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Bitfarms (BITF) Financials

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$1.03 +0.01 (+0.98%)
Closing price 04/25/2025 04:00 PM Eastern
Extended Trading
$1.02 -0.01 (-0.49%)
As of 04/25/2025 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Bitfarms

Annual Income Statements for Bitfarms

This table shows Bitfarms' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders		 -33 48 -100 -74 -93
Consolidated Net Income / (Loss)		 -16 48 -176 -109 -54
Net Income / (Loss) Continuing Operations		 -16 48 -100 -74 -93
Total Pre-Tax Income 		-16 43 -193 -109 -68
Total Operating Income		 -6.73 64 -284 -72 -108
Total Gross Profit		 2.87 111 11 -22 -32
Total Revenue		 35 169 142 146 193
Operating Revenue		 35 169 142 146 193
Total Cost of Revenue		 32 58 132 168 225
Operating Cost of Revenue		 32 - 132 168 225
Total Operating Expenses		 8.25 43 128 52 75
Selling, General & Admin Expense		 8.25 43 52 39 71
Research & Development Expense		 - - 1.28 - 0.34
Impairment Charge		 0.00 1.80 75 12 3.63
Total Other Income / (Expense), net		 -11 0.85 0.00 -1.78 0.00
Income Tax Expense		 0.17 21 -17 -0.40 -14
Basic Earnings per Share		 ($0.19) $0.14 ($0.85) ($0.42) ($0.13)
Weighted Average Basic Shares Outstanding		 84.92M 157.65M 207.78M 262.24M 414.67M
Diluted Earnings per Share		 ($0.19) $0.13 ($0.85) ($0.42) ($0.13)
Weighted Average Diluted Shares Outstanding		 84.92M 169.39M 207.78M 262.24M 479.33M
Weighted Average Basic & Diluted Shares Outstanding		 - 194.81M 207.78M 334.15M 414.67M

Quarterly Income Statements for Bitfarms

No quarterly income statements for Bitfarms are available.

Annual Cash Flow Statements for Bitfarms

This table details how cash moves in and out of Bitfarms' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents		 2.56 -129 -95 134 396
Net Cash From Operating Activities		 6.54 -75 -197 52 103
Net Cash From Continuing Operating Activities		 6.54 -75 -197 52 103
Net Income / (Loss) Continuing Operations		 -16 22 -176 -109 -54
Consolidated Net Income / (Loss)		 -16 22 -176 -109 -54
Depreciation Expense		 11 24 72 85 141
Non-Cash Adjustments To Reconcile Net Income		 11 -235 -72 76 30
Changes in Operating Assets and Liabilities, net		 0.55 113 -21 -0.40 -14
Net Cash From Investing Activities		 -3.57 -107 135 3.11 5.46
Net Cash From Continuing Investing Activities		 -3.57 -107 135 3.11 5.46
Sale of Property, Plant & Equipment		 0.88 1.11 11 3.11 5.46
Net Cash From Financing Activities		 -0.40 54 -24 79 287
Net Cash From Continuing Financing Activities		 -0.40 54 -24 79 287
Repayment of Debt		 -0.49 -20 -131 -31 -4.14
Issuance of Debt		 0.08 74 107 0.00 1.70
Issuance of Common Equity		 - - - 109 290
Cash Interest Received		 - - - 1.79 5.65

Quarterly Cash Flow Statements for Bitfarms

No quarterly cash flow statements for Bitfarms are available.

