Bitfarms Reports 31% Increase in BTC Earned in March, Surpassing 280 BTC for the Month

Bitfarms Ltd. (TSX:BITF), a global energy and compute infrastructure company, today issued its latest monthly production report. All financial references are in U.S. dollars.

CEO Ben Gagnon stated, "March was a very productive month for Bitfarms. We successfully closed both our transformative acquisition of Stronghold Digital Mining, the largest M&A deal between two public miners in our industry, and the strategic sale of our 200 MW Yguazu data center. Through these transactions, we have rebalanced our portfolio to the U.S. where we expect to achieve greater yields per MW, reduced our average cost of power across our portfolio, minimized our 2025 capex requirements, and secured highly desirable sites that will enable us to diversify beyond Bitcoin mining into HPC/AI and energy generation.

"In addition, we advanced our HPC/AI strategy with both the appointments of James Bond, SVP of HPC, and Craig Hibbard, SVP of Infrastructure, and the continued evaluation of our three Pennsylvania sites for potential HPC conversion. Initial studies from our strategic partners confirmed that all three sites are well-suited: they are strategically located near other data center campuses and peering hubs and they have the necessary power, land and fiber infrastructure to support HPC. We expect to receive full, detailed feasibility studies in Q2. With the steps we've taken in Q1, we now have the properties, internal team, and strategic engineering and marketing advisors in place, taking a holistic approach to advancing our HPC/AI business."

SVP of Global Mining Operations Alex Brammer said, "During March we grew our operational hashrate 21% to 19.5 EHuM and reached our Q2 efficiency target of 19 w/TH three months ahead of schedule. Our energy portfolio is now larger and more efficient, with stronger operating economics and significant U.S. growth potential."

March 2025 Select Operating Highlights

Key Performance Indicators	March 2025 (proforma)	February 2025
Total BTC earned	280	213
Month End Operating EHuM	19.5	16.1
BTC/Avg. EH/s	17	16
Average Operating EHuM	16.4	13.4
Energized Capacity (MW)	461	437
Watts/Terahash Efficiency (w/TH)	19	20

 

• 19.5 EHuM operational at March 31, 2025, up 21% M/M.
• 16.4 EHuM average operational, up 22% M/M.
• 17 BTC/average EHuM, 6% higher M/M.
• 280 BTC earned on a proforma basis, 31% higher M/M.
• 9.0 BTC earned daily on average, equal to ~$738,000 per day based on a BTC price of $82,000 at March 31, 2025.
  
   

March 2025 Financial Update

• Total liquidity of $132 million, including approximately $39 million in cash at March 31, 2025.
• Treasury of 1,140 BTC, down from 1,260 BTC last month and representing $93.4 million based on the Bitcoin price of $82,000 at March 31, 2025.