08:31 AM EDT, 07/28/2025 (MT Newswires) -- Bitfarms ( BITF ) , a global energy and compute infrastructure company, on Monday said the New York City office it acquired as part of the acquisition of Stronghold Digital Mining will be its second Principal Executive Office in its filings with the securities commissions in Canada and with the United States Securities and Exchange Commission.

The company said it also plans to prepare its financial statements under U.S. Generally Accepted Accounting Principles (U.S. GAAP) to better align with other companies within the industry.

The transition from IFRS Accounting Standards to U.S. GAAP is expected to begin with the annual consolidated financial statements for the fiscal year ending Dec. 31, 2025.

"Building off the successful rebalancing of our energy portfolio to ~70% North American MWs in Q1, these initiatives further advance our U.S. pivot and align with our HPC/AI growth strategy," said Bitfarms' ( BITF ) Chief Executive Officer, Ben Gagnon. "Maintaining a U.S.-based PEO and transitioning to U.S. GAAP is expected to simplify our reporting processes, reduce administrative and legal costs, broaden our U.S. investor base, and improve our eligibility for inclusion in certain stock indices, among other potential benefits. We believe this strategic transition will better position Bitfarms ( BITF ) to execute our HPC/AI growth strategy, driving improved operational efficiencies and maximizing shareholder value."

In U.S. pre-market trading, Bitfarms ( BITF ) was last seen up 0.8% to $1.24.