Bitfarms Ltd. (T:BITF)
Business Focus: Cryptocurrency Mining
| Sector: Technology | Industry: Blockchain & Cryptocurrency |
| See Regulatory Filings on SEDAR | |
| Company Contact | |
| Address: | 1376 BAYVIEW AVE, UNIT 1 TORONTO ON M4G 3A1 |
| Tel: | 1-415-4333777 |
| Website: | https://www.bitfarms.io |
| IR: | See website |
| Key People | ||
| Nicolas Bonta Executive Chairman of the Board, Chief Development Officer, Founder | Philippe Fortier Vice President - Special Projects | L. Geoffrey Morphy President, Chief Operating Officer |
| Emiliano Joel Grodzki Chief Executive Officer, Chief Strategy Officer, Founder, Director | Mauro Ferrara Interim Chief Financial Officer, Corporate Secretary | Jeffrey Lucas Chief Financial Officer |
| Nathaniel Port Senior Vice President - Finance and Accounting | Benoit Gobeil Senior Vice President - Operations and Infrastructure | Stephanie Wargo Vice President - Marketing and Communications | Andrea Keen Souza Vice President - Human Resources |
| Business Overview |
| Bitfarms Ltd. is a Canada-based is a global bitcoin self-mining company. The Company is primarily engaged in the cryptocurrency mining industry. The Company is running vertically integrated mining operations with onsite technical repair, data analytics and its own electrical engineering and installation services to deliver operational performance and uptime. The Company operates cryptocurrency mining operations in North America. The Company's operations include Farnham, Saint-Hyacinthe, Cowansville, Magog, Sherbrooke 1&2, Washington, Paraguay, Sherbrooke Bunker, and Sherbrooke Leger. |
| Financial Overview |
| For the nine months ended 30 September 2022, Bitfarms Ltd revenues increased 5% to $115.4M. Net loss totaled $222.2M vs. income of $12.5M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net loss reflects Realized loss on disposition of digital increase from $152K to $122.2M (expense), Change in unrealized (gain) loss on reva increase from $992K to $21.1M (expense). |
| Employees: | 106 as of Dec 31, 2021 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $261.41M as of Sep 30, 2022 |
| Annual revenue (TTM): | $234.21M as of Sep 30, 2022 |
| EBITDA (TTM): | $90.74M as of Sep 30, 2022 |
| Net annual income (TTM): | -$284.45M as of Sep 30, 2022 |
| Free cash flow (TTM): | -$311.65M as of Sep 30, 2022 |
| Net Debt Last Fiscal Year: | $80.74M as of Sep 30, 2022 |
| Shares outstanding: | 218,275,357 as of Dec 13, 2022 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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