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Bitfarms Ltd

Financial Services CA BITF

2.51CAD
-0.09(3.46%)

Last update at 2024-12-19T17:40:00Z

Day Range

2.502.73
LowHigh

52 Week Range

1.375.25
LowHigh

Fundamentals

  • Previous Close 2.60
  • Market Cap1442.03M
  • Volume2386018
  • P/E Ratio-
  • Dividend Yield-%
  • EBITDA53.19M
  • Revenue TTM172.70M
  • Revenue Per Share TTM0.53
  • Gross Profit TTM 10.52M
  • Diluted EPS TTM-0.5

Financials

Income Statement

Balancesheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Income before tax -256.46200M 42.64M -16.11700M -0.48400M -18.17700M
Minority interest - - 0.00000M 0.79M 8.87M
Net income -239.05000M 22.13M -16.28900M 2.11M -9.36300M
Selling general administrative 51.51M 43.24M 3.35M 4.18M 8.54M
Selling and marketing expenses 0.33M 0.17M 0.04M 0.11M 0.27M
Gross profit -140.29200M 110.83M -1.90300M 5.44M 10.88M
Reconciled depreciation 72.42M 24.48M 11.49M 6.84M 12.55M
Ebit -284.02200M 37.35M -9.30600M 2.56M -9.12500M
Ebitda -95.24200M 61.82M 2.18M 9.41M 3.42M
Depreciation and amortization 188.78M 24.48M 11.49M 6.84M 12.55M
Non operating income net other - - - - -
Operating income -284.02200M 37.35M -9.30600M 2.56M -17.99800M
Other operating expenses 181.25M 106.47M 40.08M 31.28M 31.74M
Interest expense 14.22M 3.42M 6.10M 3.27M 0.18M
Tax provision -17.41200M 20.51M 0.17M -2.59100M 0.06M
Interest income 34.48M 2.08M 5.32M 1.22M 0.18M
Net interest income 27.56M -23.86400M -10.12100M -1.84900M -0.17900M
Extraordinary items - - - - -
Non recurring - - - - -
Other items - - - - -
Income tax expense -17.41200M 20.51M 0.17M -2.59100M 0.06M
Total revenue -8.38200M 169.20M 34.79M 32.42M 33.80M
Total operating expenses 49.34M 48.10M 3.39M 4.29M 8.81M
Cost of revenue 131.91M 58.37M 36.69M 26.98M 22.93M
Total other income expense net 27.56M 5.29M -6.81100M -3.04800M -0.17900M
Discontinued operations - - - - -
Net income from continuing ops -239.05000M 22.13M -16.28900M 2.11M -18.23600M
Net income applicable to common shares -239.05000M 22.13M -16.28900M 2.90M -9.36300M
Preferred stock and other adjustments - - - - -
Breakdown 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Total assets 378.73M 343.10M 542.59M 51.70M 52.86M
Intangible assets 3.70M 0.03M 1.68M 0.38M 0.68M
Earning assets - - - - -
Other current assets 11.16M 16.29M 91.56M 1.65M 0.56M
Total liab 83.96M 87.53M 120.00M 36.26M 24.77M
Total stockholder equity 294.76M 255.57M 422.58M 15.45M 28.09M
Deferred long term liab - - - - -
Other current liab 40.43M 7.64M 16.70M 5.62M 0.10M
Common stock 530.12M 429.12M 378.89M 32.00M 33.94M
Capital stock 530.12M 429.12M 378.89M 32.00M 33.94M
Retained earnings -294.92400M -239.06500M -0.01500M -22.14500M -5.85600M
Other liab - 1.98M 8.69M 0.21M 0.19M
Good will 0.00000M 0.00000M 16.95M - -
Other assets - 38.19M 90.58M 0.97M 1.62M
Cash 84.04M 30.81M 125.27M 5.95M 2.16M
Cash and equivalents - - 125.59M 5.95M 2.16M
Total current liabilities 69.15M 67.24M 101.18M 28.48M 4.01M
Current deferred revenue 12.77M - - 0.95M -
Net debt -64.16600M 34.20M -40.53100M 22.42M 20.03M
Short term debt 6.88M 46.70M 74.61M 20.80M 1.62M
Short long term debt 4.02M 43.05M 70.26M 17.17M 0.87M
Short long term debt total 19.87M 65.01M 84.74M 28.37M 22.19M
Other stockholder equity 56.62M - - - -
Property plant equipment - 235.79M 146.25M 41.19M 44.01M
Total current assets 129.98M 69.09M 287.13M 9.17M 6.55M
Long term investments - - - - -
Net tangible assets - 255.53M 403.95M 15.07M 27.41M
Short term investments 31.87M 4.63M 66.03M - -
Net receivables 2.21M 16.77M 3.71M 1.40M 3.69M
Long term debt - 4.09M 0.91M 0.17M 14.85M
Inventory 0.70M 0.59M 0.55M 0.17M 0.14M
Accounts payable 9.08M 12.90M 9.87M 2.06M 2.29M
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity - - - - -
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income 2.94M 65.51M 43.70M 5.59M -
Additional paid in capital - - - - -
Common stock total equity - - - - -
Preferred stock total equity - - - - -
Retained earnings total equity - - - - -
Treasury stock - - - - -
Accumulated amortization - - - - -
Non currrent assets other 4.90M 5.96M 3.62M 0.94M 1.50M
Deferred long term asset charges - - - - -
Non current assets total 248.74M 274.01M 255.46M 42.54M 46.31M
Capital lease obligations 15.85M 17.86M 13.57M 11.02M 6.46M
Long term debt total - - 10.14M 7.57M 20.57M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Investments -155.01100M -215.14700M -3.60500M -22.36400M -21.67800M
Change to liabilities 0.09M 9.24M 0.11M -0.01600M -0.10700M
Total cashflows from investing activities -155.01100M -215.14700M -3.60500M -22.36400M -22.07700M
Net borrowings -30.09700M 49.49M -1.86600M 12.94M 1.39M
Total cash from financing activities 24.01M 371.99M 0.18M 17.97M 4.33M
Change to operating activities -4.37500M -5.31600M 1.10M -1.26000M -0.12400M
Net income -239.05000M 22.13M -16.28900M 2.11M -18.23600M
Change in cash -94.70800M 119.65M 3.79M 1.61M -3.96600M
Begin period cash flow 125.59M 5.95M 2.16M 0.55M 4.52M
End period cash flow 30.89M 125.59M 5.95M 2.16M 0.55M
Total cash from operating activities 36.25M -37.17000M 7.22M 6.02M 13.36M
Issuance of capital stock 54.09M 259.17M 0.05M 4.94M 2.94M
Depreciation 72.42M 24.48M 11.49M 6.84M 12.55M
Other cashflows from investing activities 39.97M -21.89100M 0.88M 1.41M 0.71M
Dividends paid - - - - -
Change to inventory - -0.37900M -0.03400M -0.00500M 0.41M
Change to account receivables 0.43M 0.06M 0.00500M -0.00200M -0.33800M
Sale purchase of stock 54.11M 322.49M 2.05M 5.04M 2.94M
Other cashflows from financing activities 107.22M 137.54M 2.08M 14.76M 1.89M
Change to netincome 206.86M -99.16600M 8.78M -0.69600M 10.74M
Capital expenditures 194.98M 193.26M 4.48M 23.78M 22.39M
Change receivables - - - - -
Cash flows other operating - - - - -
Exchange rate changes - - - - -
Cash and cash equivalents changes - - - - -
Change in working capital -3.97800M 15.39M 3.24M -3.02600M -1.08800M
Stock based compensation 21.79M 22.59M 2.20M 2.87M -
Other non cash items 217.44M -130.59300M 6.58M -1.17200M 20.84M
Free cash flow -158.72800M -230.42600M 2.74M -17.75800M -9.03000M

