Cash flow Bitfarms Ltd.

Equities

BITF

CA09173B1076

Blockchain & Cryptocurrency

Market Closed - Toronto S.E. Other stock markets 21:00:00 06/02/2026 GMT			5-day change	1st Jan Change
2.920 ^CAD	+25.32%		-7.59%	-9.60%

02-06	Toronto Stocks Rally After Tech, Commodity Slide; ARC Resources Slips as Underperforming Asset Removed From Outlook	DJ
02-06	Bitfarms to Redomicile to US, Rename as Keel Infrastructure	MT

ded2.Q_sJJZtGSMIRwH_Ej17x1sUv3Z_hm7dfPZylxndWRos.cYNTcfgIDfFLtzWi3A-SlaZNn8qy_-8weOjIlBg7PtoZw39z3jEju0iHCA

Published financial data: BITFARMS LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	34.7M	169M	142M	146M	193M
Total Revenues	34.7M	169M	142M	146M	193M
Cost of Goods Sold, Total	31.83M	58.37M	132M	168M	225M
Gross Profit	2.87M	111M	10.52M	-21.5M	-32.36M
Selling General & Admin Expenses, Total	8.25M	43.24M	51.51M	39.29M	71.24M
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	8.25M	43.24M	51.51M	39.29M	71.24M
Operating Income	-5.38M	67.88M	-40.99M	-60.79M	-104M
Interest Expense, Total	-6.1M	-3.42M	-14.22M	-4.08M	-1.74M
Interest And Investment Income	-	-	-	1.42M	6.04M
Net Interest Expenses	-6.1M	-3.42M	-14.22M	-2.66M	4.3M
Currency Exchange Gains (Loss)	-238K	-647K	-2.94M	-7.84M	-1.48M
Other Non Operating Income (Expenses)	-2.96M	-28.24M	-156M	-44.19M	34.08M
EBT, Excl. Unusual Items	-14.68M	35.58M	-214M	-115M	-66.7M
Impairment of Goodwill	-	-	-17.9M	-	-
Gain (Loss) On Sale Of Investments	-	6.15M	51.65M	12.24M	2.31M
Gain (Loss) On Sale Of Assets	-1.44M	848K	-1.28M	-14.03M	-3.96M
Asset Writedown	-	60K	-75.21M	-	-
Other Unusual Items	-	-	-	12.84M	-
EBT, Incl. Unusual Items	-16.12M	42.64M	-256M	-104M	-68.35M
Income Tax Expense	172K	20.51M	-17.41M	-401K	-14.29M
Earnings From Continuing Operations	-16.29M	22.13M	-239M	-104M	-54.06M
Net Income to Company	-16.29M	22.13M	-239M	-104M	-54.06M
Minority Interest	-	-	-	-	-
Net Income - (IS)	-16.29M	22.13M	-239M	-104M	-54.06M
Net Income to Common Incl Extra Items	-16.29M	22.13M	-239M	-104M	-54.06M
Net Income to Common Excl. Extra Items	-16.29M	22.13M	-239M	-104M	-54.06M
Per Share Items
Net EPS - Basic	-0.19	0.14	-1.15	-0.4	-0.13
Basic EPS - Continuing Operations	-0.19	0.14	-1.15	-0.4	-0.13
Basic Weighted Average Shares Outstanding	84.92M	158M	208M	262M	415M
Net EPS - Diluted	-0.19	0.13	-1.15	-0.4	-0.13
Diluted EPS - Continuing Operations	-0.19	0.13	-1.15	-0.4	-0.13
Diluted Weighted Average Shares Outstanding	84.92M	169M	208M	262M	415M
Normalized Basic EPS	-0.11	0.14	-0.64	-0.28	-0.1
Normalized Diluted EPS	-0.11	0.13	-0.64	-0.28	-0.1
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	4.78M	90.69M	27.36M	20.77M	34.23M
EBITA	-5.37M	67.88M	-40.99M	-60.68M	-103M
EBIT	-5.38M	67.88M	-40.99M	-60.79M	-104M
EBITDAR	5.07M	-	-	-	-
Effective Tax Rate - (Ratio)	-1.07	48.1	6.79	0.38	20.91
Total Current Taxes	172K	11.66M	-8.96M	2.93M	-250K
Total Deferred Taxes	-	8.84M	-8.45M	-3.33M	-14.04M
Normalized Net Income	-9.17M	22.24M	-134M	-72.18M	-41.69M
Interest on Long-Term Debt	6.24M	3.42M	8.76M	4.08M	1.74M
Supplemental Operating Expense Items
Advertising Expense	38K	174K	333K	491K	721K
