Mining company Bitfarms releases Q1 2025 financial report, with net loss of US$36 million

PANews reported on May 14 that Bitfarms, a listed mining company in Nasdaq, announced its Q1 financial report for 2025. The company's revenue for the quarter was US$67 million, a year-on-year increase of 33%; the gross profit margin of Bitcoin mining fell to 43%, lower than 63% in the same period last year; the net loss reached US$36 million, an increase of nearly 5 times year-on-year. As of May 13, the company's current assets were approximately US$150 million, and the total number of Bitcoins held was 1,166. In addition, the company is advancing its transformation to its high-performance computing (HPC) business and signed a $300 million private bond financing agreement with Macquarie Group for the construction of the Panther Creek data center project in the United States.