Bitfarms Ltd. Earnings Recaps
Q3 2025
Nov 13, 2025
Bitfarms delivered robust growth in Q3 2025, advancing its strategic transition towards becoming a leader in high-performance computing (HPC) and AI infrastructure, capitalizing on increasing demand and higher lease rates in the data center sector.
Key takeaways
- Revenue growth driven by increased demand for HPC and AI infrastructure, with lease rates rising significantly from $120 to $150 per kilowatt per month.
- Continued investments in energy and infrastructure position Bitfarms to capture the anticipated shortfall of 45 gigawatts of power for data centers by 2030.
- Strategic focus on long-term, high-value contracts to optimize margins, prioritizing infrastructure development to reduce time between lease signing and revenue generation.
Q2 2025
Aug 12, 2025
Bitfarms demonstrated solid advancements in Q2 2025, highlighting a strategic shift towards HPC and AI operations while also managing challenges related to its operations in Argentina.
Key takeaways
- Mined 718 Bitcoin at a direct cost of $48,200 per Bitcoin, with revenues around $98,000 per Bitcoin.
- Initiated the shutdown of Argentine operations, set to conclude by November 11, 2025, which is expected to free up approximately $18 million in cash flow.
- Achieved a free cash flow of about $8 million monthly from mining operations, with Bitcoin holdings increased to about 1,200 BTC, valued at approximately $145 million.
- Enhanced operational efficiencies with improved energy metrics despite the Argentina exit, indicating a robust cash flow foundation for future growth.
- Positioned strategically in North America with over 1 gigawatt in energy capacity, attracting interests from major players like Amazon and CoreWeave.