Bitfarms Mines 424 BTC in March

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TORONTO and BROSSARD, Qubec, April 03, 2023 (GLOBE NEWSWIRE) -- <a target="_blank" href="https://www.globenewswire.com/Tracker?data=VTZ_kkVSOYV3sbFcMy6DGpDwk0U_AmwG1ACQ46bKvA8WU8FObx3i7MiBxe7SvW74RTjSS5pfO9gOyKnIHmBqd05aXgrrsE1EzXxren61IoU_8irQSNpJTTEFiLZDpAxr1keT6XLgHSCguiFipVeJQFo-YNVTuj_vb8tAdJmVjxH42cH9S3uKfO10ycW5gh8_jc_TTTLXL62nZo_iaoSjdKjc5E_0pvEh7UisPn4EkFzHGN6-9AX7LhLXCFDe-113gZ01IJf17L_B0ngbxCmZrlXyMBQU6BUgv3ggfV5T70GgpD_WuCzP6yCDIVDZ20e9" rel="nofollow noopener">Bitfarms Ltd.</a> (NASDAQ: BITF//TSX: BITF), a world Bitcoin self-mining firm, offered a Bitcoin (BTC) manufacturing and mining operations replace for March 2023. âWe improved our monetary place in March 2023, reflecting steady manufacturing and an rising BTC worth,â mentioned Geoff Morphy, CEO of Bitfarms. âThroughout the month, we mined 424 BTC, added 30 BTC to treasury, and offered 394 BTC at a median promoting worth of $24,700 per BTC, in keeping with enhancing mining economics and decrease debt obligations. Strengthening the Companyâs stability sheet and lowering debt additional, we ended March with $29 million in money and equivalents, 435 BTC in custody, $22 million in vendor credit, and simply $21 million in complete indebtedness.â Ben Gagnon, Chief Mining Officer of Bitfarms, mentioned, âIn March, we elevated BTC manufacturing 17% year-over-year, even with power curtailment in Quebec and Paraguay in addition to continued community development. In Q1 2023, BTC worth elevated by 72%, outpacing community difficultly development of 32.5%. Because of this, trade mining income is up 31% {dollars} per TH within the quarter. Continued rising problem ranges replicate rising funding and bullish sentiment within the mining trade total.â Mining Evaluate Power curtailment in Quebec moderated in March, as hotter climate decreased the load offered again to the native energy grids. Nonetheless, excessive warmth in Paraguay resulted in some power curtailment throughout mid-March. Cooler temperatures arrived towards month finish within the Southern Hemisphere. The desk beneath presents an summary of March 2023 efficiency metrics as in comparison with each February 2023 and March 2022. <table style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Key Efficiency Indicators</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">Mar. 2023</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">Feb. 2023</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">Mar. 2022</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Whole BTC Mined</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">424</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">387</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">363</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Month Finish Working EH/s</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">4.8</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">4.7</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">2.7</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">BTC/ Avg. EH/s</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">91</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">91</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">143</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Working Capability (MW)</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">188</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">188</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">121</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Hydropower MW</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">178</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">178</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">121</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Watts/Terahash Effectivity (w/TH)</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">39</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">39</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">42</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: top ; ">BTC Offered</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">394</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">387</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">2</td></tr></table>March 2023 Choose Working Highlights <ul><li>4.8 EH/s on-line as of March 31, 2023, up 78% from March 31, 2022 and up 2% in comparison with February 28, 2023.