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Bitfarms (TSE:BITF)
TSX:BITF
Earnings Data
Report Date
May 19, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.03Last Year’s EPS
-0.03Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 27, 2025
|% Change Since: -1.40%
|Next Earnings Date:May 19, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive transformation with strong revenue growth, strategic transactions, and expansion in energy capacity. The company is advancing its HPC and AI strategy, although regulatory uncertainties and high expansion costs pose challenges.Company Guidance
During the Bitfarms Fourth Quarter 2024 Earnings Conference Call, significant progress was highlighted, including a nearly threefold increase in hashrate to 18.6 Exahash Under Management since January 1, 2024. The company improved its efficiency by 45%, achieving a Q2 2025 efficiency guidance of 19 watts per terahash ahead of schedule. Bitfarms expanded its energy capacity by over 90% to 461 energized megawatts, reducing the expected average power price to $0.043 per kilowatt-hour. The strategic acquisition of Stronghold Digital Mining and sale of the Yguazu data center were key transformative moves, aligning Bitfarms as a US-focused company, with 33% of its energized megawatts now in the US and plans to increase this to nearly 80%. The company also introduced its new Bitcoin One strategy, which generated a 135% return in US dollar terms from its Synthetic HODL program, and outlined its focus on diversifying into HPC and AI sectors. Bitfarms reported a direct mining profit of $26 million, a direct mining margin of 47%, and a net income of $15 million in Q4 2024.Transformation into a North American Energy and Compute Company
Bitfarms transformed from an international Bitcoin miner to a North American energy and compute company. Hashrate nearly tripled to 18.6 Exahash, and efficiency improved by 45%.
Strong Financial Performance
Q4 2024 revenue was $56 million, up 21% from Q3. Net income for the fourth quarter was $15 million, compared to a net loss of $37 million in Q3.
Successful Strategic Transactions
Completed acquisition of Stronghold Digital Mining and sale of Yguazu site in Paraguay. These moves enhanced portfolio size and improved operating economics.
Significant Energy Capacity Growth
Energy capacity increased by over 90% to 461 megawatts. Growth pipeline includes over 1.4 gigawatts, with 80% based in the US.
Advanced HPC and AI Strategy
Engaged two new advisors and hired SVP of Infrastructure and SVP of HPC and AI to bolster HPC and AI capabilities.
Bitcoin One Program Success
Generated a trading profit of approximately $18 million, achieving a 135% return in US dollar terms since its inception in Q4 2023.
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TSE:BITF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:BITF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 27, 2025 | C$1.43 | C$1.36 | -4.90% |
| Nov 13, 2024 | C$3.77 | C$3.19 | -15.38% |
| Aug 08, 2024 | C$2.60 | C$3.17 | +21.92% |
| May 15, 2024 | C$2.20 | C$2.54 | +15.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Bitfarms (TSE:BITF) report earnings?
Bitfarms (TSE:BITF) is schdueled to report earning on May 19, 2025, TBA Not Confirmed.
What is Bitfarms (TSE:BITF) earnings time?
Bitfarms (TSE:BITF) earnings time is at May 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:BITF EPS forecast?
TSE:BITF EPS forecast for the fiscal quarter 2025 (Q1) is -0.03.
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