Annual Balance Sheets for Bitfarms

This table presents Bitfarms' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Total Assets		 52 543 343 379 668
Total Current Assets		 9.17 127 69 130 62
Cash & Equivalents		 5.95 126 31 84 60
Accounts Receivable		 1.10 1.04 0.70 0.71 1.26
Inventories, net		 0.00 - 1.22 - 1.18
Current Deferred & Refundable Income Taxes		 - 0.00 12 0.00 0.42
Plant, Property, & Equipment, net		 36 137 219 186 349
Total Noncurrent Assets		 6.74 279 68 105 257
Intangible Assets		 0.38 1.68 0.03 3.70 4.04
Noncurrent Deferred & Refundable Income Taxes		 0.00 3.90 0.00 0.00 0.00
Other Noncurrent Operating Assets		 6.37 255 67 100 247
Other Noncurrent Nonoperating Assets		 - 1.21 - 1.39 5.92
Total Liabilities & Shareholders' Equity		 52 902 343 379 668
Total Liabilities		 36 184 88 84 60
Total Current Liabilities		 28 105 67 69 36
Short-Term Debt		 17 10 43 4.02 0.15
Accounts Payable		 2.70 14 21 21 26
Other Taxes Payable		 - 12 - - 0.00
Other Current Liabilities		 3.63 68 3.82 43 10
Total Noncurrent Liabilities		 7.78 79 20 1.82 23
Long-Term Debt		 0.17 61 4.09 0.00 1.43
Asset Retirement Reserve & Litigation Obligation		 0.21 0.24 1.98 1.82 2.11
Noncurrent Deferred & Payable Income Tax Liabilities		 0.00 8.45 0.00 0.00 0.07
Other Noncurrent Operating Liabilities		 - 9.23 - - 20
Total Equity & Noncontrolling Interests		 15 718 255 295 608
Total Preferred & Common Equity		 15 718 255 295 608
Total Common Equity		 9.86 718 255 295 608
Common Stock		 32 355 405 535 852
Retained Earnings		 -22 -22 -197 -300 -335
Other Equity Adjustments		 - 385 48 60 90

Quarterly Balance Sheets for Bitfarms

No quarterly balance sheets for Bitfarms are available.

Annual Metrics and Ratios for Bitfarms

This table displays calculated financial ratios and metrics derived from Bitfarms' official financial filings.