Selling and Marketing Expenses	38K	174K	333K	491K	721K
General and Administrative Expenses	2.32M	43.06M	32.4M	18.92M	36.44M
Net Rental Expense, Total	291K	-	-	-	-
Imputed Operating Lease Interest Expense	562K	-	-	-	-
Imputed Operating Lease Depreciation	-271K	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	21.79M	10.92M	13.95M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	2.2M	22.58M	-	-	-
Total Stock-Based Compensation	2.2M	22.58M	21.79M	10.92M	13.95M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	5.95M	126M	30.89M	84.04M	59.54M
Total Cash And Short Term Investments	5.95M	126M	30.89M	84.04M	59.54M
Accounts Receivable, Total	1.1M	1.04M	701K	714K	1.26M
Other Receivables	297K	2.68M	16.07M	1.49M	7.71M
Total Receivables	1.4M	3.72M	16.77M	2.21M	8.97M
Inventory	169K	548K	588K	705K	1.18M
Prepaid Expenses	203K	3.2M	-	-	-
Other Current Assets, Total	1.45M	154M	20.85M	43.03M	144M
Total Current Assets	9.17M	287M	69.09M	130M	214M
Gross Property Plant And Equipment	73.49M	186M	384M	427M	544M
Accumulated Depreciation	-32.3M	-39.68M	-149M	-227M	-173M
Net Property Plant And Equipment	41.19M	146M	236M	200M	372M
Goodwill	-	16.96M	-	-	-
Other Intangibles, Total	377K	1.68M	33K	3.7M	4.04M
Deferred Tax Assets Long-Term	-	3.9M	-	-	-
Other Long-Term Assets, Total	973K	86.68M	38.18M	44.71M	78.32M
Total Assets	51.7M	543M	343M	379M	668M
Liabilities
Accounts Payable, Total	2.06M	9.87M	12.9M	9.08M	21.92M
Accrued Expenses, Total	-	-	-	-	-
Short-term Borrowings	-	60M	-	-	-
Current Portion of Long-Term Debt	17.17M	10.26M	43.05M	4.02M	146K
Current Portion of Leases	3.63M	4.35M	3.65M	2.86M	2.09M
Current Income Taxes Payable	316K	12.09M	-	1.11M	-
Other Current Liabilities	5.3M	4.61M	7.64M	52.09M	12.12M
Total Current Liabilities	28.48M	101M	67.24M	69.15M	36.27M
Long-Term Debt	174K	910K	4.09M	-	1.43M
Long-Term Leases	7.4M	9.23M	14.22M	12.99M	19.75M
Deferred Tax Liability Non Current	-	8.45M	-	-	65K
Other Non Current Liabilities	209K	239K	1.98M	1.82M	2.11M
Total Liabilities	36.26M	120M	87.53M	83.96M	59.62M
Common Stock, Total	32M	379M	429M	530M	852M
Additional Paid In Capital	5.59M	43.7M	65.51M	56.62M	67.52M
Retained Earnings	-22.14M	-15K	-239M	-295M	-335M
Comprehensive Income and Other	-	-	-	2.94M	22.7M
Total Common Equity	15.45M	423M	256M	295M	608M
Minority Interest	-	-	-	-	-
Total Equity	15.45M	423M	256M	295M	608M
Total Liabilities And Equity	51.7M	543M	343M	379M	668M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	145M	201M	238M	339M	554M
ECS Total Common Shares Outstanding	88.94M	195M	224M	334M	479M
Book Value / Share	0.17	2.17	1.14	0.88	1.27
Tangible Book Value	15.07M	404M	256M	291M	604M
Tangible Book Value Per Share	0.17	2.07	1.14	0.87	1.26
Total Debt	28.37M	84.74M	65.01M	19.87M	23.42M
Net Debt	22.42M	-40.85M	34.12M	-64.17M	-36.13M
Debt Equivalent Oper. Leases	2.33M	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Account Code - Inventory Valuation	3	3	-	-	3
Inventories - Raw Materials, Total	169K	548K	588K	705K	1.18M
Land - (BS)	3.26M	4.55M	4.39M	5.74M	34.43M
Machinery, Total	53.12M	157M	309M	356M	427M
Full Time Employees	-	106	150	170	-
