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Bitfarms Ltd. (BITF) 10-Year Financial Performance & Capital Metrics

BITF • • Banking & Credit
Financial ServicesCapital MarketsBitcoin Mining and Data Centers
AboutBitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in North America. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada. It also undertakes hosting of third-party mining hardware. The company was founded in 2017 and is headquartered in Toronto, Canada.Show more
  • Net Interest Income $4M +261.7%
  • Total Revenue $193M +31.8%
  • Net Income -$54M +50.4%
  • Return on Equity -11.98% +69.8%
  • Net Interest Margin 0.64% +191.7%
  • Efficiency Ratio 38.99% +12.7%
  • ROA -10.33% +65.8%
  • Equity / Assets 91.07% +17.0%
  • Book Value per Share 1.47 +30.4%
  • Tangible BV/Share 1.46 +31.2%
  • Debt/Equity 0.04 -42.9%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Efficient operations: 39.0% efficiency ratio
  • ✓Momentum leader: RS Rating 85 (top 15%)
  • ✓Well capitalized: 91.1% equity/assets
  • ✓Diversified revenue: 96.9% from non-interest income

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Weak NIM of 0.6%
  • ✗Shares diluted 58.1% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y42.85%
3Y4.4%
TTM-

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-2.94%

EPS CAGR

10Y-
5Y-
3Y-
TTM32.61%

ROCE

10Y Avg-20.39%
5Y Avg-24.28%
3Y Avg-44.81%
Latest-22.86%

Peer Comparison

Bitcoin Mining and Data Centers
Select Columns
Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
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TTM Growth
Famous Investor Metrics
Dividends
Latest Quarter
Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
IRENIREN Limited13.61B40.95105167.65%17.35%-0.64%0.53
RIOTRiot Platforms, Inc.6.05B16.2947.9134.2%29.05%4.68%0.20
BTBTBit Digital, Inc.537.95M1.678.35264.59%17.29%13.1%0.03
FUFUBitFuFu Inc.386.56M2.377.1863.08%11.65%11.43%0.22
ABTCAmerican Bitcoin Corp199.29M1.022.1710.09%6%-17.73%0.01
BMNRBitmine Immersion Technologies, Inc.7.75B18.981.4284.12%57.19%-43.15%
CLSKWCleanSpark, Inc.88.85M0.310.28102.21%47.56%-18.88%0.38
ARBKArgo Blockchain plc954.21K2.86-0.01-15.95%-113.58%

Compare BITF vs Peers

Analyze head-to-head performance against top industry competitors across valuation, growth, and profitability metrics.

vs IREN

Compare head-to-head with IREN Limited

vs BMNR

Compare head-to-head with Bitmine Immersion Technologies, Inc.

Compare Top 5

vs IREN, BMNR, WULF, CIFR

Profit & Loss

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Net Interest Income+0-63K-3.27M-6.1M-3.42M-13.77M-2.66M4.3M
NII Growth %---5087.3%-86.78%43.97%-302.49%80.68%261.68%
Net Interest Margin %--------
Interest Income00000456K1.42M6.04M
Interest Expense063K3.27M6.1M3.42M14.22M4.08M1.74M
Loan Loss Provision1.4M22.86M17.71M25.73M54.95M117.69M163.79M223.5M
Non-Interest Income+8.97M33.8M32.42M34.7M169.49M141.97M144.95M186.84M
Non-Interest Income %--------
Total Revenue+8.97M33.8M32.42M34.7M169.49M142.43M146.37M192.88M
Revenue Growth %-276.68%-4.09%7.04%388.4%-15.97%2.76%31.78%
Non-Interest Expense177.15K28.88M10.04M9.6M47.48M294.54M50.63M75.2M
Efficiency Ratio--------
Operating Income+7.4M-18M1.4M-6.73M63.64M-284.02M-72.13M-107.56M
Operating Margin %--------
Operating Income Growth %--343.22%107.77%-581.13%1045.48%-546.29%74.6%-49.13%
Pretax Income+7.14M-18.18M-484K-16.12M42.64M-193.06M-109.32M-68.35M
Pretax Margin %--------
Income Tax+2.05M59K-2.59M172K20.51M-17.41M-401K-14.29M
Effective Tax Rate %--------
Net Income+5.08M-9.36M2.9M-16.29M22.13M-175.64M-108.92M-54.06M
Net Margin %--------
Net Income Growth %--284.26%130.96%-661.88%235.86%-893.69%37.99%50.37%
Net Income (Continuing)5.08M-18.24M2.11M-16.29M22.13M-175.64M-108.92M-54.06M
EPS (Diluted)+0.09-0.160.03-0.190.13-1.15-0.42-0.13
EPS Growth %--279.57%118.56%-739.73%168.42%-984.62%63.48%69.05%
EPS (Basic)0.09-0.160.03-0.190.14-1.15-0.42-0.13
Diluted Shares Outstanding57.05M56.92M71.06M84.92M169.39M207.78M262.24M414.67M

