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Bitfarms (BITF) Financials

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$0.91 -0.03 (-3.39%)
Closing price 04:00 PM Eastern
Extended Trading
$0.92 +0.01 (+0.98%)
As of 07:58 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 2024 2023 2022 2021 2020
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Net Income / (Loss) Attributable to Common Shareholders		 -93 -74 -100 48 -33
Consolidated Net Income / (Loss)		 -54 -109 -176 48 -16
Net Income / (Loss) Continuing Operations		 -93 -74 -100 48 -16
Total Pre-Tax Income 		-68 -109 -193 43 -16
Total Operating Income		 -108 -72 -284 64 -6.73
Total Gross Profit		 -32 -22 11 111 2.87
Total Revenue		 193 146 142 169 35
Operating Revenue		 193 146 142 169 35
Total Cost of Revenue		 225 168 132 58 32
Operating Cost of Revenue		 225 168 132 - 32
Total Operating Expenses		 75 52 128 43 8.25
Selling, General & Admin Expense		 71 39 52 43 8.25
Research & Development Expense		 0.34 - 1.28 - -
Impairment Charge		 3.63 12 75 1.80 0.00
Total Other Income / (Expense), net		 0.00 -1.78 0.00 0.85 -11
Income Tax Expense		 -14 -0.40 -17 21 0.17
Basic Earnings per Share		 ($0.13) ($0.42) ($0.85) $0.14 ($0.19)
Weighted Average Basic Shares Outstanding		 414.67M 262.24M 207.78M 157.65M 84.92M
Diluted Earnings per Share		 ($0.13) ($0.42) ($0.85) $0.13 ($0.19)
Weighted Average Diluted Shares Outstanding		 479.33M 262.24M 207.78M 169.39M 84.92M
Weighted Average Basic & Diluted Shares Outstanding		 414.67M 334.15M 207.78M 194.81M -

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 2024 2023 2022 2021 2020
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Net Change in Cash & Equivalents		 396 134 -95 -129 2.56
Net Cash From Operating Activities		 103 52 -197 -75 6.54
Net Cash From Continuing Operating Activities		 103 52 -197 -75 6.54
Net Income / (Loss) Continuing Operations		 -54 -109 -176 22 -16
Consolidated Net Income / (Loss)		 -54 -109 -176 22 -16
Depreciation Expense		 141 85 72 24 11
Non-Cash Adjustments To Reconcile Net Income		 30 76 -72 -235 11
Changes in Operating Assets and Liabilities, net		 -14 -0.40 -21 113 0.55
Net Cash From Investing Activities		 5.46 3.11 135 -107 -3.57
Net Cash From Continuing Investing Activities		 5.46 3.11 135 -107 -3.57
Sale of Property, Plant & Equipment		 5.46 3.11 11 1.11 0.88
Net Cash From Financing Activities		 287 79 -24 54 -0.40
Net Cash From Continuing Financing Activities		 287 79 -24 54 -0.40
Repayment of Debt		 -4.14 -31 -131 -20 -0.49
Issuance of Debt		 1.70 0.00 107 74 0.08
Issuance of Common Equity		 290 109 - - -
Cash Interest Received		 5.65 1.79 - - -

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 2024 2023 2022 2021 2020
Period end date 12/31/2024 12/31/2023 12/31/2022 1/1/2022 12/31/2020
Total Assets		 668 379 343 543 52
Total Current Assets		 62 130 69 127 9.17
Cash & Equivalents		 60 84 31 126 5.95
Accounts Receivable		 1.26 0.71 0.70 1.04 1.10
Inventories, net		 1.18 - 1.22 - 0.00
Current Deferred & Refundable Income Taxes		 0.42 0.00 12 0.00 -
Plant, Property, & Equipment, net		 349 186 219 137 36
Total Noncurrent Assets		 257 105 68 279 6.74
Intangible Assets		 4.04 3.70 0.03 1.68 0.38
Noncurrent Deferred & Refundable Income Taxes		 0.00 0.00 0.00 3.90 0.00
Other Noncurrent Operating Assets		 247 100 67 255 6.37
Other Noncurrent Nonoperating Assets		 5.92 1.39 - 1.21 -
Total Liabilities & Shareholders' Equity		 668 379 343 902 52
Total Liabilities		 60 84 88 184 36
Total Current Liabilities		 36 69 67 105 28
Short-Term Debt		 0.15 4.02 43 10 17
Accounts Payable		 26 21 21 14 2.70
Other Taxes Payable		 0.00 - - 12 -
Other Current Liabilities		 10 43 3.82 68 3.63
Total Noncurrent Liabilities		 23 1.82 20 79 7.78
Long-Term Debt		 1.43 0.00 4.09 61 0.17
Asset Retirement Reserve & Litigation Obligation		 2.11 1.82 1.98 0.24 0.21
Noncurrent Deferred & Payable Income Tax Liabilities		 0.07 0.00 0.00 8.45 0.00
Other Noncurrent Operating Liabilities		 20 - - 9.23 -
Total Equity & Noncontrolling Interests		 608 295 255 718 15
Total Preferred & Common Equity		 608 295 255 718 15
Total Common Equity		 608 295 255 718 9.86
Common Stock		 852 535 405 355 32
Retained Earnings		 -335 -300 -197 -22 -22
Other Equity Adjustments		 90 60 48 385 -

