Bitfarms released its Q4 2024 financial report, with revenue increasing by 21% year-on-year and computing power increasing by 186%.

PANews reported on March 28 that according to Bitfarms' latest financial report, its revenue in Q4 2024 was US$56 million, a year-on-year increase of 21%; the managed computing power (EHuM) reached 18.6 EH/s, an increase of 186%; the energy efficiency was increased to 19 w/TH, an improvement of 45%. The company completed the acquisition of Stronghold Digital Mining and sold the Yguazu 200 MW data center in Paraguay, with a total energy reserve of approximately 1.4 GW, 80% of which is located in the United States.

CEO Ben Gagnon said: Bitfarms has transformed into a North American energy and computing company. In the future, it will focus on HPC/AI business and continue to optimize asset allocation. CFO Jeff Lucas added: This acquisition and sale reduces capital expenditure requirements by 20% in 2025, which will help improve cash flow and operating profit margins. As of March 26, 2025, the company holds 1,093 BTC and has a total liquidity of approximately US$135 million.