BITF Stock Financial Analysis - Bitfarms Ltd. (TSX) Stock

Overview

Bitfarms Ltd. is a publicly traded cryptocurrency mining company primarily involved in the production of Bitcoin. Based in Toronto, Canada, the company constitutes a significant presence in the blockchain sector by operating one of the largest cryptocurrency mining operations in North America. Bitfarms' key projects focus on expanding its mining capabilities and enhancing energy efficiency across its data centers that are strategically located to utilize cost-effective, predominantly hydroelectric power. This commitment not only to scale but also to sustainability, seeks to position Bitfarms favorably within an increasingly competitive and environmentally concerned market. The firm continually invests in the latest mining technology and infrastructure to ensure high operational efficiency and profitability in the volatile cryptocurrency landscape.

Quality, Value, Momentum Scores

This card shows the Quality, Value, and Momentum scores for the company

Quality

The QualityScore is a proprietary scoring model that identifies high quality companies, based on cash generating efficiencies.

Value

Proprietary scoring model that ranks companies based on their relative valuation. Scores range from 0 to 100, with 100 being the most undervalued.

Momentum

Proprietary scoring model that ranks companies on their six-month momentum.

Fund Sentiment

The Fund Sentiment (fka Ownership) score is a proprietary quantitative model that ranks companies based on levels of ownership accumulation.

QVM

The QVM Score is a proprietary scoring model that combines Quality, Value, and Momentum into a single metric that ranks companies from 0 to 100.

Income Statement: Revenue, Operating Income, Net Income

The revenue for Bitfarms Ltd. as of June 30, 2025 is 245.66 MM.
The operating income for Bitfarms Ltd. as of June 30, 2025 is -103.66 MM.
The net income for Bitfarms Ltd. as of June 30, 2025 is -86.20 MM.

Period End (TTM)	Revenue (MM)	Operating Income (MM)	Net Income (MM)
2025-06-30	245.66	-103.66	-86.20
2025-03-31	209.41	-100.44	-83.96
2024-12-31	192.88	-103.60	-54.06
2024-09-30	182.96	-98.59	-131.27
2024-06-30	172.70	-76.44	-111.13
2024-03-31	166.63	-70.96	-111.20
2023-12-31	146.37	-63.79	-108.92
2023-09-30	127.16	-76.20	-0.31
2023-06-30	125.81	-73.20	-68.61
2023-03-31	132.15	-60.90	-183.86
2022-12-31	142.43	-40.99	-175.64
2022-09-30	174.99	3.12	-212.53
2022-06-30	186.52	35.95	-103.99
2022-03-31	181.39	54.58	34.25
2021-12-31	169.49	67.88	22.13
2021-09-30	121.22	48.30	7.08
2021-06-30	83.24	26.88	-21.41
2021-03-31	53.92	12.63	-21.47
2020-12-31	34.70	-5.38	-16.29
2020-09-30	33.91	-5.43	-9.79
2020-06-30

Income Statement: EPS

Period End (TTM)	Earnings Per Share Basic	Earnings Per Share Diluted
2025-06-30
2025-03-31	-0.18	-0.18
2024-12-31	-0.13	-0.13
2024-09-30	-0.35	-0.36
2024-06-30	-0.34	-0.35
2024-03-31	-0.39	-0.39
2023-12-31	-0.42	-0.42
2023-09-30	-0.00	-0.01
2023-06-30	-0.30	-0.31
2023-03-31	-0.85	-0.85
2022-12-31	-0.85	-0.85
2022-09-30	-1.06	-1.07
2022-06-30	-0.55	-0.55
2022-03-31	0.19	0.18
2021-12-31	0.14	0.13
2021-09-30	0.05	0.05
2021-06-30	-0.19	-0.19
2021-03-31	-0.23	-0.22
2020-12-31	-0.19	-0.19
2020-09-30	-0.12	-0.12
2020-06-30	-0.01	-0.01

Cash Flow: Operations, Investing, Financing

The cash from operating activities for Bitfarms Ltd. as of June 30, 2025 is -178.28 MM.
The cash from investing activities for Bitfarms Ltd. as of June 30, 2025 is -35.85 MM.
The cash from financing activities for Bitfarms Ltd. as of June 30, 2025 is 186.04 MM.

Period End (TTM)	Cash From Operating Activities (MM)	Cash From Investing Activities (MM)	Cash From Financing Activities (MM)
2025-06-30	-178.28	-35.85	186.04
2025-03-31	-127.85	-177.06	277.63
2024-12-31	-140.56	-178.39	294.46
2024-09-30	-208.50	-55.66	290.27
2024-06-30	-163.57	21.69	249.55
2024-03-31	-138.03	47.51	127.07
2023-12-31	-105.71	70.97	87.88
2023-09-30	-203.29	200.56	13.74
2023-06-30	50.47	-38.49	-27.21
2023-03-31	77.45	-58.47	-66.99
2022-12-31	-122.42	3.66	24.01
2022-09-30	-7.07	-224.33	223.90
2022-06-30	-37.77	-242.61	290.20
2022-03-31	-75.05	-280.32	379.66
2021-12-31	-43.32	-209.00	371.99
2021-09-30	-29.99	-128.63	200.62
2021-06-30	-12.52	-103.13	150.48
2021-03-31	-2.65	-31.49	84.85
2020-12-31	7.22	-3.60	0.18
2020-09-30	6.83	-6.85	-1.11
2020-06-30

Valuation Metrics : PE, PriceToBook, PriceToTBV

P/Book: The current closing price divided by the book value per share.

