About Bitfarms
Bitfarms is a company based in Toronto (Canada) founded in 2017 was acquired by HIVE Digital Technologies in January 2025.. Bitfarms has completed 1 acquisition, including Stronghold Digital Mining. Bitfarms operates in a competitive market with competitors including Core Scientific, Pi Network, BitFuFu, Genesis Digital Assets and Vogogo, among others.
- Headquarter Toronto, Canada
- Stage Public
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Sectors
TechnologyFinancial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Bitfarms Ltd.
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Annual Revenue
$183.65 M (USD)33.76as on Dec 31, 2024
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Net Profit
$-51.47 M (USD)49.62as on Dec 31, 2024
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EBITDA
$35.58 M (USD)109.69as on Dec 31, 2024
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Latest Funding Round
$588 M (USD), Post-IPO
Oct 21, 2025
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Investors
HIVE Digital Technologies
& 2 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Acquired by
HIVE Digital Technologies
(Jan 28, 2025)
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IPO & Listings of Bitfarms
Bitfarms is a publicly listed company on the TSX with ticker symbol BITF in Canada, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
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Funding Insights of Bitfarms
- Total Funding Total Funding
- Total Rounds 9
- Last Round Post-IPO — $588.0M
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First Round
First Round
(17 Mar 2019)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2025 | Amount | Post-IPO - Bitfarms | Valuation |
investors |
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| Nov, 2023 | Amount | Post-IPO - Bitfarms | Valuation |
investors |
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| May, 2021 | Amount | Post-IPO - Bitfarms | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Bitfarms
Bitfarms has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include HIVE Digital Technologies, Dominion Capital and Sadis. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Dominion Capital is engaged in investment and financing solutions.
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Founded Year | Domain | Location | |
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Law firm providing legal advice for hedge funds, litigation, and corporate matters.
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Founded Year | Domain | Location | |
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Data center owner and operator powering cutting-edge projects in the Web3 and AI industries
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Bitfarms
Bitfarms has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Stronghold Digital Mining. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Crypto mining is powered by energy from coal refuse conversion.
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2021 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Bitfarms
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Bitfarms Comparisons
Competitors of Bitfarms
Bitfarms operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Core Scientific, Pi Network, BitFuFu, Genesis Digital Assets and Vogogo, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
AI and blockchain infrastructure plus software solutions are offered.
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| domain | founded_year | HQ Location |
Provider of blockchain-based platform offering to mine coins
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| domain | founded_year | HQ Location |
Cloud mining platform for cryptocurrencies
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| domain | founded_year | HQ Location |
Profitable bitcoin mining operation services are provided globally.
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| domain | founded_year | HQ Location |
Bitcoin mining hosting and optimization software are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Bitfarms
Frequently Asked Questions about Bitfarms
When was Bitfarms founded?
Bitfarms was founded in 2017 and raised its 1st funding round 2 years after it was founded.
Where is Bitfarms located?
Bitfarms is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
What is the annual revenue of Bitfarms?
Annual revenue of Bitfarms is $183.65M as on Dec 31, 2024.
What does Bitfarms do?
Bitfarms was founded in 2017 in Toronto, Canada, within the cryptocurrency sector. Blockchain infrastructure is operated for computing centers, where bitcoins are processed through mining networks and fees are earned for transaction handling. Hosting services, in-house management, and support for miners are offered to facilitate operations in the cloud mining domain.
Who are the top competitors of Bitfarms?
Bitfarms's top competitors include Pi Network, Core Scientific and BitFuFu.
Is Bitfarms publicly traded?
Yes, Bitfarms is publicly traded on TSX under the ticker symbol BITF.
How many acquisitions has Bitfarms made?
Bitfarms has made 1 acquisition, including Stronghold Digital Mining.
Who are Bitfarms's investors?
Bitfarms has 3 investors. Key investors include HIVE Digital Technologies, Dominion Capital, and Sadis.
What is Bitfarms's ticker symbol?
The ticker symbol of Bitfarms is BITF on TSX.
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