Bitfarms (BITF) Financials

$4.81 +0.17 (+3.66%)

As of 05/22/2026

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	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-33	48	-100	-56	-28	-285
Consolidated Net Income / (Loss)	-16	48	-176	-56	-28	-285
Net Income / (Loss) Continuing Operations	-16	48	-100	-40	-7.36	-209
Total Pre-Tax Income	-16	43	-193	-40	-7.01	-208
Total Operating Income	-6.73	64	-284	-50	-28	-150
Total Gross Profit	2.87	111	11	-24	-16	-19
Total Revenue	35	169	142	120	133	229
Operating Revenue	35	169	142	120	133	229
Total Cost of Revenue	32	58	132	144	149	248
Operating Cost of Revenue	32	-	132	144	149	248
Total Operating Expenses	8.25	43	128	42	65	108
Selling, General & Admin Expense	8.25	43	52	34	62	78
Impairment Charge	0.00	1.80	75	5.60	3.63	28
Other Special Charges / (Income)	-	-	-	2.06	-0.23	1.61
Total Other Income / (Expense), net	-11	0.85	0.00	25	74	-81
Interest Expense	9.39	-	-	-11	-5.29	2.34
Other Income / (Expense), net	-1.44	0.85	-	14	69	-79
Income Tax Expense	0.17	21	-17	-0.15	0.35	0.10
Net Income / (Loss) Discontinued Operations	-	-	-	-16	-21	-76
Basic Earnings per Share	($0.19)	$0.14	($0.85)	($0.21)	($0.07)	($0.52)
Weighted Average Basic Shares Outstanding	84.92M	157.65M	207.78M	262.24M	414.67M	551.68M
Diluted Earnings per Share	($0.19)	$0.13	($0.85)	($0.21)	($0.07)	($0.52)
Weighted Average Diluted Shares Outstanding	84.92M	169.39M	207.78M	262.24M	414.67M	551.68M

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

Metric	Q1 2025	Q1 2026
Period end date	3/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-56	-145
Consolidated Net Income / (Loss)	-56	-145
Net Income / (Loss) Continuing Operations	-38	-128
Total Pre-Tax Income	-38	-128
Total Operating Income	-35	-98
Total Gross Profit	0.28	-26
Total Revenue	48	37
Operating Revenue	48	37
Total Cost of Revenue	47	63
Operating Cost of Revenue	47	63
Total Operating Expenses	17	29
Selling, General & Admin Expense	18	27
Impairment Charge	0.00	1.99
Other Special Charges / (Income)	-0.56	0.00
Total Other Income / (Expense), net	-21	-72
Interest Expense	-0.62	21
Other Income / (Expense), net	-22	-51
Income Tax Expense	0.22	-0.00
Net Income / (Loss) Discontinued Operations	-17	-18
Basic Earnings per Share	($0.11)	($0.24)
Weighted Average Basic Shares Outstanding	500.16M	602.58M
Diluted Earnings per Share	($0.11)	($0.24)
Weighted Average Diluted Shares Outstanding	500.16M	602.58M
Weighted Average Basic & Diluted Shares Outstanding	-	603.83M

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	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	2.56	-129	-95	54	-19	586
Net Cash From Operating Activities	6.54	-75	-197	-107	-142	-227
Net Cash From Continuing Operating Activities	6.54	-75	-197	-105	-138	-225
Net Income / (Loss) Continuing Operations	-16	22	-176	-56	-28	-285
Consolidated Net Income / (Loss)	-16	22	-176	-56	-28	-285
Depreciation Expense	11	24	72	84	135	123
Non-Cash Adjustments To Reconcile Net Income	11	-235	-72	-136	-238	-64
Changes in Operating Assets and Liabilities, net	0.55	113	-21	2.73	-7.48	1.11
Net Cash From Discontinued Operating Activities	-	-	-	-1.11	2.13	13
Net Cash From Investing Activities	-3.57	-107	135	71	-178	104
Net Cash From Continuing Investing Activities	-3.57	-107	135	71	-178	104
Purchase of Property, Plant & Equipment	-4.45	-108	-78	-48	-287	-100
Acquisitions	-	-	-	-2.39	0.00	-55
Purchase of Investments	-	-	-	-36	-36	-188
Sale of Property, Plant & Equipment	0.88	1.11	11	132	158	198
Divestitures	-	-	-	0.00	0.00	63
Sale and/or Maturity of Investments	-	-	202	49	56	207
Other Investing Activities, net	-	-	-	-23	-69	-20
Net Cash From Financing Activities	-0.40	54	-24	89	296	694
Net Cash From Continuing Financing Activities	-0.40	54	-24	89	296	694
Repayment of Debt	-0.49	-20	-131	-33	-5.22	-1.61
Repurchase of Common Equity	-	-	-	0.00	0.00	-9.95
Issuance of Debt	0.08	74	107	0.00	1.70	666
Issuance of Common Equity	-	-	-	109	290	73
Other Financing Activities, net	-	-	0.02	13	9.60	-33
Cash Interest Paid	4.25	3.98	18	14	1.74	1.26
Cash Income Taxes Paid	-	-	15	-12	1.51	0.43

