According to Bitfarms' latest financial report, its Q4 2024 revenue was $56 million, a year-on-year increase of 21%; The management computing power (EHuM) has reached 18.6 EH/s, an increase of 186%; Energy efficiency has been increased to 19 w/TH, a 45% improvement. The company has completed the acquisition of Stronghold Digital Mining and sold the Yguazu 200 MW data center in Paraguay, with a total energy reserve of approximately 1.4 GW, of which 80% is located in the United States.
CEO Ben Gagnon stated: Bitfarms has transformed into a North American energy and computing company, focusing on HPC/AI business and continuously optimizing asset allocation in the future. CFO Jeff Lucas added that this acquisition and sale will reduce capital expenditure requirements by 20% in 2025, which will help improve cash flow and operating profit margins. As of March 26, 2025, the company holds 1093 BTC with a total working capital of approximately $135 million.
