Bitfarms Ltd. (“
Bitfarms”, or the
“
Company”) (TSXV:BITF // OTC:BFARF), a publicly
traded Bitcoin mining company, currently powering approximately 1%
of the Bitcoin network with greater than 99% green
hydroelectricity, today announced that the Company has received DTC
eligibility for the Company’s common shares in connection with
their listing on the Nasdaq Stock Market (“Nasdaq”). Trading on
Nasdaq is expected to begin this coming Monday, June 21st, under
the symbol “BITF”. Bitfarms will retain its listing on the
TSX Venture Exchange under the symbol “BITF”.
“Listing on Nasdaq is an important achievement
for Bitfarms and is a significant milestone following multiple
years of development and achievement by the Company. We started
this company four years ago with a clear belief in the
institutional adoption of Bitcoin and Bitcoin mining. This belief
has guided us as we worked to build one of the largest Bitcoin
mining operations worldwide. When Bitfarms begins trading on the
Nasdaq, it will be the largest publicly traded Bitcoin miner in
North America using greater than 99% hydroelectric renewable
electricity. We are proud to be a leader in the industry in setting
the highest standards for ourselves and our mining operations and
to be uplisting to one of the most prestigious stock exchanges in
the world. Having reached this milestone we are even more excited
about where it will take our company next,” commented Emiliano
Grodzki, Bitfarms’ Founder and Chief Executive Officer.
H.C. Wainwright & Co. served as advisor to
Bitfarms in connection with the Nasdaq listing, and Katten Muchin
Rosenman LLP represented the Company as U.S. legal counsel in
connection with the Nasdaq listing. Peterson McVicar LLP serves as
Canadian counsel to the Company.
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 honoured 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 greater than 99% powered with environmentally friendly
hydroelectric 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/
Defined Terms
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) nor any
other securities exchange or regulatory authority 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
labour 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.
Contacts
L. Geoffrey MorphyPresidentInvestors@bitfarms.com
Investor Relations:
CORE IR+1 516 222
2560Investors@bitfarms.com
US Media:
CORE
IR
Jules Abraham, Director of Public Relationsjulesa@coreir.com
YAP GlobalMia Grodsky, Account
Executivemia@yapglobal.com
Québec Media:
Ryan Affaires publiques Marc Duchesne,
Directeur / Directormarc@ryanap.com
Bitfarms (TSXV:BITF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bitfarms (TSXV:BITF)
Historical Stock Chart
From Jul 2023 to Jul 2024