Peer Comparison

Sector: Financial Services Industry: Capital Markets

Company Change (CAD) Price (CAD) Trailing PE (x) Forward PE (x) Price Sales TTM (x) Price to Book Value (x) Enterprise Value to Revenue (x) Enterprise Value to EBITDA (x)
BITF
Bitfarms Ltd
-0.09 3.46% 2.51 - 84.03 8.35 2.19 4.98 28.38
GLXY
Galaxy Digital Holdings Ltd
-1.495 5.68% 24.82 5.65 11.88 34.67 2.43 47.61 12.68
HUT
Hut 8 Mining Corp
-2.83 7.50% 34.90 - 48.54 14.77 2.77 27.37 -88.5824
CF
Canaccord Genuity Group Inc
-0.28 2.70% 10.09 - 11.48 0.63 1.23 0.32 2.02
CXI
Currency Exchange International Corp
- -% 22.46 15.64 8.23 1.86 1.37 0.03 0.11

Reports Covered

Stock Research & News

Profile

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada. It also undertakes hosting of third-party mining hardware. The company was formerly known as Bitfarms Technologies Ltd and changed its name to Bitfarms Ltd. in October 2018. The company was founded in 2017 and is based in Toronto, Canada.

Bitfarms Ltd

110 Yonge Street, Toronto, ON, Canada, M5C 1C4

Key Executives

Name Title Year Born
Mr. Nicolas Bonta Founder & Exec. Chairman 1975
Mr. Emiliano Joel Grodzki Founder, CEO & Director 1976
Mr. L. Geoffrey Morphy Pres & COO NA
Mr. Jeffrey P. Lucas Chief Financial Officer 1960
Mr. Benjamin Gagnon Chief Mining Officer NA
Mr. Marc-Andre Ammann VP Fin. & Accounting NA
Ms. Sonia Tercas Director of Investor Relations NA
Ms. Stephanie Wargo VP of Marketing & Communications NA
Mr. Philippe Fortier VP of Corp. Devel. NA
Ms. Andrea Keen Souza Vice-Pres of HR NA

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