</li><li>4.6 EH/s common on-line, in comparison with 4.3 EH/s in February 2023.</li><li>91.4 BTC/common EH/s, up marginally from 91 in February 2023.</li><li>424 new BTC mined, up 9.6% from March 2022 and up 16.8% from February 2023.</li><li>13.7 BTC mined day by day on common, equal to about $390,000 per day and roughly $12.1 million for the month, based mostly on a BTC worth of $28,500 on March 31, 2023.</li></ul>Gagnon added, âWith an eye fixed on frequently enhancing value controls, throughout March we efficiently piloted a brand new characteristic in our proprietary administration system to trace actual time power consumption on a person miner foundation. Actual time monitoring permits for machine optimization and is scheduled to be deployed company-wide in April.â Bitfarmsâ BTC Month-to-month Manufacturing The desk beneath presents an summary of BTC mined per thirty days in every of the primary three months of 2023 and 2022, respectively. <table align="center" style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Month</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">BTC Mined 2023</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: top ; ">BTC Mined 2022</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">January</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">486</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">301</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">February</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">387</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">298</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">March</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">424</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: top ; ">363</td></tr><tr><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle ; ">Whole YTD</td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: middle ; ">1,297 </td><td style="border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; text-align: center ; vertical-align: middle; vertical-align: top ; ">962</td></tr></table>March 2023 Monetary Replace <ul><li>Offered 394 BTC of the 424 BTC mined, producing complete proceeds of $9.7 million.</li><li>Lowered complete excellent indebtedness by $2 million, leaving a stability of $21 million at March 31, 2023.</li><li>Held 435 BTC in custody, representing a complete worth of roughly $12.4 million based mostly on a BTC worth of $28,500, at March 31, 2023.</li><li>Held $29 million in money and money equivalents at March 31, 2023.</li><li>Held a $22 million credit score for pre-paid deposits to be utilized in opposition to future miner buy agreements at March 31, 2023.</li></ul>Conferences and Occasions Bitfarms plans to attend the next upcoming occasions: <ul><li>April 27: Ladenburg Thalmann Expertise Expo, New York Metropolis</li><li>Might 18-20: BTC 2023, Miami FL</li><li>Might 18: 18th Annual Needham Expertise & Media Convention, Digital</li></ul>About Bitfarms Ltd. Based in 2017, Bitfarms is a world, publicly traded (NASDAQ/TSX: BITF) Bitcoin self-mining firm. Bitfarms runs vertically built-in mining operations with in-house administration and company-owned electrical engineering, set up service, and onsite technical restore. The Companyâs proprietary information analytics system delivers best-in-class operational efficiency and uptime. Bitfarms has 10 mining services around the globe, that are situated in 4 nations: Canada, the USA, Paraguay, and Argentina. Powered by predominantly environmentally pleasant hydro-electric and long-term energy contracts, Bitfarms is dedicated to utilizing renewable, domestically based mostly, and infrequently underutilized power infrastructure. To study extra about Bitfarmsâ occasions, developments, and on-line communities: Web site:Â <a target="_blank" href="https://www.globenewswire.com/Tracker?data=adLprFPSNPmQX_0OK8i_clPciyWkvuFt_KnEO7y9ZsyTgOeAyymjbn0-aEABpPKY-hc6W_JxL4yCDuWMG_vA7prcp4H6FKsZ-84Pe5X9rUVQGM-P1eY0YvP2DWkBcu5e-9PttZUTyPgzgzgEaBHb3M_el5eA7OuknsgSaD9vanxOw26R4uYXUYt9WF5O8_aIOmhcpaoL5oz7CtRXUbI5wUbpjjZIswckKkQqkTMTZ_utH-G6sQExYCGEhLLzMBVa2ER_a_z7MJw60CZP1rGx3PxEFc3qpfhrdiX5Dp4ERKXe77sLED9hpYvX-SKURtu871sPGmciudPwh1Av3AaGUA==" rel="nofollow