Metric 2020 2021 2022 2023 2024
Growth Metrics		 - - - - -
Revenue Growth		 0.00% 388.40% -15.97% 2.76% 31.78%
EBITDA Growth		 0.00% 2,585.30% -337.85% 105.14% 207.08%
EBIT Growth		 0.00% 889.04% -540.43% 73.98% -45.54%
NOPAT Growth		 0.00% 801.05% -701.90% 74.60% -49.13%
Net Income Growth		 0.00% 396.41% -463.78% 37.99% 50.37%
EPS Growth		 0.00% 168.42% -753.85% 50.59% 69.05%
Operating Cash Flow Growth		 0.00% -1,253.27% -160.77% 126.40% 98.38%
Free Cash Flow Firm Growth		 0.00% 0.00% 22.14% 105.52% -4,034.92%
Invested Capital Growth		 0.00% 709.83% -5.77% -21.16% 141.43%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - -
Gross Margin		 8.28% 65.56% 7.38% -14.69% -16.78%
EBITDA Margin		 9.55% 52.49% -148.57% 7.43% 17.32%
Operating Margin		 -19.40% 37.55% -199.41% -49.28% -55.77%
EBIT Margin		 -23.55% 38.05% -199.41% -50.49% -55.77%
Profit (Net Income) Margin		 -46.94% 28.49% -123.32% -74.42% -28.03%
Tax Burden Percent		 101.07% 113.24% 90.98% 99.63% 79.09%
Interest Burden Percent		 197.20% 66.12% 67.97% 147.92% 63.55%
Effective Tax Rate		 0.00% 48.10% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -12.58% 19.38% -67.48% -19.75% -19.57%
ROIC Less NNEP Spread (ROIC-NNEP)		 -65.17% 11.61% -79.54% 280.53% -51.43%
Return on Net Nonoperating Assets (RNNOA)		 -92.87% -6.22% 31.39% -19.84% 7.59%
Return on Equity (ROE)		 -105.45% 13.17% -36.09% -39.60% -11.98%
Cash Return on Invested Capital (CROIC)		 0.00% -136.65% -61.54% 3.92% -102.42%
Operating Return on Assets (OROA)		 -15.81% 21.70% -64.14% -20.48% -20.56%
Return on Assets (ROA)		 -31.50% 16.25% -39.66% -30.18% -10.33%
Return on Common Equity (ROCE)		 -67.30% 13.07% -36.09% -39.60% -11.98%
Return on Equity Simple (ROE_SIMPLE)		 -105.45% 6.72% -68.77% -36.95% -8.89%
Net Operating Profit after Tax (NOPAT)		 -4.71 33 -199 -50 -75
NOPAT Margin		 -13.58% 19.49% -139.59% -34.50% -39.04%
Net Nonoperating Expense Percent (NNEP)		 52.59% 7.77% 12.06% -300.28% 31.86%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -16.90% -12.35%
Cost of Revenue to Revenue		 91.72% 34.44% 92.62% 114.69% 116.78%
SG&A Expenses to Revenue		 23.77% 25.51% 36.16% 26.85% 36.93%
R&D to Revenue		 0.00% 0.00% 0.90% 0.00% 0.17%
Operating Expenses to Revenue		 23.77% 25.48% 89.87% 35.22% 38.99%
Earnings before Interest and Taxes (EBIT)		 -8.17 64 -284 -74 -108
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3.31 89 -212 11 33
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.34 2.21 0.82
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.34 2.24 0.82
Price to Revenue (P/Rev)		 0.00 0.00 0.60 4.46 2.58
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.41 2.54 0.81
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.82 3.91 2.28
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 52.62 13.17
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 11.02 4.27
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 57.16 0.00
Leverage & Solvency		 - - - - -
Debt to Equity		 1.60 0.10 0.24 0.01 0.00
Long-Term Debt to Equity		 0.49 0.08 0.07 0.00 0.00
Financial Leverage		 1.43 -0.54 -0.39 -0.07 -0.15
Leverage Ratio		 3.35 0.81 0.91 1.31 1.16
Compound Leverage Factor		 6.60 0.54 0.62 1.94 0.74
Debt to Total Capital		 61.56% 9.02% 19.37% 1.35% 0.26%
Short-Term Debt to Total Capital		 42.73% 1.30% 13.59% 1.35% 0.02%
Long-Term Debt to Total Capital		 18.84% 7.72% 5.78% 0.00% 0.23%
Preferred Equity to Total Capital		 13.90% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 24.53% 90.98% 80.63% 98.65% 99.74%
Debt to EBITDA		 7.47 0.80 -0.29 0.37 0.05
Net Debt to EBITDA		 5.24 -0.61 -0.14 -7.36 -1.74
Long-Term Debt to EBITDA		 2.29 0.68 -0.09 0.00 0.04
Debt to NOPAT		 -5.25 2.15 -0.31 -0.08 -0.02
Net Debt to NOPAT		 -3.68 -1.65 -0.15 1.58 0.77
Long-Term Debt to NOPAT		 -1.61 1.84 -0.09 0.00 -0.02
Altman Z-Score		 0.00 0.00 -2.53 3.49 4.11
Noncontrolling Interest Sharing Ratio		 36.18% 0.76% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - -
Current Ratio		 0.32 1.21 1.02 1.88 1.72
Quick Ratio		 0.30 1.21 0.47 1.23 1.68
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -233 -181 10 -394
Operating Cash Flow to CapEx		 182.96% -70.44% -291.66% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.70 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.32 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - -
Asset Turnover		 0.67 0.57 0.32 0.41 0.37
Accounts Receivable Turnover		 31.46 158.33 163.80 206.88 195.52
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.97 1.96 0.80 0.72 0.72
Accounts Payable Turnover		 11.81 6.80 7.53 8.13 9.66
Days Sales Outstanding (DSO)		 11.60 2.31 2.23 1.76 1.87
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 30.92 53.70 48.45 44.88 37.78
Cash Conversion Cycle (CCC)		 -19.31 -51.40 -46.22 -43.11 -35.92
Capital & Investment Metrics		 - - - - -
Invested Capital		 37 303 286 225 544
Invested Capital Turnover		 0.93 0.99 0.48 0.57 0.50
Increase / (Decrease) in Invested Capital		 0.00 266 -17 -61 319
Enterprise Value (EV)		 0.00 0.00 116 572 440
Market Capitalization		 0.00 0.00 86 652 498
Book Value per Share		 $0.12 $4.55 $1.31 $1.31 $1.47
Tangible Book Value per Share		 $0.11 $4.44 $1.31 $1.30 $1.46
Total Capital		 40 789 317 299 610
Total Debt		 25 71 61 4.02 1.58
Total Long-Term Debt		 7.57 61 18 0.00 1.43
Net Debt		 17 -54 30 -80 -58
Capital Expenditures (CapEx)		 3.57 107 67 -3.11 -5.46
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -9.53 -93 14 -19 -33
Debt-free Net Working Capital (DFNWC)		 -2.14 32 45 65 26
Net Working Capital (NWC)		 -19 22 1.68 61 26
Net Nonoperating Expense (NNE)		 12 -15 -23 58 -21
Net Nonoperating Obligations (NNO)		 22 -415 30 -69 -64
Total Depreciation and Amortization (D&A)		 11 24 72 85 141
Debt-free, Cash-free Net Working Capital to Revenue		 -27.47% -55.14% 9.72% -13.11% -17.24%
Debt-free Net Working Capital to Revenue		 -6.16% 18.96% 31.40% 44.31% 13.63%
Net Working Capital to Revenue		 -55.64% 12.91% 1.18% 41.56% 13.55%
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.14 $0.00 $0.00 ($0.13)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 157.65M 224.20M 0.00 414.67M
Adjusted Diluted Earnings per Share		 $0.00 $0.13 $0.00 $0.00 ($0.13)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 169.39M 224.20M 0.00 479.33M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 194.81M 415.55M 0.00 414.67M
Normalized Net Operating Profit after Tax (NOPAT)		 -4.71 34 -146 -42 -73
Normalized NOPAT Margin		 -13.58% 20.04% -102.62% -28.64% -37.72%
Pre Tax Income Margin		 -46.44% 25.16% -135.55% -74.69% -35.44%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 -0.87 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -0.50 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -1.25 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -0.88 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics and Ratios for Bitfarms

