Overview

* Bitfarms ( BITF ) Q2 revenue up 87% Y/Y, but marginally misses analysts' expectations

* However, net loss widens to $29 mln from $27 mln

* Bitfarms ( BITF ) initiates share buyback, repurchases 10% of available shares

Outlook

* Bitfarms ( BITF ) plans to expand Panther Creek energy capacity to 300 MW by 2027

* Company expects to complete Argentina mining shutdown by Nov. 11, 2025

* Bitfarms ( BITF ) aims to redomicile to U.S. and adopt U.S. GAAP by end of 2025

* Company sees Panther Creek as key AI infrastructure hub

Result Drivers

* U.S. EXPANSION - Co expanded its energy portfolio in North America, with 82% of MWuM in the region and increased MWuD to 430 MW, focusing on U.S. growth

* ARGENTINA SHUTDOWN - Discontinuation of Argentina operations expected to yield $18 mln in proceeds, partially offsetting reduced EHuM

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $77.80 $77.90

Revenue mln mln (3

Analysts

)

Q2 EPS -$0.05

Q2 Net -$28.84

Income mln

Q2 $13.72

Adjusted mln

EBITDA

Q2 Gross -7.0%

Margin

Q2 -$39.63

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

* Wall Street's median 12-month price target for Bitfarms Ltd ( BITF ) is C$3.50, about 50.9% above its August 11 closing price of C$1.72

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)