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Bitfarms Ltd T.BITF

Alternate Symbol(s):  BITF

Bitfarms Ltd. is a Canada-based global vertically integrated bitcoin mining company. The Company develops, owns, and operates vertically integrated mining farms with in-house management and Company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers operational performance and uptime. The Company operates through the cryptocurrency mining segment. The Company operates server farms comprised of computers (Miners) designed for the purpose of validating transactions on the Bitcoin (BTC) Blockchain (Mining). The Company also operates Miners about 24 hours a day producing computational power (measured by hashrate) which it sells to Mining Pools under a formula-driven rate commonly known as Full Pay Per Share (FPPS). The Company has 11 farms, which are located in four countries: Canada, the United States, Paraguay, and Argentina.


TSX:BITF - Post by User

Comment by RetireAt45on May 26, 2021 10:27pm
116 Views
Post# 33273434

RE:RE:RE:I found this about the Warrents

RE:RE:RE:I found this about the Warrentshey there Delta Dud (the self proclaimed Alpha for those that don't understand his true status)...was just reviewing the financials....interesting yet somewhat concerning I would think...here is a little sample... i took the same quarter last year info found on Stockhouse and filled in some of the data from this quarters financials....(I didn't do the entire list, just the most important ones in my opinion) let's hear your take on this...

Fiscal Year ends in DecUSD in Thousands except per share data Mar-21 Mar 20
total revenue 28432 9212
Cost of Revenue 9120 7917
gross profit 19312 1295
operating expense 2819 2805
Operating Income 16471 -1510
net non operating interest income expense 23425 -1022
Net Income -7605 -2424
basic eps -0.06 -0.03
basic average shares 123877 84048

Total revenue did go up by approx. 209%....impressive....but then again BTC avg value went up by 442%...

Share count went up by over 39M shares...a 47% increase in share count...

Net income decreased by over $5M...increased loss by 213%....

Negative EPS got worse to -0.06....thank goodness for share count increase or it would have been more like -0.09.....


Another interesting bit of info is what they are listing as Digital Assets

                                                                                       Three months ended March 31,
                                                                                     2021                                       2020

                                                                               Quantity   Value                   Quantity   Value          Balance as of January 1,                                        -                  $ -                     -                 $ -                Bitcoin mined*                                                         598          27,190                   1,087    8,980              Bitcoin exchanged for cash and services                (3)            (171)                    (913) (7,441)
Bitcoin exchanged for long-term debt repayment   (47)         (1,546)                  (159) (1,283)
Loss on disposition of Bitcoin                                    -            (22)                         -            -
Prior period accounting policy change                      -               -                           -         (160)
Revaluation of digital assets**                                   -           6,977                       -             -
Balance as of March 31,                                        548         $32,428                   15        $96


Does this HODL info concern you at all....interesting info as you have been spouting non effen stop on the HIVE board that they sell their HODL to show a profit....but the facts show that last year BITF was obviously selling their HODL just to keep the doors open....big difference being that HIVE has a positive EPS.....BITF ah no....definitely still a negative EPS....

anyways....would be interesting to hear your exceptionally intelligent opinion on this info...just saying...

45
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