Bitfarms Will 'Wind Down' Bitcoin Mining and Pivot to AI After $46 Million Loss [Yahoo! Finance]
Bitfarms Ltd. (BITF)
Company Research
Source: Yahoo! Finance
The announcement comes alongside the firm's third-quarter earnings, in which it posted a net loss of $46 million, compared to a net loss of $24 million in Q3 2024 from its Bitcoin business. "We continue executing on our HPC/AI infrastructure development strategy with a fully funded supply chain and plan to convert our Washington site to support Nvidia GB300s with state-of-the-art liquid cooling," said Bitfarms CEO Ben Gagnon, in a statement. “Despite being less than 1% of our total developable portfolio, we believe that the conversion of just our Washington site to GPU-as-a-service could potentially produce more net operating income than we have ever generated with Bitcoin mining,” he added. Gagnon added that the firm would look to “wind down” its Bitcoin mining business throughout 2026 and 2027. Bitfarms, which operates 12 data centers across North America with an energy capacity of 341 megawatts (MW), is confident in its ability to make the transition successfully. Bitcoi
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BITF
News
- Bitfarms (TSX:BITF): Assessing Valuation After a Volatile 25% One-Month Pullback [Yahoo! Finance]Yahoo! Finance
- Bitfarms: Capitalizing On The Next Generation Of AI Data Centers [Seeking Alpha]Seeking Alpha
- Bitfarms (BITF) Jumps 12% as Market Sentiment Turns Upbeat [Yahoo! Finance]Yahoo! Finance
- Why Bitfarms (TSX:BITF) Is Up 43.0% After Announcing US$128M AI Data Center Pivot [Yahoo! Finance]Yahoo! Finance
- Analyst Confidence High in Bitfarms Ltd. (BITF) Following Q3 2025 Results [Yahoo! Finance]Yahoo! Finance
BITF
Sec Filings
- 11/17/25 - Form 6-K
- 11/13/25 - Form 6-K
- 11/13/25 - Form 6-K
- BITF's page on the SEC website