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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