Accumulated Allowance for Doubtful Accounts (Supple)	40K	-	37K	51K	47K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-16.29M	22.13M	-239M	-104M	-54.06M
Depreciation & Amortization - CF	11.13M	24.24M	72.31M	84.65M	140M
Amortization of Goodwill and Intangible Assets - (CF)	9K	-	-	113K	561K
Depreciation & Amortization, Total	11.14M	24.24M	72.31M	84.76M	141M
Amortization of Deferred Charges, Total - (CF)	351K	235K	109K	21K	12K
(Gain) Loss From Sale Of Asset	1.44M	4.3M	-889K	1.78M	3.96M
(Gain) Loss on Sale of Investments - (CF)	-	0	-51.65M	-12.24M	-2.31M
Asset Writedown & Restructuring Costs	-	-60K	93.11M	12.25M	-
Stock-Based Compensation (CF)	2.2M	22.58M	21.79M	10.92M	13.95M
Other Operating Activities, Total	5.14M	-126M	144M	28.91M	-234M
Change In Accounts Receivable	5K	64K	429K	-13K	-545K
Change In Inventories	-34K	-379K	-	-	-475K
Change In Accounts Payable	109K	9.24M	94K	-315K	-15.83M
Change In Income Taxes	2.06M	11.78M	-126K	156K	-178K
Change in Other Net Operating Assets	1.1M	-5.32M	-4.38M	1.41M	7.81M
Cash from Operations	7.22M	-37.17M	36.25M	23.6M	-141M
Capital Expenditure	-4.48M	-193M	-195M	-73.7M	-340M
Sale of Property, Plant, and Equipment	879K	1.11M	10.5M	3.11M	5.46M
Cash Acquisitions	-	-23M	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	51.65M	12.24M	2.31M
Other Investing Activities, Total	-	-	-22.18M	-	154M
Cash from Investing	-3.6M	-215M	-155M	-58.34M	-178M
Short Term Debt Issued, Total	-	60M	40M	-	-
Long-Term Debt Issued, Total	84K	14.23M	67.2M	-	1.7M
Total Debt Issued	84K	74.23M	107M	-	1.7M
Short Term Debt Repaid, Total	-	-	-100M	-	-
Long-Term Debt Repaid, Total	-1.95M	-24.73M	-37.3M	-34.18M	-6.36M
Total Debt Repaid	-1.95M	-24.73M	-137M	-34.18M	-6.36M
Issuance of Common Stock	2.05M	322M	54.11M	122M	298M
Other Financing Activities, Total	-	-	-	-	714K
Cash from Financing	185K	372M	24.01M	87.88M	294M
Foreign Exchange Rate Adjustments	-15K	-21K	43K	18K	-9K
Net Change in Cash	3.79M	120M	-94.71M	53.15M	-24.5M
Supplemental Items
Cash Interest Paid	4.25M	3.98M	17.72M	12.14M	1.74M
Cash Income Tax Paid (Refund)	-	-	14.96M	-11.59M	1.51M
Levered Free Cash Flow	8.49M	-245M	-17.98M	15.28M	-387M
Unlevered Free Cash Flow	12.3M	-243M	-9.09M	17.82M	-386M
Change In Net Working Capital	-6.46M	139M	-117M	-33.82M	136M
Net Debt Issued / Repaid	-1.87M	49.5M	-30.1M	-34.18M	-4.67M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-6.43	14.28	-5.78	-10.53	-12.38
Return on Total Capital	-7.14	15.4	-6.19	-11.97	-13.69
Return On Equity %	-74.83	10.1	-70.5	-37.82	-11.98
Return on Common Equity	-74.83	10.1	-70.5	-37.82	-11.98
Margin Analysis
Gross Profit Margin %	8.28	65.56	7.38	-14.69	-16.78
SG&A Margin	23.77	25.51	36.16	26.84	36.93
EBITDA Margin %	13.77	53.51	19.21	14.19	17.75
EBITA Margin %	-15.47	40.05	-28.78	-41.46	-53.42
EBIT Margin %	-15.49	40.05	-28.78	-41.54	-53.71
Income From Continuing Operations Margin %	-46.94	13.06	-167.84	-71.08	-28.03
Net Income Margin %	-46.94	13.06	-167.84	-71.08	-28.03
Net Avail. For Common Margin %	-46.94	13.06	-167.84	-71.08	-28.03
Normalized Net Income Margin	-26.43	13.12	-93.78	-49.31	-21.61
Levered Free Cash Flow Margin	24.46	-144.74	-12.62	10.44	-200.76