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 2024 2023 2022 2021 2020
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Growth Metrics		 - - - - -
Revenue Growth		 31.78% 2.76% -15.97% 388.40% 0.00%
EBITDA Growth		 207.08% 105.14% -337.85% 2,585.30% 0.00%
EBIT Growth		 -45.54% 73.98% -540.43% 889.04% 0.00%
NOPAT Growth		 -49.13% 74.60% -701.90% 801.05% 0.00%
Net Income Growth		 50.37% 37.99% -463.78% 396.41% 0.00%
EPS Growth		 69.05% 50.59% -753.85% 168.42% 0.00%
Operating Cash Flow Growth		 98.38% 126.40% -160.77% -1,253.27% 0.00%
Free Cash Flow Firm Growth		 -4,034.92% 105.52% 22.14% 0.00% 0.00%
Invested Capital Growth		 141.43% -21.16% -5.77% 709.83% 0.00%
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		 -16.78% -14.69% 7.38% 65.56% 8.28%
EBITDA Margin		 17.32% 7.43% -148.57% 52.49% 9.55%
Operating Margin		 -55.77% -49.28% -199.41% 37.55% -19.40%
EBIT Margin		 -55.77% -50.49% -199.41% 38.05% -23.55%
Profit (Net Income) Margin		 -28.03% -74.42% -123.32% 28.49% -46.94%
Tax Burden Percent		 79.09% 99.63% 90.98% 113.24% 101.07%
Interest Burden Percent		 63.55% 147.92% 67.97% 66.12% 197.20%
Effective Tax Rate		 0.00% 0.00% 0.00% 48.10% 0.00%
Return on Invested Capital (ROIC)		 -19.57% -19.75% -67.48% 19.38% -12.58%
ROIC Less NNEP Spread (ROIC-NNEP)		 -51.43% 280.53% -79.54% 11.61% -65.17%
Return on Net Nonoperating Assets (RNNOA)		 7.59% -19.84% 31.39% -6.22% -92.87%
Return on Equity (ROE)		 -11.98% -39.60% -36.09% 13.17% -105.45%
Cash Return on Invested Capital (CROIC)		 -102.42% 3.92% -61.54% -136.65% 0.00%
Operating Return on Assets (OROA)		 -20.56% -20.48% -64.14% 21.70% -15.81%
Return on Assets (ROA)		 -10.33% -30.18% -39.66% 16.25% -31.50%
Return on Common Equity (ROCE)		 -11.98% -39.60% -36.09% 13.07% -67.30%
Return on Equity Simple (ROE_SIMPLE)		 -8.89% -36.95% -68.77% 6.72% -105.45%
Net Operating Profit after Tax (NOPAT)		 -75 -50 -199 33 -4.71
NOPAT Margin		 -39.04% -34.50% -139.59% 19.49% -13.58%
Net Nonoperating Expense Percent (NNEP)		 31.86% -300.28% 12.06% 7.77% 52.59%
Return On Investment Capital (ROIC_SIMPLE)		 -12.35% -16.90% - - -
Cost of Revenue to Revenue		 116.78% 114.69% 92.62% 34.44% 91.72%
SG&A Expenses to Revenue		 36.93% 26.85% 36.16% 25.51% 23.77%
R&D to Revenue		 0.17% 0.00% 0.90% 0.00% 0.00%
Operating Expenses to Revenue		 38.99% 35.22% 89.87% 25.48% 23.77%
Earnings before Interest and Taxes (EBIT)		 -108 -74 -284 64 -8.17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 33 11 -212 89 3.31
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 0.82 2.21 0.34 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.82 2.24 0.34 0.00 0.00
Price to Revenue (P/Rev)		 2.58 4.46 0.60 0.00 0.00
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)		 0.81 2.54 0.41 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 2.28 3.91 0.82 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 13.17 52.62 0.00 0.00 0.00
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)		 4.27 11.02 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 57.16 0.00 0.00 0.00
Leverage & Solvency		 - - - - -
Debt to Equity		 0.00 0.01 0.24 0.10 1.60
Long-Term Debt to Equity		 0.00 0.00 0.07 0.08 0.49
Financial Leverage		 -0.15 -0.07 -0.39 -0.54 1.43
Leverage Ratio		 1.16 1.31 0.91 0.81 3.35
Compound Leverage Factor		 0.74 1.94 0.62 0.54 6.60
Debt to Total Capital		 0.26% 1.35% 19.37% 9.02% 61.56%
Short-Term Debt to Total Capital		 0.02% 1.35% 13.59% 1.30% 42.73%
Long-Term Debt to Total Capital		 0.23% 0.00% 5.78% 7.72% 18.84%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 13.90%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 99.74% 98.65% 80.63% 90.98% 24.53%
Debt to EBITDA		 0.05 0.37 -0.29 0.80 7.47