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

Metric	Q1 2025	Q1 2026
Period end date	3/31/2025	3/31/2026
Net Change in Cash & Equivalents	-21	-233
Net Cash From Operating Activities	-19	-65
Net Cash From Continuing Operating Activities	-19	-64
Net Income / (Loss) Continuing Operations	-56	-145
Consolidated Net Income / (Loss)	-56	-145
Depreciation Expense	28	28
Non-Cash Adjustments To Reconcile Net Income	-21	62
Changes in Operating Assets and Liabilities, net	29	-8.48
Net Cash From Discontinued Operating Activities	-1.86	0.62
Net Cash From Investing Activities	-26	-55
Net Cash From Continuing Investing Activities	-26	-55
Purchase of Property, Plant & Equipment	-43	-10
Acquisitions	-48	0.00
Purchase of Investments	-37	-0.97
Sale of Property, Plant & Equipment	39	5.92
Divestitures	32	0.00
Sale and/or Maturity of Investments	35	2.39
Other Investing Activities, net	-4.48	-52
Net Cash From Financing Activities	24	-113
Net Cash From Continuing Financing Activities	24	-113
Repayment of Debt	-0.04	-114
Issuance of Common Equity	24	0.00
Other Financing Activities, net	0.00	0.45
Cash Interest Paid	0.65	3.58
Cash Interest Received	0.41	2.73
Cash Income Taxes Paid	0.08	-0.01

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	2025
Period end date	12/31/2020	1/1/2022	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	52	543	343	379	663	1,296
Total Current Assets	9.17	127	69	130	214	826
Cash & Equivalents	5.95	126	31	84	60	573
Restricted Cash	-	-	-	-	33	5.56
Accounts Receivable	1.10	1.04	0.70	0.71	1.26	5.47
Inventories, net	0.00	-	1.22	-	1.14	8.68
Other Current Assets	0.67	-	11	1.49	7.70	24
Other Current Nonoperating Assets	-	-	-	-	9.42	29
Plant, Property, & Equipment, net	36	137	219	186	259	369
Total Noncurrent Assets	6.74	279	68	105	278	281
Noncurrent Note & Lease Receivables	-	-	-	-	2.28	2.13
Intangible Assets	0.38	1.68	0.03	3.70	-	2.98
Noncurrent Deferred & Refundable Income Taxes	0.00	3.90	0.00	0.00	-	0.00
Other Noncurrent Operating Assets	6.37	255	67	100	271	276
Total Liabilities & Shareholders' Equity	52	902	343	379	663	1,296
Total Liabilities	36	184	88	84	52	736
Total Current Liabilities	28	105	67	69	28	148
Short-Term Debt	17	10	43	4.02	0.15	97
Accounts Payable	2.70	14	21	21	26	46
Other Current Liabilities	3.63	68	3.82	43	2.22	4.65
Total Noncurrent Liabilities	7.78	79	20	1.82	24	588
Long-Term Debt	0.17	61	4.09	0.00	1.43	572
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	8.45	0.00	0.00	0.07	0.07
Other Noncurrent Operating Liabilities	-	9.23	-	-	22	15
Commitments & Contingencies	-	-	-	-	0.00	0.00
Total Equity & Noncontrolling Interests	15	718	255	295	611	560
Total Preferred & Common Equity	15	718	255	295	611	560
Total Common Equity	9.86	718	255	295	611	560
Common Stock	32	355	405	535	939	1,173
Retained Earnings	-22	-22	-197	-300	-328	-612

