Bitfarms Files Material Change Report with Canadian Regulators

TL;DR

Bitfarms filed a material change report on Jan 2, 2025, with Canadian regulators. Check SEC filings for details.

AI Summary

On January 2, 2025, Bitfarms Ltd. filed a material change report with Canadian Securities Regulatory Authorities. This report includes a press release, which is incorporated by reference into several of Bitfarms' SEC registration statements, including Form F-10 (File No. 333-272989), Form S-8 (File No. 333-278868), and Form F-4.

Why It Matters

This filing indicates a significant update from Bitfarms Ltd. to its regulatory bodies, potentially impacting investor understanding of the company's current status.

Risk Assessment

Risk Level: low — This is a routine filing of a material change report and press release, not indicating immediate financial distress or significant new risks.

Key Players & Entities

• Bitfarms Ltd. (company) — Registrant
• January 2, 2025 (date) — Filing date
• Canadian Securities Regulatory Authorities (company) — Recipient of filing
• SEDAR+ (company) — Filing system
• Form F-10 (document) — Incorporated registration statement
• File No. 333-272989 (document) — File number for Form F-10
• Form S-8 (document) — Incorporated registration statement
• File No. 333-278868 (document) — File number for Form S-8
• Form F-4 (document) — Incorporated registration statement

FAQ

From the Filing

0001213900-25-000456.txt : 20250102 0001213900-25-000456.hdr.sgml : 20250102 20250102172954 ACCESSION NUMBER: 0001213900-25-000456 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20250102 FILED AS OF DATE: 20250102 DATE AS OF CHANGE: 20250102 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: 25503095 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 ea0226566-6k_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 January 2025 Commission File Number: 001-40370 BITFARMS LTD. (Translation of registrant’s name into English) 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 On January 2, 2025, the Registrant filed with the Canadian Securities Regulatory Authorities on the System for Electronic Data Analysis and Retrieval + (SEDAR +) a material change report that includes a copy of a press release, a copy of which is attached hereto as Exhibit 99.1, which is incorporated by reference into the Registration Statements 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), each as amended or supplemented. See the Exhibits listed below. Exhibits Exhibit No. Description 99.1 Material Change Report dated January 2, 2025 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: January 2, 2025 2 EX-99.1 2 ea022656602ex99-1_bitfarms.htm MATERIAL CHANGE REPORT DATED JANUARY 2, 2025 Exhibit 99.1 FORM 51-102F3 MATERIAL CHANGE REPORT Item 1 Name and Address of Company Bitfarms Ltd. (“Bitfarms” or the “Company”) 110 Yonge Street, Suite 1601 Toronto, Ontario M5C 1T4 Item 2 Date of Material Change January 2, 2025 Item 3 News Release The press release attached as Schedule “A” was released on January 2, 2025 by a newswire company in Canada. Item 4 Summary of Material Change The material change is described in the press release attached as Schedule “A”. Item 5 Full Description of Material Change The material change is described in the press release attached as Schedule “A”. Item 6 Reliance of subsection 7.1(2) of National Instrument 51-102 Not applicable. Item 7 Omitted Information Not applicable. Item 8 Executive Officer Ben Gagnon Chief Executive Officer Bitfarms Ltd. Bgagnon@bitfarms.com Item 9 Date of Report January 2, 2025. Schedule “A” Bitfarms Provides December 2024 Production and Operations Update - Increased hashrate 97% Y/Y to 12.8 EH/s - - Improved efficiency 40% Y/Y to 21 w/TH - - Earned 2,914 BTC for full-year 2024 - - Expanded operational MW 35% Y/Y to 324MW - - Acquisition of Stronghold Digital Mining on track to close in Q1 2025 - This news release constitutes a “designated news release” for the purposes of the Company’s second amended and restated prospectus supplement dated December 17, 2024, to its s