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Bitfarms Provides March 2025 Production and Operations Update

Apr 01, 2025 - financialpost.com
Bitfarms Ltd., a global energy and compute infrastructure company, reported significant developments in March 2025, including the acquisition of Stronghold Digital Mining and the sale of its Yguazu, Paraguay data center. These strategic moves aim to enhance Bitfarms' portfolio in the U.S., reduce power costs, and diversify into high-performance computing (HPC) and artificial intelligence (AI). The company also appointed James Bond as SVP of HPC and Craig Hibbard as SVP of Infrastructure to support its HPC/AI strategy. Bitfarms' operational hashrate increased by 21% to 19.5 EHuM, and it achieved its Q2 efficiency target ahead of schedule.

Financially, Bitfarms reported total liquidity of $132 million, including $39 million in cash, and a treasury of 1,140 BTC valued at $93.4 million. The company earned 280 BTC in March, a 31% increase from February. Bitfarms is focused on expanding its HPC/AI capabilities and expects detailed feasibility studies for its Pennsylvania sites in Q2. The company aims to capitalize on growing AI computing demand while securing predictable cash flows and enhancing shareholder value.

Key takeaways:

  • Bitfarms completed the acquisition of Stronghold Digital Mining and the sale of its Yguazu, Paraguay data center, rebalancing its portfolio to the U.S.
  • The company achieved an operational hashrate of 19.5 EHuM and fleet efficiency of 19 w/TH, with a 21% increase in operational hashrate in March 2025.
  • Bitfarms is advancing its HPC/AI strategy with new executive appointments and evaluating its Pennsylvania sites for potential HPC conversion.
  • In March 2025, Bitfarms earned 280 BTC, a 31% increase month-over-month, with a total liquidity of $132 million, including $39 million in cash.
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