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

Metric	Q1 2026
Period end date	3/31/2026
Total Assets	1,067
Total Current Assets	576
Cash & Equivalents	357
Restricted Cash	0.00
Accounts Receivable	5.36
Inventories, net	10
Other Current Assets	20
Other Current Nonoperating Assets	14
Plant, Property, & Equipment, net	359
Total Noncurrent Assets	300
Noncurrent Note & Lease Receivables	2.04
Intangible Assets	3.03
Noncurrent Deferred & Refundable Income Taxes	0.95
Other Noncurrent Operating Assets	294
Total Liabilities & Shareholders' Equity	1,067
Total Liabilities	648
Total Current Liabilities	60
Short-Term Debt	4.24
Accounts Payable	54
Other Current Liabilities	1.79
Total Noncurrent Liabilities	588
Long-Term Debt	573
Capital Lease Obligations	1.74
Noncurrent Deferred & Payable Income Tax Liabilities	0.07
Other Noncurrent Operating Liabilities	13
Commitments & Contingencies	0.00
Total Equity & Noncontrolling Interests	419
Total Preferred & Common Equity	419
Total Common Equity	419
Common Stock	1,177
Retained Earnings	-758

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	334,153,000.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	334,153,000.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-0.85
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	388.40%	-15.97%	2.76%	31.78%	72.03%
EBITDA Growth	0.00%	2,585.30%	-337.85%	105.14%	207.08%	-159.97%
EBIT Growth	0.00%	889.04%	-540.43%	73.98%	-45.54%	-658.13%
NOPAT Growth	0.00%	801.05%	-701.90%	74.60%	-49.13%	-434.02%
Net Income Growth	0.00%	396.41%	-463.78%	37.99%	50.37%	-903.15%
EPS Growth	0.00%	168.42%	-753.85%	50.59%	69.05%	-642.86%
Operating Cash Flow Growth	0.00%	-1,253.27%	-160.77%	126.40%	98.38%	-59.90%
Free Cash Flow Firm Growth	0.00%	0.00%	22.14%	105.52%	-4,034.92%	29.65%
Invested Capital Growth	0.00%	709.83%	-5.77%	-21.16%	141.43%	21.52%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	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%	0.00%
EPS Q/Q Growth	0.00%	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%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	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%	0.00%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	8.28%	65.56%	7.38%	-14.69%	-16.78%	-8.25%
EBITDA Margin	9.55%	52.49%	-148.57%	7.43%	17.32%	-46.12%
Operating Margin	-19.40%	37.55%	-199.41%	-49.28%	-55.77%	-65.25%
EBIT Margin	-23.55%	38.05%	-199.41%	-50.49%	-55.77%	-99.61%
Profit (Net Income) Margin	-46.94%	28.49%	-123.32%	-74.42%	-28.03%	-124.11%
Tax Burden Percent	101.07%	113.24%	90.98%	99.63%	79.09%	136.53%
Interest Burden Percent	197.20%	66.12%	67.97%	147.92%	63.55%	91.26%
Effective Tax Rate	0.00%	48.10%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-12.58%	19.38%	-67.48%	-19.75%	-19.57%	-18.50%
ROIC Less NNEP Spread (ROIC-NNEP)	-65.17%	11.61%	-79.54%	280.53%	-51.43%	887.94%
Return on Net Nonoperating Assets (RNNOA)	-92.87%	-6.22%	31.39%	-19.84%	7.59%	-30.07%
Return on Equity (ROE)	-105.45%	13.17%	-36.09%	-39.60%	-11.98%	-48.58%
Cash Return on Invested Capital (CROIC)	0.00%	-136.65%	-61.54%	3.92%	-102.42%	-37.94%
Operating Return on Assets (OROA)	-15.81%	21.70%	-64.14%	-20.48%	-20.56%	-23.31%
Return on Assets (ROA)	-31.50%	16.25%	-39.66%	-30.18%	-10.33%	-29.04%
Return on Common Equity (ROCE)	-67.30%	13.07%	-36.09%	-39.60%	-11.98%	-48.58%
Return on Equity Simple (ROE_SIMPLE)	-105.45%	6.72%	-68.77%	-36.95%	-8.89%	0.00%
Net Operating Profit after Tax (NOPAT)	-4.71	33	-199	-50	-75	-105
NOPAT Margin	-13.58%	19.49%	-139.59%	-34.50%	-39.04%	-45.67%
Net Nonoperating Expense Percent (NNEP)	52.59%	7.77%	12.06%	-300.28%	31.86%	-906.44%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-16.90%	-12.35%	-8.51%
Cost of Revenue to Revenue	91.72%	34.44%	92.62%	114.69%	116.78%	108.25%
SG&A Expenses to Revenue	23.77%	25.51%	36.16%	26.85%	36.93%	34.17%
R&D to Revenue	0.00%	0.00%	0.90%	0.00%	0.17%	0.00%
Operating Expenses to Revenue	23.77%	25.48%	89.87%	35.22%	38.99%	47.28%
Earnings before Interest and Taxes (EBIT)	-8.17	64	-284	-74	-108	-228
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3.31	89	-212	11	33	-106
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.34	2.21	0.82	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.34	2.24	0.82	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.60	4.46	2.58	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	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	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.82	3.91	2.28	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	52.62	13.17	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	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	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	11.02	4.27	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	57.16	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	1.60	0.10	0.24	0.01	0.00	1.19
