurrency |
Company Contact | |
Address: | 110 Yonge Street, Suite 1601 TORONTO ON M5C 1T4 |
Tel: | N/A |
Website: | https://bitfarms.com |
IR: | See website |
Key People | ||
Nicolas Bonta Chairman of the Board, Interim President, Co-Founder | Philippe Fortier Vice President - Special Projects, Corporate Development | Benjamin Gagnon Chief Executive Officer |
Emiliano Joel Grodzki Founder, Director | Jeffrey Lucas Chief Financial Officer | Benoit Gobeil Senior Vice President - Operations and Infrastructure |
Marc-Andre Ammann Vice President - Finance and Accounting | Stephanie Wargo Vice President - Marketing and Communications | Andrea Keen Souza Vice President - Human Resources | Patricia Osorio Vice President, Corporate Secretary |
Business Overview |
Bitfarms Ltd. is a Canada-based global vertically integrated bitcoin mining company. The Company develops, owns, and operates vertically integrated mining farms with in-house management and Company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company's proprietary data analytics system delivers operational performance and uptime. The Company operates through the cryptocurrency mining segment. The Company operates server farms comprised of computers (Miners) designed for the purpose of validating transactions on the Bitcoin (BTC) Blockchain (Mining). The Company also operates Miners about 24 hours a day producing computational power (measured by hashrate) which it sells to Mining Pools under a formula-driven rate commonly known as Full Pay Per Share (FPPS). The Company has 11 farms, which are located in four countries: Canada, the United States, Paraguay, and Argentina. |
Financial Overview |
For the six months ended 30 June 2024, Bitfarms Ltd revenues increased 40% to $91.9M. Net loss increased 7% to $32.6M. Revenues reflect Cryptocurrency mining segment increase from $35.5M to $91.9M, Argentina segment increase from $4.1M to $19.6M, Canada segment increase of 21% to $60.3M, Paraguay segment increase of 17% to $3.9M. Higher net loss reflects Cryptocurrency mining segment loss increase from $15.2M to $47.5M. |
Employees: | 170 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $911.14M as of Sep 30, 2024 |
Annual revenue (TTM): | $263.33M as of Sep 30, 2024 |
EBITDA (TTM): | $60.20M as of Sep 30, 2024 |
Net annual income (TTM): | -$182.22M as of Sep 30, 2024 |
Free cash flow (TTM): | -$376.68M as of Sep 30, 2024 |
Net Debt Last Fiscal Year: | N/A |
Shares outstanding: | 452,935,321 as of Dec 11, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |