Bitfarms Ltd. engages in cryptocurrency mining, primarily validating Bitcoin transactions in North America. While it boasts a strong liquidity position with a current ratio of 16.26, its financial health is concerning, highlighted by a gross margin of -285.1% and a net margin of -213.6%. The high EBITDA margin of 73.4% contrasts sharply with its negative profitability metrics, indicating potential operational inefficiencies or high costs. Overall, while liquidity is robust, the company faces significant profitability challenges that warrant caution for investors.
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Revenue fell 38.1% year-over-year from $245.7M to $152.1M. The decline has persisted for multiple quarters.
Company posted a loss of $-356.3M over the last year, representing 234.3% of revenue.
Operating cash flow has been negative for 3 consecutive quarters, burning $251.1M over the last year.
Debt increased 1286.2% from $74.9M to $1.0B while revenue growth remained modest.
Excellent liquidity with current ratio of 16.3x ensures operational stability.
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Based on 2026-Q2 (June 30, 2026)