Long-Term Debt to Equity	0.49	0.08	0.07	0.00	0.00	1.02
Financial Leverage	1.43	-0.54	-0.39	-0.07	-0.15	-0.03
Leverage Ratio	3.35	0.81	0.91	1.31	1.16	1.67
Compound Leverage Factor	6.60	0.54	0.62	1.94	0.74	1.53
Debt to Total Capital	61.56%	9.02%	19.37%	1.35%	0.26%	54.44%
Short-Term Debt to Total Capital	42.73%	1.30%	13.59%	1.35%	0.02%	7.89%
Long-Term Debt to Total Capital	18.84%	7.72%	5.78%	0.00%	0.23%	46.55%
Preferred Equity to Total Capital	13.90%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	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%	45.56%
Debt to EBITDA	7.47	0.80	-0.29	0.37	0.05	-6.33
Net Debt to EBITDA	5.24	-0.61	-0.14	-7.36	-1.74	-0.84
Long-Term Debt to EBITDA	2.29	0.68	-0.09	0.00	0.04	-5.41
Debt to NOPAT	-5.25	2.15	-0.31	-0.08	-0.02	-6.39
Net Debt to NOPAT	-3.68	-1.65	-0.15	1.58	0.77	-0.85
Long-Term Debt to NOPAT	-1.61	1.84	-0.09	0.00	-0.02	-5.47
Altman Z-Score	0.00	0.00	-2.53	3.49	4.11	0.00
Noncontrolling Interest Sharing Ratio	36.18%	0.76%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.32	1.21	1.02	1.88	1.72	5.58
Quick Ratio	0.30	1.21	0.47	1.23	1.68	3.91
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-233	-181	10	-394	-215
Operating Cash Flow to CapEx	182.96%	-70.44%	-291.66%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	-91.95
Operating Cash Flow to Interest Expense	0.70	0.00	0.00	0.00	0.00	-97.04
Operating Cash Flow Less CapEx to Interest Expense	0.32	0.00	0.00	0.00	0.00	-55.34
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.67	0.57	0.32	0.41	0.37	0.23
Accounts Receivable Turnover	31.46	158.33	163.80	206.88	195.52	68.14
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	50.58
Fixed Asset Turnover	0.97	1.96	0.80	0.72	0.72	0.73
Accounts Payable Turnover	11.81	6.80	7.53	8.13	9.66	6.87
Days Sales Outstanding (DSO)	11.60	2.31	2.23	1.76	1.87	5.36
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	7.22
Days Payable Outstanding (DPO)	30.92	53.70	48.45	44.88	37.78	53.12
Cash Conversion Cycle (CCC)	-19.31	-51.40	-46.22	-43.11	-35.92	-40.55
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	37	303	286	225	544	621
Invested Capital Turnover	0.93	0.99	0.48	0.57	0.50	0.41
Increase / (Decrease) in Invested Capital	0.00	266	-17	-61	319	110
Enterprise Value (EV)	0.00	0.00	116	572	440	0.00
Market Capitalization	0.00	0.00	86	652	498	0.00
Book Value per Share	$0.12	$4.55	$1.31	$1.31	$1.47	$1.02
Tangible Book Value per Share	$0.11	$4.44	$1.31	$1.30	$1.46	$1.01
Total Capital	40	789	317	299	610	1,230
Total Debt	25	71	61	4.02	1.58	669
Total Long-Term Debt	7.57	61	18	0.00	1.43	572
Net Debt	17	-54	30	-80	-58	89
Capital Expenditures (CapEx)	3.57	107	67	-3.11	-5.46	-97
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-9.53	-93	14	-19	-33	196
Debt-free Net Working Capital (DFNWC)	-2.14	32	45	65	26	775
Net Working Capital (NWC)	-19	22	1.68	61	26	678
Net Nonoperating Expense (NNE)	12	-15	-23	58	-21	180
Net Nonoperating Obligations (NNO)	22	-415	30	-69	-64	61
Total Depreciation and Amortization (D&A)	11	24	72	85	141	123
Debt-free, Cash-free Net Working Capital to Revenue	-27.47%	-55.14%	9.72%	-13.11%	-17.24%	85.64%
Debt-free Net Working Capital to Revenue	-6.16%	18.96%	31.40%	44.31%	13.63%	338.18%
Net Working Capital to Revenue	-55.64%	12.91%	1.18%	41.56%	13.55%	295.87%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.14	$0.00	$0.00	($0.13)	($0.52)
Adjusted Weighted Average Basic Shares Outstanding	0.00	157.65M	224.20M	0.00	414.67M	551.68M
Adjusted Diluted Earnings per Share	$0.00	$0.13	$0.00	$0.00	($0.13)	($0.52)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	169.39M	224.20M	0.00	479.33M	551.68M
Adjusted Basic & Diluted Earnings per Share	$0.00	$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	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-4.71	34	-146	-42	-73	-84
Normalized NOPAT Margin	-13.58%	20.04%	-102.62%	-28.64%	-37.72%	-36.50%
Pre Tax Income Margin	-46.44%	25.16%	-135.55%	-74.69%	-35.44%	-90.90%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-0.87	0.00	0.00	0.00	0.00	-97.81
NOPAT to Interest Expense	-0.50	0.00	0.00	0.00	0.00	-44.85
EBIT Less CapEx to Interest Expense	-1.25	0.00	0.00	0.00	0.00	-56.11
NOPAT Less CapEx to Interest Expense	-0.88	0.00	0.00	0.00	0.00	-3.15
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-3.50%

