Bitfarms (BITF) Reports Strong January 2025 Production and Strategic Developments

Bitfarms Ltd. (NASDAQ/TSX: BITF), a leading Bitcoin mining and data center operator, has reported a robust start to 2025, according to a recent update. As per the latest production report, the company achieved a significant operational hashrate of 15.2 EH/s, marking a 19% increase from the previous month.

Operational Expansion and Strategic Transactions

The company has successfully energized two North American sites in Sharon, Pennsylvania, and Baie-Comeau, Quebec. Additionally, Bitfarms has entered a binding Letter of Intent (LOI) with HIVE Digital Technologies, Ltd. for the sale of its 200 MW Yguazu site, expected to close in Q1 2025. The strategic sale is anticipated to enhance the company’s energy pipeline by rebalancing its portfolio towards North American assets.

Further, Bitfarms is on track to close the acquisition of Stronghold Digital Mining, Inc. within the same quarter. The acquisition is expected to bolster Bitfarms’ capabilities in high-performance computing (HPC) and Bitcoin mining, as it aims to drive substantial growth in its American gigawatt pipeline.

Developments in High-Performance Computing

In a move to accelerate its HPC strategy, Bitfarms has partnered with ASG and WWT to evaluate its data centers for potential conversion to HPC/AI sites. These efforts are aimed at optimizing the long-term monetization of its North American energy assets, providing steady cash flows and enhancing shareholder value.

Hashrate and Capacity Updates

Despite facing challenges with some T21 miners, which led to a derating of guidance by 14% to 18 EH/s for H1 2025, Bitfarms remains focused on resolving these issues to improve overall performance. The company’s energy efficiency target remains at 19 w/TH.

Financial and Production Highlights

In January 2025, Bitfarms earned 201 BTC, a decrease from 211 BTC in December 2024. The company sold 42 BTC as part of its regular treasury management, generating $4.1 million in proceeds. By the end of January, Bitfarms’ treasury held 1,152 BTC, valued at approximately $121.0 million based on a Bitcoin price of $105,000.

Upcoming Conferences

Bitfarms is set to participate in the AGP/Alliance Global Partners Virtual Tech Conference on February 12, 2025, and the 37th Annual ROTH Conference in Dana Point, CA, on March 17-18, 2025.

Founded in 2017, Bitfarms is a global Bitcoin mining company that operates 13 data centers across four countries: Canada, the United States, Paraguay, and Argentina. The company is committed to utilizing sustainable energy sources, primarily hydroelectric power, to minimize environmental impact.

For more details, visit the full report on [GlobeNewswire](https://www.globenewswire.com/news-release/2025/02/03/3019381/0/en/Bitfarms-Provides-January-2025-Production-and-Operations-Update.html).