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Q1 2025 Bitfarms Report: Net Loss of 36 Million USD
The Nasdaq-listed company, Bitfarms, has announced its Q1 2025 financial report with revenue reaching 67 million USD, an increase of 33% compared to the same period last year. However, the gross margin from Bitcoin mining only reached 43%, down from 63% last year. The company's net loss amounted to 36 million USD, nearly five times that of the same period last year. As of May 13, the company's current assets are approximately 150 million USD, and its Bitcoin reserves stand at 1,166 BTC.
In addition, Bitfarms is transitioning to the high-performance computing (HPC) sector. The company has signed a private debt agreement worth 300 million USD with Macquarie Group to build the Panther Creek data center project in the United States. This information is provided solely for market information purposes and is not investment advice.
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