Latest news with #BITF
Malaysian Reserve
4 days ago
- Business
- Malaysian Reserve
Investors in Bitfarms Ltd. Should Contact The Gross Law Firm Before July 8, 2025 to Discuss Your Rights
NEW YORK, June 5, 2025 /PRNewswire/ — The Gross Law Firm issues the following notice to shareholders of Bitfarms Ltd. (NASDAQ: BITF). Shareholders who purchased shares of BITF during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: CLASS PERIOD: March 21, 2023 to December 9, 2024 ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Bitfarms maintained deficient internal controls over financial reporting; (ii) as a result, the Company incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities; (iii) in addition, the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants; (iv) the foregoing errors caused Bitfarms to misstate various items in several of the Company's previously issued financial statements; (v) as a result, these financial statements were inaccurate and would likely need to be restated; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times. DEADLINE: July 8, 2025 Shareholders should not delay in registering for this class action. Register your information here: NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of BITF during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is July 8, 2025. There is no cost or obligation to you to participate in this case. WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: dg@ Phone: (646) 453-8903
Associated Press
02-06-2025
- Business
- Associated Press
ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Bitfarms Ltd. Investors to Secure Counsel Before Important Deadline in Securities Class Action
New York, New York--(Newsfile Corp. - June 1, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bitfarms Ltd. (NASDAQ: BITF) between March 21, 2023 and December 9, 2024, both dates inclusive (the 'Class Period'), of the important July 8, 2025 lead plaintiff deadline. SO WHAT: If you purchased Bitfarms securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Bitfarms class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Bitfarms maintained deficient internal controls over financial reporting; (2) as a result, Bitfarms incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities; (3) in addition, Bitfarms overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants; (4) the foregoing errors caused Bitfarms to misstate various items in several of Bitfarms' previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; and (6) as a result, Bitfarms' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Bitfarms class action, go to call Phillip Kim, Esq. toll-free at 866-767-3653, or email [email protected] for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: or on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] To view the source version of this press release, please visit
Associated Press
23-05-2025
- Business
- Associated Press
ROSEN, LEADING INVESTOR COUNSEL, Encourages Bitfarms Ltd. Investors to Secure Counsel Before Important Deadline in Securities Class Action
New York, New York--(Newsfile Corp. - May 23, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bitfarms Ltd. (NASDAQ: BITF) between March 21, 2023 and December 9, 2024, both dates inclusive (the 'Class Period'), of the important July 8, 2025 lead plaintiff. SO WHAT: If you purchased Bitfarms securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Bitfarms class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Bitfarms maintained deficient internal controls over financial reporting; (2) as a result, Bitfarms incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities; (3) in addition, Bitfarms overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants; (4) the foregoing errors caused Bitfarms to misstate various items in several of Bitfarms' previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; and (6) as a result, Bitfarms' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Bitfarms class action, go to call Phillip Kim, Esq. toll-free at 866-767-3653, or email [email protected] for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: or on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] To view the source version of this press release, please visit
Associated Press
22-05-2025
- Business
- Associated Press
ROSEN, A LEADING LAW FIRM, Encourages Bitfarms Ltd. Investors to Secure Counsel Before Important Deadline in Securities Class Action
New York, New York--(Newsfile Corp. - May 22, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bitfarms Ltd. (NASDAQ: BITF) between March 21, 2023 and December 9, 2024, both dates inclusive (the 'Class Period'), of the important July 8, 2025 lead plaintiff. SO WHAT: If you purchased Bitfarms securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Bitfarms class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Bitfarms maintained deficient internal controls over financial reporting; (2) as a result, Bitfarms incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities; (3) in addition, Bitfarms overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants; (4) the foregoing errors caused Bitfarms to misstate various items in several of Bitfarms' previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; and (6) as a result, Bitfarms' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Bitfarms class action, go to call Phillip Kim, Esq. toll-free at 866-767-3653, or email [email protected] for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: or on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] To view the source version of this press release, please visit
Yahoo
15-05-2025
- Business
- Yahoo
Bitfarms Ltd (BITF) Q1 2025 Earnings Call Highlights: Strategic Pivot and Financial Performance
