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Last update at 2026-03-10T20:29:00Z
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S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index and S&P/TSX 60 Index
Fri 05 Dec 25, 10:15 PMGross Mining Margin Under Stress as Bitfarms Transitions to HPC/AI
Thu 20 Nov 25, 03:06 PMWhy Bitfarms Stock Absolutely Tanked This Week, Sinking Nearly 30%
Fri 14 Nov 25, 08:12 PMBitfarms Stock Soars 143% in 6 Months: What Should Investors Do?
Fri 14 Nov 25, 01:24 PMBitfarms Stock Plunges as Company Shifts from BTC Mining to AI
Fri 14 Nov 25, 07:43 AMBitfarms Will 'Wind Down' Bitcoin Mining and Pivot to AI After $46 Million Loss
Fri 14 Nov 25, 02:13 AMBitcoin Miners Lead Crypto Stock Losses Amid Wider Market Dip—With BTC Falling
Thu 13 Nov 25, 08:15 PMWhy Bitfarms Plunged More than 12% Following Earnings
Thu 13 Nov 25, 06:32 PMLooking at the Narrative for Bitfarms as Analyst Targets and Growth Prospects Shift
Wed 05 Nov 25, 08:15 AMBitfarms Ltd. (BITF) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Tue 04 Nov 25, 11:15 PM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | -256.46200M | 42.64M | -16.11700M | -0.48400M | -18.17700M |
| Minority interest | - | - | 0.00000M | 0.79M | 5.21M |
| Net income | -239.05000M | 22.13M | -16.28900M | 2.11M | -9.36300M |
| Selling general administrative | 51.51M | 43.24M | 3.35M | 4.18M | 8.54M |
| Selling and marketing expenses | 0.33M | 0.17M | 0.04M | 0.11M | 0.27M |
| Gross profit | -140.29200M | 110.83M | -1.90300M | 5.44M | 10.88M |
| Reconciled depreciation | 72.42M | 24.48M | 11.49M | 6.84M | 12.55M |
| Ebit | -284.02200M | 37.35M | -9.30600M | 2.56M | 2.06M |
| Ebitda | -95.24200M | 61.82M | 2.18M | 9.41M | 14.61M |
| Depreciation and amortization | 188.78M | 24.48M | 11.49M | 6.84M | 12.55M |
| Non operating income net other | - | - | - | - | - |
| Operating income | -284.02200M | 37.35M | -9.30600M | 2.56M | -17.99800M |
| Other operating expenses | 181.25M | 106.47M | 40.08M | 31.28M | 31.74M |
| Interest expense | 14.22M | 3.42M | 6.10M | 3.27M | 0.18M |
| Tax provision | -17.41200M | 20.51M | 0.17M | -2.59100M | 0.06M |
| Interest income | - | - | - | - | - |
| Net interest income | 27.56M | -23.86400M | -10.12100M | -1.84900M | -0.17900M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | -17.41200M | 20.51M | 0.17M | -2.59100M | 0.06M |
| Total revenue | -8.38200M | 169.20M | 34.79M | 32.42M | 33.80M |
| Total operating expenses | 49.34M | 48.10M | 3.39M | 4.29M | 8.81M |
| Cost of revenue | 131.91M | 58.37M | 36.69M | 26.98M | 22.93M |
| Total other income expense net | 27.56M | 5.29M | -6.81100M | -3.04800M | -20.06000M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | -239.05000M | 22.13M | -16.28900M | 2.11M | -18.23600M |
| Net income applicable to common shares | -239.05000M | 22.13M | -16.28900M | 2.90M | -9.36300M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Total assets | 378.73M | 376.79M | 343.10M | 542.59M | 51.70M |
| Intangible assets | 3.70M | 3.70M | 0.03M | 1.68M | 0.38M |
| Earning assets | - | - | - | - | - |
| Other current assets | 44.53M | 9.02M | 16.29M | 91.56M | 1.65M |
| Total liab | 83.96M | 83.53M | 87.53M | 120.00M | 36.26M |
| Total stockholder equity | 294.76M | 293.25M | 255.57M | 422.58M | 15.45M |
| Deferred long term liab | - | - | - | - | - |
| Other current liab | 52.09M | 51.82M | 7.64M | 16.70M | 4.67M |
| Common stock | 530.12M | 527.41M | 429.12M | 378.89M | 32.00M |
| Capital stock | - | 530.12M | 429.12M | 378.89M | 32.00M |
| Retained earnings | -294.92400M | -293.41508M | -239.06500M | -0.01500M | -22.14500M |
| Other liab | - | - | 1.98M | 8.69M | 0.21M |
| Good will | - | 0.00000M | 0.00000M | 16.95M | - |
| Other assets | - | 0.00000M | 38.19M | 90.58M | 0.97M |
| Cash | 84.04M | 83.61M | 30.81M | 125.27M | 5.95M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 69.15M | 68.80M | 67.24M | 101.18M | 28.48M |
| Current deferred revenue | - | 1.10M | - | - | 0.95M |
| Net debt | -64.16600M | -63.83771M | 34.20M | -40.53100M | 22.42M |
| Short term debt | 6.88M | 6.84M | 46.70M | 74.61M | 20.80M |
| Short long term debt | - | 4.02M | 43.05M | 70.26M | 17.17M |
| Short long term debt total | 19.87M | 19.77M | 65.01M | 84.74M | 28.37M |
| Other stockholder equity | 56.62M | 56.33M | - | - | - |
| Property plant equipment | - | - | 235.79M | 146.25M | 41.19M |
| Total current assets | 129.98M | 129.32M | 69.09M | 287.13M | 9.17M |
