Bitfarms

Bitfarms is a prominent enterprise in the cryptocurrency mining sector. Founded in 2017, it is headquartered in Toronto, Canada. The company was listed on the TSX Venture Exchange (TSXV) in 2019 and subsequently listed on the NASDAQ in 2021.

In terms of business operations, Bitfarms runs one of the largest cryptocurrency mining operations in North America, with data centers located across multiple countries. In Québec, Canada, its five mining farms are powered entirely by renewable energy, with electricity costs as low as 4 cents per kWh. The company operates a total of 12 Bitcoin data centers across Canada, the United States, Paraguay, and Argentina.

Bitfarms continues to expand through partnerships and acquisitions. In 2024, the company secured land in Iguazu, Paraguay, to build a 100-megawatt mining facility, aiming to boost its hash rate capacity to 21 exahashes per second (EH/s) by the end of the year. That same year, Bitfarms acquired Stronghold Digital Mining for approximately $165 million, significantly strengthening its market position.

As of March 26, 2025, Bitfarms held 1,093 Bitcoins, with total liquid assets of about $135 million.

Bitfarms develops, owns, and operates vertically integrated mining farms. On the technical and management front, it has a proprietary ASIC monitoring and management platform and owns an in-house construction and maintenance subsidiary, Volta Electrique. This structure helps minimize downtime, enhance operational efficiency, and also serves as an additional revenue stream.

With its broad global footprint, advanced technical management capabilities, and deep commitment to renewable energy, Bitfarms continues to grow its influence in the crypto mining industry. The company is also actively transitioning into high-performance computing (HPC) and artificial intelligence (AI) to explore new business growth opportunities.