noopener">www.bitfarms.com</a> <a target="_blank" href="https://www.globenewswire.com/Tracker?data=xMSBKFZUU2EMysaDj72DyJ781MnpJ4fkd_nari-RJHqVe9IXcP9wm7KypFpz_vvt-a8wyOefzVeCBdVSPKXXTKsMIqFjGalOrKSTVRqN86GAW6QUUwjH0n8OzRwlyLHxr4diR0F2rWoF_Z5rK9_BsvbrXy-uxfgpiZCE2WJ1wFEnTlMitsOmmbiaOKs3RruW9wXRGHU3Z89bs4Xek2pdgfoXiPDUUuVGJslQs6mIcUpKtDiBAPoGwGzMB2hO1kwTdULsVkpvyVwwdblf5dMi1Jb3p75sdcwiv84vFRwxxn0SNRsMmYhJffbU_zTWHCfLRAjWdrniV4QvpJ1BBmxba4P0a-j0hnWC8Kq5bcj6oxGdMyOZ6xECxxV5NQYRuGyRK-9yTmZUaxxGLH_MVAun7A==" rel="nofollow noopener">https://www.facebook.com/bitfarms/</a> <a target="_blank" href="https://www.globenewswire.com/Tracker?data=xMSBKFZUU2EMysaDj72DyAo7F1iQPa28_gkSBYAcKme2Z1XxPWTDJ5WD0RpIDmkKvBFK8Hc-nGHTIJHoa67UVI0E7iFjednOZXUTRfZko9hbsCaT2sYlI1dZrhhn0eNmJNV78jjTzf3UH0sL6ucth-QV1C6UyiR7GoDhjTqGTjZjxQSKXLAmV-BNw-cwSkxvZRJx78VvBWFtMydpW8yvZRbxi5cKK1c6yWNl_CN3bRk_fHsEzXWHy4F6In9rjjzWjW7XtGFW4czAvfBUcgcIwNDQCmdd_jhhX8K38HGcIpyxqqvzJrY516RD6n2CHeO3pmwgzMmHLjvm8e5oWakHNDBPgORyLY_mH_Bq_-pFHEmk2D5k_sOh_HiLKEwEpcWU8krpRZ2ZbSpNS5OTyZd_Sw==" rel="nofollow noopener">https://twitter.com/Bitfarms_io</a> <a target="_blank" href="https://www.globenewswire.com/Tracker?data=xMSBKFZUU2EMysaDj72DyCZd7b0aPZG9sxqvLyuFl7rf18vQGWyMJQC3qE7NF0lH40aCzDnBEtOakhHVym2ahMSREkKAmP9_e7-_NY1WKc5vfkcAjUcU40Y1W0a0RHwgKnVe9gPmz68TjMZ-9Tn1-RprqBlFDhca36VgDOFaygjg8E6UFfsp9KEWgFbQYFQlWMUl9jLTOCwdynqeBxNBJGxbyV5-bRfhhNkjqzcR86wZK5UL_xJH9MwvRBy6gjSgbO-Fl79xCnIcGzecTfT6bbtKS0xkwP0KAXFgFIrN4AU32BR6XXzsnuK9N_jOL6lOsNZnAQ9fHSaf7MxmmdckFHvm5lu02OcqfFdUAw0w1IVZjUh1kpGVaWhnHLNc4O7MbbNGiqt7XTYx93_f6PLsUMLzgnAC9PKlnUBMkAH3fSg=" rel="nofollow noopener">https://www.instagram.com/bitfarms/</a> <a target="_blank" href="https://www.globenewswire.com/Tracker?data=xMSBKFZUU2EMysaDj72DyO9Pq2dmDbMSbS6Ex8J1OEfynpHJeKoDEFupEqtFyenRrvBcX8YlnsTHJzu7AxCd7d1kcAGHnTJv7bY71r_TtG7QWQ5xmRMyqMONUQSkHx77DcJ_NeYK64xS4YbU-Z9zqHUakBxFF_5Ha-CeU8XgP9YAf5IFvgvYH2-6xTSKC0UQyHwxrFQ_5HQsNRPP6yLNi5NZYJV2bYw6QQ7O3XVftUpLbjMrEQEjt53_EBMtodEZdB_EAHLD2mkLePWzkPeNmuYsrHqK6EtpzVMREua7DEFm2T2BcZOY08jWG5gihbQXzn6ylbhzhzcGW8Uc9GVBFKnkT6B3OLmcOOWaSeIxghsQgv3I24wGitj12DhmB_40hX407fnCzLKpi33o6iH0ywb8r6fm0fBXUuuY9-901Q8U4ZCmYnmcnfg_BqMzWXRj" rel="nofollow noopener">https://www.linkedin.com/company/bitfarms/</a> Glossary of Phrases <ul><li>BTC BTC/day = Bitcoin or Bitcoin per day</li><li>EH or EH/s = Exahash or exahash per second</li><li>MW or MWh = Megawatts or megawatt hour</li><li>PH or PH/s = Petahash or petahash per second</li><li>TH or TH/s = Terahash or terahash per second</li></ul>Cautionary Assertion Buying and selling within the securities of the Firm ought to be thought-about extremely speculative. No inventory change, securities fee or different regulatory authority has permitted or disapproved the knowledge contained herein. Neither the Toronto Inventory Alternate, Nasdaq, or another securities change or regulatory authority accepts duty for the adequacy or accuracy of this launch. Ahead-Wanting Statements This information launch accommodates sure âforward-looking informationâ and âforward-looking statementsâ (collectively, âforward-looking informationâ) which might be based mostly on expectations, estimates and projections as on the date of this information launch and are coated by secure harbors below Canadian and United States securities legal guidelines. The statements and knowledge on this launch concerning ongoing operational and monetary efficiency, debt discount and liquidity, administration of Bitcoin holding, and different future plans and aims of the Firm are forward-looking data. Different forward-looking data contains, however shouldn't be restricted to, data regarding: the intentions, plans and future actions of the Firm, in addition to Bitfarmsâ means to efficiently mine digital foreign money, income rising as presently anticipated, the flexibility to profitably liquidate present and future digital foreign money stock, volatility of community problem and digital foreign money costs and the potential ensuing important detrimental affect on the Companyâs operations, the development and operation of expanded blockchain infrastructure as presently deliberate, and the regulatory surroundings for cryptocurrency