Revenue: $67 million, up 33% year over year. Bitcoin Mining Revenue: $65 million. Gross Mining Profit: $28 million, representing a 43% direct mining margin. Net Loss: $36 million or $0.07 per share. Adjusted EBITDA: $15 million or 23% of revenue. Direct Mining Cost per Bitcoin: $47,800. All-in Cash Cost to Mine a Bitcoin: $72,300. Revenue per Bitcoin Earned: $92,500. Profit per Bitcoin: Just over $20,000. Total Liquidity: Approximately $150 million as of May 13th. Projected Free Cash Flow from Mining Operations: About $8 million per month. Projected CapEx Needs for 2025: Under $100 million, excluding HPC and AI capital needs. Warning! GuruFocus has detected 6 Warning Signs with BITF. Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Bitfarms Ltd (NASDAQ:BITF) is strategically pivoting from solely Bitcoin mining to becoming a leading North American energy and compute infrastructure company, focusing on high-performance computing (HPC) and artificial intelligence (AI). The company has secured up to $300 million in financing from Macquarie Group to support the development of its Panther Creek campus, validating its HPC and AI development thesis. Bitfarms Ltd (NASDAQ:BITF) has made significant progress in rebalancing its portfolio towards the United States, acquiring strategic energy campuses and power generation facilities in Pennsylvania. The company has completed a transformative fleet upgrade, improving its Bitcoin mining efficiency and reducing operating costs, with over 94% of its purchased miners now installed. Bitfarms Ltd (NASDAQ:BITF) has a strong financial foundation with steady mining economics, no plans for additional large miner purchases, and minimal impact expected from potential tariffs. The company faces challenges in securing the necessary infrastructure and client commitments for its HPC and AI business, with ongoing development milestones required to access the full $300 million financing. Bitfarms Ltd (NASDAQ:BITF) reported a net loss of $36 million for the first quarter, including $17 million in impairment charges related to its Argentine operation. The company has divested its Iguazu Paraguay Bitcoin mining site, which was misaligned with its new HPC and US-centric strategy, indicating a shift away from certain international operations. There is uncertainty regarding the timeline and costs associated with the development of the Panther Creek campus and other US sites, as the company is still finalizing its master site plans. Bitfarms Ltd (NASDAQ:BITF) has decided to stop publishing monthly Bitcoin production reports, which may reduce transparency for investors focused on its Bitcoin mining operations. Q: Can you provide more specifics on the infrastructure development needed to build out the 500 megawatts of total expected capacity at Panther Creek? A: Jeffrey Lucas, CFO: We are in the final stages of a massive development plan for Panther Creek. We will have more information soon regarding expenditures. Ben Gagnon, CEO: The master site plan is expected to be completed this quarter, which is a key milestone to access the full $300 million facility with Macquarie. The $300 million can build out all powered land infrastructure for 500 megawatts or the initial substation and first HPC building. Q: Is there further room to optimize or improve power costs on the Bitcoin mining side? A: Ben Gagnon, CEO: We have about 6% of miners left to install, which are more efficient than the current ones. With our PGM facilities in Pennsylvania, we have more control over energy prices, allowing us to optimize free cash flow by adjusting hash rates based on daily energy costs. Q: What specific development milestones must be met to access the additional $250 million from Macquarie? A: Jeffrey Lucas, CFO: Once we have Macquarie's approval for the master development plan, we can begin drawing on the facility as capital requirements arise. The process is straightforward, involving approval of anticipated capital expenditures. Q: How do you rank your sites like Scrubgrass, Sharon, and Washington State compared to Panther Creek? A: Ben Gagnon, CEO: Panther Creek is the best opportunity due to its immediate power availability and proximity to major cities. Scrubgrass is similar but slightly behind in power connections. Sharon has 110 megawatts ready next year, and Washington offers low-cost power, making it suitable for different customer needs. Q: What are the biggest lessons learned from transitioning to HPC and AI capacity? A: Ben Gagnon, CEO: We've learned about the different quality controls required for HPC, which led us to engage advisors to quickly adapt. We've assessed all our sites, understanding strategic value and areas of concern, and now have a structured, repeatable process for development. Q: How do you view the macro environment for HPC capacity and the interest in PJM specifically? A: Ben Gagnon, CEO: We've had initial conversations with customers, but need certainty in timelines and construction schedules to advance discussions. The demand for HPC data centers is insatiable, and we don't see any slowdown in investment or demand. Q: What is your outlook for Bitcoin over the medium term, and how does it impact the mining industry? A: Ben Gagnon, CEO: We've maintained the same outlook since mid-2023, focusing on locking in mining hardware for the 2025 bull run. We expect healthy margins and free cash flow through 2026, with the best investment opportunities now in electrical infrastructure for HPC and AI. Q: How do you plan to unlock shareholder value through HPC development? A: Ben Gagnon, CEO: Our goal is to unlock value through long-term, high-margin contracted revenues. We focus on return on invested capital, balancing CapEx and ROIC to deliver the best returns for shareholders, driven by customer demand and conversations. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