Unlevered Free Cash Flow Margin	35.45	-143.48	-6.38	12.18	-200.2
Asset Turnover
Asset Turnover	0.66	0.57	0.32	0.41	0.37
Fixed Assets Turnover	0.81	1.81	0.75	0.67	0.67
Receivables Turnover (Average Receivables)	31.39	158.33	163.8	206.88	195.52
Inventory Turnover (Average Inventory)	209.41	162.82	232.24	259.66	238.98
Short Term Liquidity
Current Ratio	0.32	2.84	1.03	1.88	5.89
Quick Ratio	0.26	1.28	0.71	1.25	1.89
Operating Cash Flow to Current Liabilities	0.25	-0.37	0.54	0.34	-3.88
Days Sales Outstanding (Average Receivables)	11.66	2.3	2.23	1.76	1.87
Days Outstanding Inventory (Average Inventory)	1.75	2.24	1.57	1.41	1.53
Average Days Payable Outstanding	24.96	37.07	31.49	23.87	25.13
Cash Conversion Cycle (Average Days)	-11.55	-32.52	-27.69	-20.7	-21.72
Long Term Solvency
Total Debt/Equity	183.65	20.05	25.44	6.74	3.85
Total Debt / Total Capital	64.74	16.7	20.28	6.32	3.71
LT Debt/Equity	49.01	2.4	7.16	4.41	3.48
Long-Term Debt / Total Capital	17.28	2	5.71	4.13	3.35
Total Liabilities / Total Assets	70.12	22.12	25.51	22.17	8.93
EBIT / Interest Expense	-0.88	19.85	-2.88	-14.9	-59.61
EBITDA / Interest Expense	0.94	26.94	2.2	5.88	21.49
(EBITDA - Capex) / Interest Expense	0.21	-29.57	-11.51	-12.19	-174.05
Total Debt / EBITDA	4.93	0.92	2.08	0.83	0.63
Net Debt / EBITDA	3.89	-0.44	1.09	-2.68	-0.97
Total Debt / (EBITDA - Capex)	22.27	-0.84	-0.4	-0.4	-0.08
Net Debt / (EBITDA - Capex)	17.6	0.4	-0.21	1.29	0.12
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.04	388.4	-15.97	2.76	31.78
Gross Profit, 1 Yr. Growth %	-74.88	3.77K	-90.53	-304.43	50.49
EBITDA, 1 Yr. Growth %	-32.04	1.8K	-69.83	-24.07	64.79
EBITA, 1 Yr. Growth %	-464.92	-1.36K	-160.38	48.05	61.8
EBIT, 1 Yr. Growth %	-469.55	-1.36K	-160.38	48.32	62.4
Earnings From Cont. Operations, 1 Yr. Growth %	-873.09	-235.86	-1.18K	-40.77	-50.37
Net Income, 1 Yr. Growth %	-661.88	-235.86	-1.18K	-40.77	-50.37
Normalized Net Income, 1 Yr. Growth %	-1.38K	-342.45	-700.68	-23.17	-45.93
Diluted EPS Before Extra, 1 Yr. Growth %	-579.57	-167.77	-985.01	-52.94	-68.96
Accounts Receivable, 1 Yr. Growth %	-0.45	-5.89	-32.47	1.85	76.33
Inventory, 1 Yr. Growth %	25.19	224.26	7.3	19.9	67.38
Net Property, Plant and Equip., 1 Yr. Growth %	-6.41	255.09	61.23	-15.04	85.47
Total Assets, 1 Yr. Growth %	-2.18	949.41	-36.77	10.38	76.28
Tangible Book Value, 1 Yr. Growth %	-45.03	2.58K	-36.74	13.98	107.5
Common Equity, 1 Yr. Growth %	-45	2.64K	-39.52	15.41	106.27
Cash From Operations, 1 Yr. Growth %	19.98	-614.61	-183.68	-34.9	32.97
Capital Expenditures, 1 Yr. Growth %	-81.14	4.21K	0.89	-62.2	361.14
Levered Free Cash Flow, 1 Yr. Growth %	-146.94	-2.99K	-92.67	-185.78	-2.46K
Unlevered Free Cash Flow, 1 Yr. Growth %	-176.69	-2.08K	-96.26	-299.84	-2.14K
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	1.32	128.64	102.59	-7.07	16.37
Gross Profit, 2 Yr. CAGR %	-48.61	211.68	91.34	-56.01	75.4
EBITDA, 2 Yr. CAGR %	-39.29	259.08	139.24	-52.14	11.86
EBITA, 2 Yr. CAGR %	60.38	579.31	176.33	-5.45	58.55
EBIT, 2 Yr. CAGR %	61.48	583.04	176.09	-5.36	58.98
Earnings From Cont. Operations, 2 Yr. CAGR %	-5.49	224.08	283.09	116.82	-44.52
