Bitfarms achieved significant operational growth in 2024, with hashrate doubling to 12.8 EH/s and efficiency improving 40% YoY to 21 w/TH. The company expanded operational capacity by 35% to 324MW and earned 2,914 BTC for the full year. December production reached 211 BTC, up 2% from November but down 53% YoY, with average operating hashrate at 11.1 EH/s.The company maintained strong liquidity of $147 million, including $60 million in cash at year-end. Its Synthetic HODL program, launched in October 2023, generated approximately $18 million in trading profits with a 135% USD return. The company held 934 BTC in treasury valued at $87.8 million as of December 31, 2024.The pending acquisition of Stronghold Digital Mining, expected to close in Q1 2025, will significantly expand Bitfarms' U.S. presence in the PJM region. This strategic move aims to increase target multi-year expansion capacity to 1.6 GW, with approximately 66% in the U.S., up from 6% currently, while diversifying into HPC/AI operations.

Bitfarms achieved significant operational growth in 2024, with hashrate doubling to 12.8 EH/s and efficiency improving 40% YoY to 21 w/TH. The company expanded operational capacity by 35% to 324MW and earned 2,914 BTC for the full year. December production reached 211 BTC, up 2% from November but down 53% YoY, with average operating hashrate at 11.1 EH/s.The company maintained strong liquidity of $147 million, including $60 million in cash at year-end. Its Synthetic HODL program, launched in October 2023, generated approximately $18 million in trading profits with a 135% USD return. The company held 934 BTC in treasury valued at $87.8 million as of December 31, 2024.The pending acquisition of Stronghold Digital Mining, expected to close in Q1 2025, will significantly expand Bitfarms' U.S. presence in the PJM region. This strategic move aims to increase target multi-year expansion capacity to 1.6 GW, with approximately 66% in the U.S., up from 6% currently, while diversifying into HPC/AI operations.