within the relevant jurisdictions. Any statements that contain discussions with respect to predictions, expectations, beliefs, plans, projections, aims, assumptions, future occasions or efficiency (usually however not all the time utilizing phrases comparable to âexpectsâ, or âdoesn't expectâ, âis expectedâ, âanticipatesâ or âdoesn't anticipateâ, âplansâ, âbudgetâ, âscheduledâ, âforecastsâ, âestimatesâ, âbelievesâ or âintendsâ or variations of such phrases and phrases or stating that sure actions, occasions or outcomes âmayâ or âcouldâ, âwouldâ, âmightâ or âwillâ be taken to happen or be achieved) will not be statements of historic reality and could also be forward-looking data and are meant to determine forward-looking data. This forward-looking data relies on assumptions and estimates of administration of the Firm on the time they have been made, and entails recognized and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency, or achievements of the Firm to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking data. Such elements embody, amongst others, dangers regarding: the provision of financing alternatives, dangers related to financial situations, dependence on administration and conflicts of curiosity, the flexibility to service debt obligations and keep flexibility in respect of debt covenants; financial dependence on regulated phrases of service and electrical energy charges; the speculative and aggressive nature of the expertise sector; dependency on continued development in blockchain and cryptocurrency utilization; lawsuits and different authorized proceedings and challenges; battle of pursuits with administrators and administration; authorities rules; the worldwide financial local weather; dilution; the Companyâs restricted working historical past; future capital wants and uncertainty of further financing, together with the Companyâs means to make the most of the Companyâs at-the-market fairness providing program (the âATM Programâ) and the costs at which the Firm could promote Frequent Shares within the ATM Program, in addition to capital market situations generally; dangers regarding the technique of sustaining and rising Bitcoin holdings and the affect of depreciating Bitcoin costs on working capital; the aggressive nature of the trade; foreign money change dangers; the necessity for the Firm to handle its deliberate development and enlargement; the results of product growth and want for continued expertise change; the flexibility to take care of dependable and economical sources of energy to run its cryptocurrency mining belongings; the affect of power curtailment or regulatory modifications within the power regimes within the jurisdictions through which the Firm operates; safety of proprietary rights; the impact of presidency regulation and compliance on the Firm and the trade; community safety dangers; the flexibility of the Firm to take care of correctly working techniques; reliance on key personnel; world financial and monetary market deterioration impeding entry to capital or rising the price of capital; share dilution ensuing from the ATM Program and from different fairness issuances; and risky securities markets impacting safety pricing unrelated to working efficiency. As well as, specific elements that would affect future outcomes of the enterprise of Bitfarms embody, however will not be restricted to: the development and operation of services could not happen as presently deliberate, or in any respect; enlargement could not materialize as presently anticipated, or in any respect; the digital foreign money market; the flexibility to efficiently mine digital foreign money; income could not improve as presently anticipated, or in any respect; it might not be attainable to profitably liquidate the present digital foreign money stock, or in any respect; a decline in digital foreign money costs could have a major detrimental affect on operations; a rise in community problem could have a major detrimental affect on operations; the volatility of digital foreign money costs; the anticipated development and sustainability of hydroelectricity for the needs of cryptocurrency mining within the relevant jurisdictions; the shortcoming to take care of dependable and economical sources of energy for the Firm to function