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

Metric	Q1 2025	Q1 2026
Period end date	3/31/2025	3/31/2026
DEI Shares Outstanding	334,153,000.00	334,153,000.00
DEI Adjusted Shares Outstanding	334,153,000.00	334,153,000.00
DEI Earnings Per Adjusted Shares Outstanding	-0.17	-0.44
Growth Metrics	-	-
Revenue Growth	0.00%	-22.37%
EBITDA Growth	0.00%	-327.51%
EBIT Growth	0.00%	-162.85%
NOPAT Growth	0.00%	-182.39%
Net Income Growth	0.00%	-161.65%
EPS Growth	0.00%	-118.18%
Operating Cash Flow Growth	0.00%	-243.33%
Free Cash Flow Firm Growth	0.00%	0.00%
Invested Capital Growth	0.00%	0.00%
Revenue Q/Q Growth	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%
Profitability Metrics	-	-
Gross Margin	0.58%	-71.11%
EBITDA Margin	-59.73%	-328.91%
Operating Margin	-73.12%	-265.97%
EBIT Margin	-119.25%	-403.77%
Profit (Net Income) Margin	-116.58%	-392.93%
Tax Burden Percent	145.61%	113.93%
Interest Burden Percent	67.14%	85.41%
Effective Tax Rate	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-129.83%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-203.43%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-100.88%
Return on Equity (ROE)	0.00%	-230.71%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-82.75%
Return on Assets (ROA)	0.00%	-80.53%
Return on Common Equity (ROCE)	0.00%	-230.71%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-24	-69
NOPAT Margin	-51.18%	-186.18%
Net Nonoperating Expense Percent (NNEP)	0.00%	73.59%
Return On Investment Capital (ROIC_SIMPLE)	-	-6.90%
Cost of Revenue to Revenue	99.42%	171.11%
SG&A Expenses to Revenue	36.97%	72.55%
R&D to Revenue	0.00%	0.00%
Operating Expenses to Revenue	35.80%	77.92%
Earnings before Interest and Taxes (EBIT)	-57	-149
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-28	-122
Valuation Ratios	-	-
Price to Book Value (P/BV)	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00
Price to Earnings (P/E)	0.00	0.00
Dividend Yield	0.00%	0.00%
Earnings Yield	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00
Leverage & Solvency	-	-
Debt to Equity	0.00	1.38
Long-Term Debt to Equity	0.00	1.37
Financial Leverage	0.00	0.50
Leverage Ratio	0.00	2.55
Compound Leverage Factor	0.00	2.17
Debt to Total Capital	0.00%	58.02%
Short-Term Debt to Total Capital	0.00%	0.42%
Long-Term Debt to Total Capital	0.00%	57.59%
Preferred Equity to Total Capital	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%
Common Equity to Total Capital	0.00%	41.98%
Debt to EBITDA	0.00	-2.91
Net Debt to EBITDA	0.00	-1.12
Long-Term Debt to EBITDA	0.00	-2.89
Debt to NOPAT	0.00	-3.88
Net Debt to NOPAT	0.00	-1.49
Long-Term Debt to NOPAT	0.00	-3.85
Altman Z-Score	0.00	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%
Liquidity Ratios	-	-
Current Ratio	0.00	9.60
Quick Ratio	0.00	6.05
Cash Flow Metrics	-	-
Free Cash Flow to Firm (FCFF)	0.00	-696
Operating Cash Flow to CapEx	-478.81%	-1,467.16%
Free Cash Flow to Firm to Interest Expense	0.00	-32.41
Operating Cash Flow to Interest Expense	0.00	-3.01
Operating Cash Flow Less CapEx to Interest Expense	0.00	-3.22
Efficiency Ratios	-	-
Asset Turnover	0.00	0.20
Accounts Receivable Turnover	0.00	40.81
Inventory Turnover	0.00	25.37
Fixed Asset Turnover	0.00	0.61
Accounts Payable Turnover	0.00	4.90
Days Sales Outstanding (DSO)	0.00	8.94
Days Inventory Outstanding (DIO)	0.00	14.39
Days Payable Outstanding (DPO)	0.00	74.50