Net Income, 2 Yr. CAGR %	31.9	176.29	283.09	116.82	-44.52
Normalized Net Income, 2 Yr. CAGR %	-4.47	456.42	281.62	80.16	-33.39
Diluted EPS Before Extra, 2 Yr. CAGR %	7.99	80.28	144.9	75.41	-60.84
Accounts Receivable, 2 Yr. CAGR %	9.97	-3.21	-20.28	-17.06	34.02
Inventory, 2 Yr. CAGR %	41	101.48	86.53	13.42	41.66
Net Property, Plant and Equip., 2 Yr. CAGR %	40.51	82.3	139.27	17.04	25.53
Total Assets, 2 Yr. CAGR %	40.39	220.4	157.6	-16.45	39.49
Tangible Book Value, 2 Yr. CAGR %	2.19	283.87	311.78	-15.12	53.79
Common Equity, 2 Yr. CAGR %	0.01	287.88	306.75	-16.48	54.29
Cash From Operations, 2 Yr. CAGR %	-27.55	148.48	124.02	-26.19	7.15
Capital Expenditures, 2 Yr. CAGR %	-55.64	185.09	559.42	-38.25	32.02
Levered Free Cash Flow, 2 Yr. CAGR %	-3.57	268.31	45.53	-75.05	366.32
Unlevered Free Cash Flow, 2 Yr. CAGR %	16.35	289.34	-14.05	-72.93	557.97
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-12.6	71.15	63.78	61.57	4.4
Gross Profit, 3 Yr. CAGR %	-59.7	116.98	-2.76	95.61	-33.72
EBITDA, 3 Yr. CAGR %	-53.1	91.22	57.27	63.19	-27.73
EBITA, 3 Yr. CAGR %	-49.37	219.21	203.17	124.43	14.92
EBIT, 3 Yr. CAGR %	-49.34	220.5	204.27	124.44	15.13
Earnings From Cont. Operations, 3 Yr. CAGR %	-17.9	6.66	384.11	85.54	34.68
Net Income, 3 Yr. CAGR %	-17.9	33.21	335.26	85.54	34.68
Normalized Net Income, 3 Yr. CAGR %	-29.19	30.31	470.8	98.91	23.3
Diluted EPS Before Extra, 3 Yr. CAGR %	-27.83	-7.55	206.39	27.76	0.1
Accounts Receivable, 3 Yr. CAGR %	-	4.41	-14.15	-13.5	6.65
Inventory, 3 Yr. CAGR %	-	86.12	63.31	60.98	29.13
Net Property, Plant and Equip., 3 Yr. CAGR %	24.5	91.39	74.99	69.43	36.45
Total Assets, 3 Yr. CAGR %	14.38	174.5	86.54	94.21	7.16
Tangible Book Value, 3 Yr. CAGR %	-13.37	203.64	110.46	168.3	14.35
Common Equity, 3 Yr. CAGR %	-17.89	201.34	108.77	167.22	12.89
Cash From Operations, 3 Yr. CAGR %	-46.06	39.27	81.93	48.38	48.05
Capital Expenditures, 3 Yr. CAGR %	-62.07	103.92	101.65	154.25	20.7
Levered Free Cash Flow, 3 Yr. CAGR %	-	199.54	-0.2	21.63	16.43
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	199.1	-17.26	13.15	16.66
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	22.34	34.06	42.85
Gross Profit, 5 Yr. CAGR %	-	-	-24.85	14.6	23.12
EBITDA, 5 Yr. CAGR %	-	-	-10	9.88	37.23
EBITA, 5 Yr. CAGR %	-	-	-0.18	96.2	133.93
EBIT, 5 Yr. CAGR %	-	-	-0.18	96.75	134.69
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	52.03	41.66	91.36
Net Income, 5 Yr. CAGR %	-	-	52.03	61.87	79.53
Normalized Net Income, 5 Yr. CAGR %	-	-	38.91	48.34	125.29
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	17.65	19.45	26.66
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-4.78	2.59
Inventory, 5 Yr. CAGR %	-	-	-	52.67	54.28
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	61.68	57.21	53.21
Total Assets, 5 Yr. CAGR %	-	-	58.27	70.57	66.07
Tangible Book Value, 5 Yr. CAGR %	-	-	61.61	82.37	85.61
Common Equity, 5 Yr. CAGR %	-	-	55.73	80.36	84.96
Cash From Operations, 5 Yr. CAGR %	-	-	-4.66	11.39	87.78
Capital Expenditures, 5 Yr. CAGR %	-	-	18.87	26.46	70.22
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	10.85	84.56
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	14.42	88.93