Balance Sheet

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash & Short Term Investments+4.52M552K2.16M5.95M191.63M35.44M84.04M146.84M
Cash & Due from Banks4.52M552K2.16M5.95M125.59M30.81M84.04M59.54M
Short Term Investments000066.03M4.63M087.3M
Total Investments+000066.03M4.63M087.3M
Investments Growth %------92.98%-100%-
Long-Term Investments00000000
Accounts Receivables0912K1.55M1.1M1.04M701K714K1.26M
Goodwill & Intangibles+--------
Goodwill000016.95M000
Intangible Assets4.72M1.01M675K377K1.68M33K3.7M4.04M
PP&E (Net)21.34M20.86M44.13M41.22M146.25M268.02M200.33M423.4M
Other Assets01.06M1.5M942K86.68M5.96M44.71M26.47M
Total Current Assets8.48M3.29M6.55M9.17M287.13M69.09M129.98M213.71M
Total Non-Current Assets26.06M22.94M46.31M42.54M255.46M274.01M248.74M453.91M
Total Assets+34.55M26.23M52.86M51.7M542.59M343.1M378.73M667.62M
Asset Growth %--24.07%101.49%-2.18%949.41%-36.77%10.38%76.28%
Return on Assets (ROA)14.71%-30.81%7.33%-31.16%7.45%-39.66%-30.18%-10.33%
Accounts Payable4.45M1.91M2.29M2.06M14.48M12.9M9.08M21.91M
Total Debt+01.72M22.19M28.37M84.74M65.01M19.87M23.41M
Net Debt-4.52M1.17M20.03M22.42M-40.85M34.2M-64.17M-36.13M
Long-Term Debt0693K14.85M174K910K4.09M01.43M
Short-Term Debt01.02M874K17.17M70.26M43.05M4.02M146K
Other Liabilities207K232K193K209K239K1.98M1.82M2.11M
Total Current Liabilities5.74M4.66M4.01M28.48M164.75M67.41M69.15M36.27M
Total Non-Current Liabilities909K925K20.76M7.78M18.83M20.29M14.81M23.35M
Total Liabilities6.64M5.58M24.77M36.26M183.58M87.7M83.96M59.62M
Total Equity+27.9M20.65M28.09M15.45M359.01M255.4M294.76M608M
Equity Growth %--25.99%36.01%-45.01%2224.12%-28.86%15.41%106.27%
Equity / Assets (Capital Ratio)--------
Return on Equity (ROE)18.21%-38.57%11.9%-74.83%11.82%-57.18%-39.6%-11.98%
Book Value per Share0.490.360.400.182.121.231.121.47
Tangible BV per Share--------
Common Stock115K162K30.48M32M354.71M404.93M535.01M852.29M
Additional Paid-in Capital22.88M03.47M5.59M25.84M47.65M56.62M67.52M
Retained Earnings4.91M-8.76M-5.86M-22.14M-21.55M-197.19M-299.81M-334.51M
Accumulated OCI04.39M3.47M5.59M002.94M22.7M
Treasury Stock00000000
Preferred Stock00000000

Cash Flow

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+7.94M13.76M6.02M7.22M-37.17M36.25M-105.71M-140.56M
Operating CF Growth %-73.21%-56.25%19.98%-614.61%197.52%-391.62%-32.97%
Net Income5.08M-18.24M2.11M-16.29M22.13M-239.05M-108.92M-54.06M
Depreciation & Amortization1.15M12.55M6.84M11.49M24.48M72.42M84.78M140.97M
Deferred Taxes727.25K-1.23M-1.6M1.44M8.84M-32.37M17.09M-15.8M
Other Non-Cash Items2.62M20.09M-1.17M5.14M-130.59M217.44M-110.82M-216.4M
Working Capital Changes994.52K-162K-3.03M3.24M15.39M-3.98M1.24M-9.22M
Cash from Investing+-14.19M-22.08M-22.36M-3.6M-215.15M-155.01M70.97M-178.39M
Purchase of Investments0000-6.69M-193.97M-36.26M-51.94M
Sale/Maturity of Investments00001000K1000K1000K1000K
Net Investment Activity--------
Acquisitions0569K1.45M925.43K-23M10.08M00
Other Investing0145K-32.87K-46.43K-5.04M416.04K717K5.46M
Cash from Financing+10.92M4.33M17.97M185K371.99M24.01M87.88M294.46M
Dividends Paid00000000
Share Repurchases00000000
Stock Issued10.92M2.94M4.94M54K259.17M54.09M109.07M289.53M
Net Stock Activity--------
Debt Issuance (Net)01000K1000K-1000K1000K1000K-1000K-1000K
Other Financing10.92M0100K2M63.32M-59.98M12.98M9.6M
Net Change in Cash+4.68M-3.97M1.61M3.79M119.65M-94.71M53.15M-24.5M
Exchange Rate Effect018K-23K-15K-21K43K18K-9K
Cash at Beginning2.78M4.52M552K2.16M5.95M125.59M30.89M84.04M
Cash at End7.46M552K2.16M5.95M125.59M30.89M84.04M59.54M
Interest Paid049K000000
Income Taxes Paid01.28M000000
Free Cash Flow+-6.24M-9.03M-17.76M2.74M-230.43M-158.73M-177.02M-480.42M
FCF Growth %--44.67%-96.66%115.42%-8512.78%31.12%-11.52%-171.4%

Banking Ratios

Metric20172018201920202021202220232024
Return on Equity (ROE)18.21%-38.57%11.9%-74.83%11.82%-57.18%-39.6%-11.98%
Return on Assets (ROA)14.71%-30.81%7.33%-31.16%7.45%-39.66%-30.18%-10.33%
Net Interest Margin0%-0.24%-6.18%-11.81%-0.63%-4.01%-0.7%0.64%
Efficiency Ratio1.97%85.42%30.97%27.67%28.01%206.8%34.59%38.99%
Equity / Assets80.77%78.73%53.14%29.88%66.17%74.44%77.83%91.07%
Book Value / Share0.490.360.40.182.121.231.121.47
NII Growth---5087.3%-86.78%43.97%-302.49%80.68%261.68%

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