| Long term investments | - | - | - | - | - |
| Net tangible assets | - | - | 255.53M | 403.95M | 15.07M |
| Short term investments | 31.87M | 33.80M | 4.63M | 66.03M | - |
| Net receivables | 0.71M | 2.20M | 16.77M | 3.71M | 1.40M |
| Long term debt | - | - | 4.09M | 0.91M | 0.17M |
| Inventory | 0.70M | 0.70M | 0.59M | 0.55M | 0.17M |
| Accounts payable | 9.08M | 9.03M | 12.90M | 9.87M | 2.06M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 2.94M | 2.93M | 65.51M | 43.70M | 5.59M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | - | - |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 44.71M | 44.47M | 5.96M | 3.62M | 0.94M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 248.74M | 247.47M | 274.01M | 255.46M | 42.54M |
| Capital lease obligations | - | 15.85M | 17.86M | 13.57M | 11.02M |
| Long term debt total | - | - | - | - | - |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -155.01100M | -215.14700M | -3.60500M | -22.36400M | -21.67800M |
| Change to liabilities | 0.09M | 9.24M | 0.11M | -0.01600M | -0.10700M |
| Total cashflows from investing activities | -155.01100M | -215.14700M | -3.60500M | -22.36400M | -22.07700M |
| Net borrowings | -30.09700M | 49.49M | -1.86600M | 12.94M | 1.39M |
| Total cash from financing activities | 24.01M | 371.99M | 0.18M | 17.97M | 4.33M |
| Change to operating activities | -4.37500M | -5.31600M | 1.10M | -1.26000M | -0.12400M |
| Net income | -239.05000M | 22.13M | -16.28900M | 2.11M | -18.23600M |
| Change in cash | -94.70800M | 119.65M | 3.79M | 1.61M | -3.96600M |
| Begin period cash flow | 125.59M | 5.95M | 2.16M | 0.55M | 4.52M |
| End period cash flow | 30.89M | 125.59M | 5.95M | 2.16M | 0.55M |
| Total cash from operating activities | 36.25M | -37.17000M | 7.22M | 6.02M | 13.36M |
| Issuance of capital stock | 54.09M | 259.17M | 0.05M | 4.94M | 2.94M |
| Depreciation | 72.42M | 24.48M | 11.49M | 6.84M | 12.55M |
| Other cashflows from investing activities | -22.18200M | -22.18200M | -22.18200M | -22.18200M | - |
| Dividends paid | - | - | - | - | - |
| Change to inventory | - | -0.37900M | -0.03400M | -0.00500M | 0.41M |
| Change to account receivables | 0.43M | 0.06M | 0.00500M | -0.00200M | -0.33800M |
| Sale purchase of stock | - | - | - | - | - |
| Other cashflows from financing activities | 107.22M | 137.54M | 2.08M | 14.76M | 1.89M |
| Change to netincome | 206.86M | -99.16600M | 8.78M | -0.69600M | 10.74M |
| Capital expenditures | 194.98M | 193.26M | 4.48M | 23.78M | 22.39M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | -3.97800M | 15.39M | 3.24M | -3.02600M | -1.08800M |
| Stock based compensation | 21.79M | 22.59M | 2.20M | 2.87M | 19.09M |
| Other non cash items | 217.44M | -130.59300M | 5.14M | -1.17200M | 1.75M |
| Free cash flow | -158.72800M | -230.42600M | 2.74M | -17.75800M | -9.03000M |
Sector: Financial Services Industry: Capital Markets
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| BITF Bitfarms Ltd |
0.05 2.37% | 2.16 | - | 84.03 | 4.44 | 1.55 | 3.73 | 41.49 |
| MS Morgan Stanley |
0.30 0.19% | 160.75 | 16.50 | 13.76 | 2.80 | 1.65 | ||
| CGXYY China Galaxy Securities Co Ltd ADR |
- -% | 31.98 | 144.44 | 86.21 | 4.25 | 7.96 | ||
| SCHW Charles Schwab Corp |
-1.21 1.28% | 93.17 | 22.86 | 17.39 | 6.14 | 4.28 | ||
| GS Goldman Sachs Group Inc |
1.78 0.21% | 833.81 | 18.44 | 10.60 | 2.83 | 1.16 |
Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada. It also undertakes hosting of third-party mining hardware. The company was formerly known as Bitfarms Technologies Ltd and changed its name to Bitfarms Ltd. in October 2018. The company was founded in 2017 and is based in Toronto, Canada.
110 Yonge Street, Toronto, ON, Canada, M5C 1C4
| Name | Title | Year Born |
|---|---|---|
| Mr. Nicolas Bonta | Founder & Exec. Chairman | 1975 |
| Mr. Emiliano Joel Grodzki | Founder, CEO & Director | 1976 |
| Mr. L. Geoffrey Morphy | Pres & COO | NA |
| Mr. Jeffrey P. Lucas | Chief Financial Officer | 1960 |
| Mr. Benjamin Gagnon | Chief Mining Officer | NA |
| Mr. Marc-Andre Ammann | VP Fin. & Accounting | NA |
| Ms. Sonia Tercas | Director of Investor Relations | NA |
| Ms. Stephanie Wargo | VP of Marketing & Communications | NA |
| Mr. Philippe Fortier | VP of Corp. Devel. | NA |
| Ms. Andrea Keen Souza | Vice-Pres of HR | NA |
Disclaimer - This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.
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