No quarterly metrics and ratios for Bitfarms are available.

Frequently Asked Questions About Bitfarms' Financials

When does Bitfarms's financial year end?

According to the most recent income statement we have on file, Bitfarms' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Bitfarms' net income changed over the last 4 years?

Bitfarms' net income appears to be on an upward trend, with a most recent value of -$54.06 million in 2024, rising from -$16.29 million in 2020. The previous period was -$108.92 million in 2023.

What is Bitfarms's operating income?
Bitfarms's total operating income in 2024 was -$107.56 million, based on the following breakdown:
  • Total Gross Profit: -$32.36 million
  • Total Operating Expenses: $75.20 million
How has Bitfarms revenue changed over the last 4 years?

Over the last 4 years, Bitfarms' total revenue changed from $34.70 million in 2020 to $192.88 million in 2024, a change of 455.8%.

How much debt does Bitfarms have?

Bitfarms' total liabilities were at $59.62 million at the end of 2024, a 29.0% decrease from 2023, and a 64.4% increase since 2020.

How much cash does Bitfarms have?

In the past 4 years, Bitfarms' cash and equivalents has ranged from $5.95 million in 2020 to $125.60 million in 2021, and is currently $59.54 million as of their latest financial filing in 2024.

How has Bitfarms' book value per share changed over the last 4 years?

Over the last 4 years, Bitfarms' book value per share changed from 0.12 in 2020 to 1.47 in 2024, a change of 1,162.9%.


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This page (NASDAQ:BITF) was last updated on 4/27/2025 by MarketBeat.com Staff
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