P/TBV: The current price divided by the tangible book value per share.

Period End (TTM)	p/e	P/Book	P/TBV
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31
2022-09-30
2022-06-30
2022-03-31
2021-12-31
2021-09-30
2021-06-30
2021-03-31
2020-12-31
2020-09-30
2020-06-30

Valuation Metrics : EBitToEv, EBit3YrAvgToEv

Period End (TTM)	EBIT/EV	EBIT (3y)/EV
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31
2022-09-30
2022-06-30
2022-03-31
2021-12-31
2021-09-30
2021-06-30
2021-03-31
2020-12-31
2020-09-30
2020-06-30

Management Effectiveness

The roa for Bitfarms Ltd. as of June 30, 2025 is -0.16.
The roe for Bitfarms Ltd. as of June 30, 2025 is -0.18.
The roic for Bitfarms Ltd. as of June 30, 2025 is -0.12.
The croic for Bitfarms Ltd. as of June 30, 2025 is -0.04.
The ocroic for Bitfarms Ltd. as of June 30, 2025 is -0.19.

Period End (TTM)	ROA	ROE	ROIC	CROIC	OCROIC
2025-06-30	-0.16	-0.18	-0.12	-0.04	-0.19
2025-03-31	-0.13	-0.15	-0.09	-0.04	-0.22
2024-12-31	-0.33	-0.18	-0.24	0.05	0.05
2024-09-30	-0.32	-0.44	-0.22	0.22	0.10
2024-06-30	-0.32	-0.39	-0.28	0.10	0.11
2024-03-31	-0.30	-0.41	-0.33	0.17	0.07
2023-12-31	-0.17	-0.24	-0.20	0.03	0.14
2023-09-30	-0.27	-0.39	-0.43	-0.05	0.17
2023-06-30	-0.52	-0.39	-0.42	-0.05	0.16
2023-03-31	-0.37	-0.54	-0.73	-0.14	0.23
2022-12-31	-0.66	-0.75	-0.59	-0.02	-0.00
2022-09-30	-0.32	-0.37	-0.55	-0.02	-0.00
2022-06-30	0.15	-0.52	-0.21	0.02	-0.00
2022-03-31	0.13	0.24	0.06	0.04	-0.11
2021-12-31	0.14	1.43	0.05	0.27	-0.09
2021-09-30	0.15	0.37	0.02	0.14	-0.06
2021-06-30	-0.45	-0.92	-0.10	0.16	-0.06
2021-03-31	-0.42	-0.80	-0.14	0.32	-0.02
2020-12-31	-0.31	-0.58	-0.37	0.09	0.16
2020-09-30	-0.19	-0.36	-0.22	-0.03	0.16
2020-06-30	-0.03	-0.06	-0.03	-0.12	0.21

Gross Margins

The gross margin for Bitfarms Ltd. as of June 30, 2025 is -0.11.
The net margin for Bitfarms Ltd. as of June 30, 2025 is -0.40.
The operating margin for Bitfarms Ltd. as of June 30, 2025 is -0.48.

Gross Margin: The Gross Margin is the ratio of revenue left after substracting the Cost of Goods Sold. It is calculated as 1.0 - (Revenue - COGS ) / Revenue.

Net Margin: The Net Margin (aka Profit Margin) is the ratio of revenue left after substracting the Net Income. It is calculated as Net Income / Revenue.

Operating Margin: The Operaing Margin is the ratio of revenue left after substracting the Operating Income. It is calculated as Operating Income / Revenue.

Period End (TTM)	Gross Margin	Net Margin	Operating Margin
2025-06-30	-0.11	-0.40	-0.48
2025-03-31	-0.17	-0.28	-0.54
2024-12-31	-0.17	-0.69	-0.52
2024-09-30	-0.17	-0.62	-0.43
2024-06-30	-0.03	-0.64	-0.30
2024-03-31	-0.15	-0.71	-0.42
2023-12-31	-0.28	-0.50	-0.60
2023-09-30	-0.24	-1.03	-0.58
2023-06-30	-0.11	-1.03	-0.58
2023-03-31	0.07	-1.86	-0.46
2022-12-31	0.35	-1.21	0.02
2022-09-30	0.51	-1.21	0.02
2022-06-30	0.60	-0.56	0.19
2022-03-31	0.66	0.19	0.30
2021-12-31	0.62	0.13	0.40
2021-09-30	0.53	0.06	0.40
2021-06-30	0.53	-0.26	0.32
2021-03-31	0.39	-0.40	0.23
2020-12-31	0.08	-0.47	-0.15
2020-09-30	0.09	-0.29	-0.17
2020-06-30	0.23	-0.03	-0.02