Bitfarms Ltd. Files 6-K with Q3 2024 Financials

TL;DR

Bitfarms dropped Q3 2024 financials in a 6-K filing, check the numbers.

AI Summary

Bitfarms Ltd. filed a Form 6-K on November 13, 2024, reporting on its financial performance for the three and nine months ended September 30, 2024. The filing includes interim condensed consolidated financial statements and management's discussion and analysis. This report is incorporated by reference into several of Bitfarms' registration statements, including Form F-10 (File No. 333-272989).

Why It Matters

This filing provides investors with an update on Bitfarms' financial health and operational performance for the third quarter of 2024, which is crucial for assessing the company's current standing and future prospects in the cryptocurrency mining sector.

Risk Assessment

Risk Level: medium — The filing concerns financial reporting for a cryptocurrency company, which is inherently volatile and subject to regulatory scrutiny.

Key Players & Entities

• Bitfarms Ltd. (company) — Registrant
• November 13, 2024 (date) — Filing Date
• September 30, 2024 (date) — Reporting Period End Date
• Form F-10 (document) — Incorporated by Reference
• 333-272989 (document) — Registration Statement File Number

FAQ

From the Filing

0001213900-24-097122.txt : 20241113 0001213900-24-097122.hdr.sgml : 20241113 20241113071347 ACCESSION NUMBER: 0001213900-24-097122 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20241113 FILED AS OF DATE: 20241113 DATE AS OF CHANGE: 20241113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Bitfarms Ltd CENTRAL INDEX KEY: 0001812477 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40370 FILM NUMBER: 241451159 BUSINESS ADDRESS: STREET 1: 110 YONGE STREET STREET 2: SUITE 1601 CITY: TORONTO STATE: A6 ZIP: M5C 1T4 BUSINESS PHONE: 647-259-1790 MAIL ADDRESS: STREET 1: 110 YONGE STREET STREET 2: SUITE 1601 CITY: TORONTO STATE: A6 ZIP: M5C 1T4 6-K 1 ea0220360-6k_bitfarms.htm REPORT OF FOREIGN PRIVATE ISSUER UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of November 2024 Commission File Number: 001-40370 . BITFARMS LTD. (Exact Name of Registrant as Specified in Its Charter) 110 Yonge Street, Suite 1601, Toronto, Ontario, Canada M5C 1T4 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☐ Form 40-F ☒ DOCUMENTS INCLUDED AS PART OF THIS FORM 6-K This report on Form 6-K, including the interim condensed consolidated financial statements for the three and nine months ended September 30, 2024 and management’s discussion and analysis for the three and nine months ended September 30, 2024, shall be deemed to be incorporated by reference as exhibits to the Registration Statement of Bitfarms Ltd. on Form F-10 (File No. 333-272989 ), Form S-8 (File No. 333-278868 ) and Form F-4 (File No. 333-282657 ) and to be a part thereof from the date on which this report was furnished, to the extent not superseded by documents or reports subsequently filed or furnished. See the Exhibits listed below. Exhibits Exhibit No. Description 99.1 Interim Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2024 99.2 Management’s Discussion & Analysis for the three and nine months ended September 30, 2024 99.3 CEO Certification of Interim Filings - Interim Certificate dated November 13, 2024 99.4 CFO Certification of Interim Filings - Interim Certificate dated November 13, 2024 99.5 Material Change Report dated November 13, 2024 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BITFARMS LTD. By: /s/ Ben Gagnon Name: Ben Gagnon Title: Chief Executive Officer Date: November 13, 2024 2 EX-99.1 2 ea022036001ex99-1_bitfarms.htm INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 Exhibit 99.1 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 (Expressed in thousands of U.S. dollars - unaudited) BITFARMS LTD. TABLE OF CONTENTS Page Financial Statements (unaudited) Interim Consolidated Statements of Financial Position 3 Interim Consolidated Statements of Profit or Loss and Comprehensive Profit or Loss 4 Interim Consolidated Statements of Changes in Equity 5 Interim Consolidated Statements of Cash Flows 6 Notes to the Interim Condensed Consolidated Financial Statements (unaudited) 1. Nature of Operations 7 2. Liquidity 8 3. Basis of Presentation and Material Accounting Policy Information 9 4. Significant Accounting Judgments and Estimates 13 5. Other Assets 13 6. Digital Assets 14 7. Derivative Assets and Liabilities 15 8. Assets Held for Sale 16 9. Impairment 18 10