cryptocurrency mining belongings; the dangers of a rise within the Companyâs electrical energy prices, value of pure gasoline, modifications in foreign money change charges, power curtailment or regulatory modifications within the power regimes within the jurisdictions through which the Firm operates and the hostile affect on the Companyâs profitability; the flexibility to finish present and future financings, any rules or legal guidelines that may stop Bitfarms from working its enterprise; historic costs of digital currencies and the flexibility to mine digital currencies that might be in step with historic costs; an lack of ability to foretell and counteract the results of COVID-19 on the enterprise of the Firm, together with however not restricted to the results of COVID-19 on the worth of digital currencies, capital market situations, restriction on labour and worldwide journey and provide chains; and, the adoption or enlargement of any regulation or regulation that may stop Bitfarms from working its enterprise, or make it extra pricey to take action. For additional data regarding these and different dangers and uncertainties, check with the Companyâs filings on <a target="_blank" href="https://www.globenewswire.com/Tracker?data=hr5eKUkdWr2Y5HHGKkLUKgUegDXv2aOnOrdRaXPIhJVQvjh1vUe_IXS1dpuQFWsZn7_yo84kT49wjDx-yB95_Q==" rel="nofollow noopener">www.SEDAR.com</a> (that are additionally obtainable on the web site of the U.S. Securities and Alternate Fee at <a target="_blank" href="https://www.globenewswire.com/Tracker?data=ivFfBi2yvQIDMRbUe3AA1xij-4BPWay07ZNSdfPButJq1sPkWad3OAE2rF9D3pNYtpwgbgrtom2syBUAWx3xdQ==" rel="nofollow noopener">www.sec.gov</a>), together with the annual data type for the yr-ended December 31, 2022, filed on March 21, 2023. The Firm has additionally assumed that no important occasions happen outdoors of Bitfarmsâ regular course of enterprise. Though the Firm has tried to determine vital elements that would trigger precise outcomes to vary materially from these expressed in forward-looking statements, there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. There might be no assurance that such statements will show to be correct as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers shouldn't place undue reliance on any forward-looking data. The Firm undertakes no obligation to revise or replace any forward-looking data aside from as required by regulation<img alt="" data-mce-src="http://www.streetinsider.com/api/ImageRender/DownloadFile?resourceId=622822a0-efb8-4874-960c-dfdc6d88274e&size=3" height="1.0px" name="GNW_RichHtml_IMG" src="https://ml.globenewswire.com/Resource/Download/622822a0-efb8-4874-960c-dfdc6d88274e" width="1.0px"/>. Contacts: LHA Investor Relations David Barnard +1 415-433-3777 <a target="_blank" href="https://www.globenewswire.com/Tracker?data=J9GjwJYVuZw7_BctAliMB3FshPNAa3a0ZHjFzsHUerMXmFv-6zwNuKD0jXuz726fWhCZatQszuWU5cBfQEB28D3jGmQGw8G-eL7YlB9176g=" rel="nofollow noopener">[email protected]</a> Precise Company Lisa Helfer +1 646-373-9946 <a target="_blank" href="https://www.globenewswire.com/Tracker?data=si_HvPFcf_1dFa5ho9veTnm3U_s4BiHrqH07wZyzzgBAv2RZDDpp5xzucWdwYYEljurYLD9NDUQcYPY7Rou7Sy8cCOP-TUk7VT7OP4ST1nSemHHPUCZjoOblTjBakONC" rel="nofollow noopener">[email protected]</a> QuÃ©bec Media: Tact Louis-Martin Leclerc +1 418-693-2425 <a target="_blank" href="https://www.globenewswire.com/Tracker?data=tfaqnvja_uV3ytg2MeuCBbNLtOwZl4MWW8PFp8ZpeHhB9XymVYRRJWR-jp5phVR00NSVxoKeA8vXqbWmEZECbEC-9Fi3FbBT0vCQDFYwwaI=" rel="nofollow noopener">[email protected]</a>Â <img class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=ODgwMDMxOSM1NTA1MzU1IzIxOTY4MDA="/> <img src="https://ml.globenewswire.com/media/ODA3YzY5NzctNWQyMS00YjczLTkwNjMtMTYwNTBjOWI5NGEyLTEyMDgzNTM=/tiny/Bitfarms-Ltd-.png" referrerpolicy="no-referrer-when-downgrade"/> </div><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script><script type="text/javascript"> window.fbAsyncInit = function() { FB.init({ appId : '415409898518774', // App ID channelUrl : '//www.streetinsider.com/fbchannel.php', // Channel File status : true, // check login status cookie : true, // enable cookies to allow the server to access the session xfbml : true, // parse XFBML oauth : true, version : 'v2.5' });

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