Cash Conversion Cycle (CCC)	0.00	-51.17
Capital & Investment Metrics	-	-
Invested Capital	0.00	627
Invested Capital Turnover	0.00	0.70
Increase / (Decrease) in Invested Capital	0.00	627
Enterprise Value (EV)	0.00	0.00
Market Capitalization	0.00	0.00
Book Value per Share	$0.00	$0.70
Tangible Book Value per Share	$0.00	$0.69
Total Capital	0.00	998
Total Debt	0.00	579
Total Long-Term Debt	0.00	575
Net Debt	0.00	222
Capital Expenditures (CapEx)	3.94	4.41
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	163
Debt-free Net Working Capital (DFNWC)	0.00	520
Net Working Capital (NWC)	0.00	516
Net Nonoperating Expense (NNE)	31	76
Net Nonoperating Obligations (NNO)	0.00	208
Total Depreciation and Amortization (D&A)	28	28
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	74.41%
Debt-free Net Working Capital to Revenue	0.00%	237.83%
Net Working Capital to Revenue	0.00%	235.89%
Earnings Adjustments	-	-
Adjusted Basic Earnings per Share	$0.00	($0.24)
Adjusted Weighted Average Basic Shares Outstanding	0.00	602.58M
Adjusted Diluted Earnings per Share	$0.00	($0.24)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	602.58M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	603.83M
Normalized Net Operating Profit after Tax (NOPAT)	-25	-67
Normalized NOPAT Margin	-52.00%	-182.42%
Pre Tax Income Margin	-80.06%	-344.88%
Debt Service Ratios	-	-
EBIT to Interest Expense	0.00	-6.96
NOPAT to Interest Expense	0.00	-3.21
EBIT Less CapEx to Interest Expense	0.00	-7.16
NOPAT Less CapEx to Interest Expense	0.00	-3.41
Payout Ratios	-	-
Dividend Payout Ratio	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%

Financials Breakdown Chart

Bitfarms Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Bitfarms' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Bitfarms' net income appears to be on an upward trend, with a most recent value of -$284.54 million in 2025, rising from -$16.29 million in 2020. The previous period was -$28.37 million in 2024. Find out what analysts predict for Bitfarms in the coming months.

Bitfarms' total operating income in 2025 was -$149.60 million, based on the following breakdown:

Total Gross Profit: -$18.90 million
Total Operating Expenses: $108.39 million

Over the last 5 years, Bitfarms' total revenue changed from $34.70 million in 2020 to $229.28 million in 2025, a change of 560.7%.

Bitfarms' total liabilities were at $735.97 million at the end of 2025, a 1,315.7% increase from 2024, and a 1,929.9% increase since 2020.

In the past 5 years, Bitfarms' cash and equivalents has ranged from $5.95 million in 2020 to $573.46 million in 2025, and is currently $573.46 million as of their latest financial filing in 2025.

Over the last 5 years, Bitfarms' book value per share changed from 0.12 in 2020 to 1.02 in 2025, a change of 774.9%.

Related Companies

Financial statements for NASDAQ:BITF last updated on 5/14/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Bitfarms (BITF) Financials

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Bitfarms Financials - Frequently Asked Questions

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Bitfarms (BITF) Financials

Annual Income Statements for Bitfarms

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Bitfarms Financials - Frequently Asked Questions

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