Bitfarms (BITF) Reports February 2025 Operational Growth and Strategic Moves

Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin mining and data center company, reported a significant increase in its operational hashrate and strategic portfolio enhancements in February 2025. The company, known for its vertically integrated operations, highlighted key achievements and future plans in its latest production update.

Operational Growth and Strategic Acquisitions

As of February 28, 2025, Bitfarms achieved an operational hashrate of 16.1 EH/s, marking a 6% increase month-over-month. The average operational hashrate also saw a 20% rise, reaching 13.4 EH/s. These increases set new all-time highs across three of the four countries where Bitfarms operates, namely Canada, the United States, Paraguay, and Argentina.

The company is set to finalize the acquisition of Stronghold Digital Mining, following a shareholder vote in favor of the deal. Additionally, Bitfarms plans to sell its Yguazu data center in Paraguay by the end of the first quarter of 2025. These strategic moves aim to optimize Bitfarms' energy portfolio, transitioning it into a North American energy and compute infrastructure powerhouse with lower-cost energy and high-quality assets.

Leadership and Infrastructure Development

In a move to bolster its infrastructure capabilities, Bitfarms appointed Craig Hibbard as the Senior Vice President of Infrastructure. With over 25 years of experience, including a significant role at Mawson Infrastructure Group, Hibbard is expected to lead large-scale development projects, enhancing the company's rapidly expanding PJM portfolio and advancing its HPC/AI business.

Financial Outcome and Future Prospects

Financially, Bitfarms reported earning 213 BTC in February, a 6% increase from January, selling 75 BTC for $6.5 million as part of its regular treasury management. The company’s treasury now holds 1,260 BTC, valued at approximately $105.8 million based on a Bitcoin price of $84,000.

Looking ahead, Bitfarms is actively participating in upcoming industry events, including the Cantor Fitzgerald Global Technology Conference in New York City and the 37th Annual ROTH Conference in Dana Point, California, scheduled for March 2025.

For further details, the full release is available on [Globe Newswire](https://www.globenewswire.com/news-release/2025/03/03/3035465/0/en/Bitfarms-Provides-February-2025-Production-and-Operations-Update.html).