08:13 AM EST, 11/13/2025 (MT Newswires) -- Bitfarms ( BITF ) , down 14% in U.S. pre-market trading, said Thursday that third-quarter net loss nearly doubled while revenue jumped.

Net loss widened to US$46 million, or $0.08 per share, from a net loss of $24 million, or $0.05 per share, in the prior year period. The result missed the consensus analyst estimate of a loss of $0.02 per share, according to FactSet.

Revenue surged 156% to $69 million but missed analyst expectations of $87.4 million.

Bitfarms ( BITF ) separately announced that its 18 MW Bitcoin mining facility in Washington state will be the first site fully converted to support HPC/AI workloads with up to 190KW per rack and advanced liquid cooling. Bitfarms ( BITF ) has signed a fully funded, binding agreement of US$128 million with an American multinational provider of critical infrastructure and services for data centers.

The partner will supply all critical IT equipment and building materials. The site is expected to be completed in December 2026.

Bitfarm shares are down $0.45, to $2.71 in New York trading.