Net Debt to EBITDA		 -1.74 -7.36 -0.14 -0.61 5.24
Long-Term Debt to EBITDA		 0.04 0.00 -0.09 0.68 2.29
Debt to NOPAT		 -0.02 -0.08 -0.31 2.15 -5.25
Net Debt to NOPAT		 0.77 1.58 -0.15 -1.65 -3.68
Long-Term Debt to NOPAT		 -0.02 0.00 -0.09 1.84 -1.61
Altman Z-Score		 4.11 3.49 -2.53 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.76% 36.18%
Liquidity Ratios		 - - - - -
Current Ratio		 1.72 1.88 1.02 1.21 0.32
Quick Ratio		 1.68 1.23 0.47 1.21 0.30
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 -394 10 -181 -233 0.00
Operating Cash Flow to CapEx		 0.00% 0.00% -291.66% -70.44% 182.96%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.70
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.32
Efficiency Ratios		 - - - - -
Asset Turnover		 0.37 0.41 0.32 0.57 0.67
Accounts Receivable Turnover		 195.52 206.88 163.80 158.33 31.46
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.72 0.72 0.80 1.96 0.97
Accounts Payable Turnover		 9.66 8.13 7.53 6.80 11.81
Days Sales Outstanding (DSO)		 1.87 1.76 2.23 2.31 11.60
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 37.78 44.88 48.45 53.70 30.92
Cash Conversion Cycle (CCC)		 -35.92 -43.11 -46.22 -51.40 -19.31
Capital & Investment Metrics		 - - - - -
Invested Capital		 544 225 286 303 37
Invested Capital Turnover		 0.50 0.57 0.48 0.99 0.93
Increase / (Decrease) in Invested Capital		 319 -61 -17 266 0.00
Enterprise Value (EV)		 440 572 116 0.00 0.00
Market Capitalization		 498 652 86 0.00 0.00
Book Value per Share		 $1.47 $1.31 $1.31 $4.55 $0.12
Tangible Book Value per Share		 $1.46 $1.30 $1.31 $4.44 $0.11
Total Capital		 610 299 317 789 40
Total Debt		 1.58 4.02 61 71 25
Total Long-Term Debt		 1.43 0.00 18 61 7.57
Net Debt		 -58 -80 30 -54 17
Capital Expenditures (CapEx)		 -5.46 -3.11 67 107 3.57
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -33 -19 14 -93 -9.53
Debt-free Net Working Capital (DFNWC)		 26 65 45 32 -2.14
Net Working Capital (NWC)		 26 61 1.68 22 -19
Net Nonoperating Expense (NNE)		 -21 58 -23 -15 12
Net Nonoperating Obligations (NNO)		 -64 -69 30 -415 22
Total Depreciation and Amortization (D&A)		 141 85 72 24 11
Debt-free, Cash-free Net Working Capital to Revenue		 -17.24% -13.11% 9.72% -55.14% -27.47%
Debt-free Net Working Capital to Revenue		 13.63% 44.31% 31.40% 18.96% -6.16%
Net Working Capital to Revenue		 13.55% 41.56% 1.18% 12.91% -55.64%
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 ($0.13) $0.00 $0.00 $0.14 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 414.67M 0.00 224.20M 157.65M 0.00
Adjusted Diluted Earnings per Share		 ($0.13) $0.00 $0.00 $0.13 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 479.33M 0.00 224.20M 169.39M 0.00
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 414.67M 0.00 415.55M 194.81M 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 -73 -42 -146 34 -4.71
Normalized NOPAT Margin		 -37.72% -28.64% -102.62% 20.04% -13.58%
Pre Tax Income Margin		 -35.44% -74.69% -135.55% 25.16% -46.44%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 -0.87
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 -0.50
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -1.25
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -0.88
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 fiscal year end?

According to the most recent income statement we have on file, Bitfarms' financial year ends in December. Their financial 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. View Bitfarms' forecast to see where analysts expect Bitfarms to go next.

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 5/30/2025 by MarketBeat.com Staff
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