07:43 AM EDT, 03/27/2025 (MT Newswires) -- Bitfarms ( BITF ) , up 2.3% in New York trading, on Thursday reported a swing to a fourth-quarter profit as revenue jumped 21%.

The company reported a net profit of US$15 million, or US$0.03 per share compared with a net loss of US$62 million or US$0.21 per share in the previous corresponding quarter.

Total revenue increased 21%, to US$56 million.

"We've made significant progress with our mining operations over the past year, nearly tripling our hashrate and improving our efficiency by over 40%," said Alex Brammer, senior vice president. "This momentum continues to accelerate."

Bitfarms ( BITF ) was last seen up US$0.02, to US$1.01, in U.S. pre-market trading.