Bitfarms Ltd. (“
Bitfarms”, or the
“
Company”) (TSXV: BITF/OTC: BFARF) today announces
it will report fiscal first quarter 2021 financial results on
Wednesday, May 26, 2021, after market close.
Management will host a conference call on
Wednesday, May 26, 2021 at 5:30 p.m. ET to review financial
results. Following management’s formal remarks there will be a
question-and-answer session where management will address
pre-submitted questions. Interested parties may submit questions
for management’s consideration at investors@bitfarms.com through
May 21, 2021.
Conference call access:
Participants are asked to pre-register for the
call through the following
link:https://dpregister.com/sreg/10156341/e85e3388ed
Please note that registered participants will
receive their dial in number upon registration and will dial
directly into the call without delay. Those without internet access
or unable to pre-register may dial in by calling: 1-866-777-2509
(domestic), 1-412-317-5413 (international). All callers should dial
in approximately 10 minutes prior to the scheduled start time and
ask to be joined into the Bitfarms call.
The conference call will also be available
through a live webcast found here:
https://services.choruscall.com/mediaframe/webcast.html?webcastid=PgMEVu3T
A webcast replay of the call will be available
approximately one hour after the end of the call through August 26,
2021 at the above webcast link. A telephonic replay of the call
will be available through June 2, 2021 and may be accessed by
calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international)
or Canada (toll free) 855-669-9658 and using access code
10156341.
A presentation of the Q1 2021 results will
be accessible on Wednesday, May 26, 2021, after market close, under
the “Investors” section of the Bitfarms’ website.
About Bitfarms Ltd.
Founded in 2017, Bitfarms is a Bitcoin mining
company, running vertically integrated mining operations with
onsite technical repair, proprietary data analytics and
Company-owned electrical engineering and installation services to
deliver high operational performance and uptime.
Having demonstrated rapid growth and stellar
operations, Bitfarms became the first Bitcoin mining company to
complete its long form prospectus with the Ontario Securities
Commission and started trading on the TSX-V in July 2019. On
February 24, 2021 Bitfarms was honored to be announced as a Rising
Star by the TSX-V.
Bitfarms has a diversified production platform
with five industrial scale facilities located in Québec. Each
facility is 100% powered with environmentally friendly hydro power
and secured with long-term power contracts. Bitfarms is currently
the only publicly traded pure-play mining company audited by a Big
Four audit firm.
To learn more about Bitfarms’ events, developments, and online
communities:
Website: www.bitfarms.com
https://www.facebook.com/bitfarms/https://twitter.com/Bitfarms_iohttps://www.instagram.com/bitfarms/https://www.linkedin.com/company/bitfarms/
Cautionary Statement
Trading in the securities of the Company should
be considered highly speculative. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain
“forward-looking information” and “forward-looking statements”
(collectively, “forward-looking information”) that are based on
expectations, estimates and projections as at the date of this news
release. The information in this release regarding expectations in
respect to listing and trading on the Nasdaq and about future plans
and objectives of the Company are forward-looking information.
Other forward-looking information includes, but is not limited to,
information concerning: the intentions, plans and future actions of
the Company, as well as Bitfarms’ ability to successfully mine
digital currency, revenue increasing as currently anticipated, the
ability to profitably liquidate current and future digital currency
inventory, volatility of network difficulty and digital currency
prices and the potential resulting significant negative impact on
the Company’s operations, the construction and operation of
expanded blockchain infrastructure as currently planned, and the
regulatory environment for cryptocurrency in the applicable
jurisdictions.
Any statements that involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often but
not always using phrases such as “expects”, or “does not expect”,
“is expected”, “anticipates” or “does not anticipate”, “plans”,
“budget”, “scheduled”, “forecasts”, “estimates”, “believes” or
“intends” or variations of such words and phrases or stating that
certain actions, events or results “may” or “could”, “would”,
“might” or “will” be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
information and are intended to identify forward-looking
information.
This forward-looking information is based on
assumptions and estimates of management of the Company at the time
they were made, and involves known and unknown risks, uncertainties
and other factors which may cause the actual results, performance,
or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking information. Such factors include, among
others, risks relating to: the global economic climate; dilution;
the Company’s limited operating history; future capital needs and
uncertainty of additional financing; the competitive nature of the
industry; currency exchange risks; the need for the Company to
manage its planned growth and expansion; the effects of product
development and need for continued technology change; protection of
proprietary rights; the effect of government regulation and
compliance on the Company and the industry; network security risks;
the ability of the Company to maintain properly working systems;
reliance on key personnel; global economic and financial market
deterioration impeding access to capital or increasing the cost of
capital; and volatile securities markets impacting security pricing
unrelated to operating performance. In addition, particular factors
that could impact future results of the business of Bitfarms
include, but are not limited to: the construction and operation of
blockchain infrastructure may not occur as currently planned, or at
all; expansion may not materialize as currently anticipated, or at
all; the digital currency market; the ability to successfully mine
digital currency; revenue may not increase as currently
anticipated, or at all; it may not be possible to profitably
liquidate the current digital currency inventory, or at all; a
decline in digital currency prices may have a significant negative
impact on operations; an increase in network difficulty may have a
significant negative impact on operations; the volatility of
digital currency prices; the anticipated growth and sustainability
of hydroelectricity for the purposes of cryptocurrency mining in
the applicable jurisdictions, the ability to complete current and
future financings, any regulations or laws that will prevent
Bitfarms from operating its business; historical prices of digital
currencies and the ability to mine digital currencies that will be
consistent with historical prices; an inability to predict and
counteract the effects of COVID-19 on the business of the Company,
including but not limited to the effects of COVID-19 on the price
of digital currencies, capital market conditions, restriction on
labor and international travel and supply chains; and, the adoption
or expansion of any regulation or law that will prevent Bitfarms
from operating its business, or make it more costly to do so. For
further information concerning these and other risks and
uncertainties, refer to the Company’s filings on
www.SEDAR.com including the annual information form for the
year ended December 31, 2020, filed on April 7, 2021. The Company
has also assumed that no significant events occur outside of
Bitfarms’ normal course of business. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially from those expressed in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on any forward-looking information. The
Company undertakes no obligation to revise or update any
forward-looking information other than as required by law.
Investor and Media Contact: |
Investor Relations Contact: |
Mauro Ferrara |
CORE IR |
Interim Chief Financial Officer and Corporate Secretary |
investors@bitfarms.com |
Bitfarms Ltd. |
+1.516.222-2560 |
+1.514.691-6228 |
|
MFerrara@bitfarms.com |
|
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