Bitfarms Ltd. Files 6-K with Q1 2025 Financials

Ticker: BITF · Form: 6-K · Filed: 2025-05-14T00:00:00.000Z

Sentiment: neutral

Topics: financial-reporting, sec-filing, cryptocurrency

Related Tickers: BITF

TL;DR

Bitfarms dropped Q1 2025 financials in a 6-K filing, check it for performance updates.

AI Summary

Bitfarms Ltd. filed a Form 6-K on May 14, 2025, to report its interim condensed consolidated financial statements and management's discussion and analysis for the three months ended March 31, 2025. This filing is incorporated by reference into their existing Registration Statements on Form F-10 and Form S-8.

Why It Matters

This filing provides investors with an update on Bitfarms' financial performance for the first quarter of 2025, crucial for understanding the company's operational health and strategic direction in the cryptocurrency mining sector.

Risk Assessment

Risk Level: medium — The filing itself is routine, but the cryptocurrency market is inherently volatile, posing risks to Bitfarms' operations and financial results.

Key Players & Entities

FAQ

What specific financial information is included in the Form 6-K filing?

The Form 6-K includes the interim condensed consolidated financial statements and management's discussion and analysis for the three months ended March 31, 2025.

Which registration statements is this Form 6-K incorporated into?

This Form 6-K is incorporated by reference into Bitfarms Ltd.'s Registration Statements on Form F-10 (File No. 333-272989) and Form S-8 (File No. 333-278868 and File No. 333-285894).

What is the filing date of this Form 6-K?

The filing date of this Form 6-K is May 14, 2025.

What period do the financial statements in the filing cover?

The financial statements cover the three months ended March 31, 2025.

Is Bitfarms Ltd. required to file annual reports under Form 20-F or Form 40-F?

Bitfarms Ltd. indicates it files annual reports under Form 40-F.

From the Filing

0001213900-25-042951.txt : 20250514 0001213900-25-042951.hdr.sgml : 20250514 20250514072058 ACCESSION NUMBER: 0001213900-25-042951 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20250514 FILED AS OF DATE: 20250514 DATE AS OF CHANGE: 20250514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Bitfarms Ltd CENTRAL INDEX KEY: 0001812477 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] ORGANIZATION NAME: 09 Crypto Assets EIN: 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: 25942640 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 ea0241655-6k_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 May 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 This report on Form 6-K, including the interim condensed consolidated financial statements for the three months ended March 31, 2025 and management’s discussion and analysis for the three months ended March 31, 2025, shall be deemed to be incorporated by reference as exhibits to the Registration Statements of Bitfarms Ltd. on Form F-10 (File No. 333-272989) and Form S-8 (File No. 333-278868 and File No. 333-285894 ) 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 months ended March 31, 2025 99.2 Management’s Discussion & Analysis for the three months ended March 31, 2025 99.3 CEO Certification of Interim Filings - Interim Certificate dated May 14, 2025 99.4 CFO Certification of Interim Filings - Interim Certificate dated May 14, 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: May 14, 2025 2 EX-99.1 2 ea024165501ex99-1_bitfarms.htm INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2025 Exhibit 99.1 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024 (Expressed in thousands of U.S. dollars - unaudited) BITFARMS LTD. TABLE OF CONTENTS 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 14 5. Business Combination 14 6. Sale of the Yguazu Mining Site 16 7. Digital Assets 17 8. Inventories 18 9. Derivative Assets and Liabilities 18 10. Assets Held for Sale 20 11. Impairment 21 12. Property, Plant and Equipment 23 13. Long-term Deposits and Equipment Prepayments 24 14. Refundable Deposits

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