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

Nasdaq listed mining company Bitfarms has released its Q1 2025 financial report. The company's quarterly revenue was $67 million, a year-on-year increase of 33%; The gross profit margin of Bitcoin mining has dropped to 43%, lower than the 63% in the same period last year; The net loss reached 36 million US dollars, an increase of nearly 5 times year-on-year. As of May 13th, the company's current assets were approximately $150 million, and the total amount of Bitcoin held was 1166. In addition, the company is advancing its transformation into high-performance computing (HPC) business and has signed a $300 million private equity bond financing agreement with Macquarie Group for the construction of the Panther Creek data center project in the United States.