Bitfarms: Mining Bitcoin and Powering AI

Bitfarms Announces Share Buyback Program

Bitcoin mining powerhouse Bitfarms is shaking things up with a brand new share buyback initiative. They’ve got the green light to purchase back as much as 49.9 million common shares—essentially 10% of what is on the market available in the market—over the approaching 12 months.

The buyback program has gotten the nod from the Toronto Stock Exchange (TSX) and includes purchases made on each the TSX and Nasdaq. Following this news, Bitfarms’ shares on Nasdaq jumped by 16.8%.

Buyback Details and Market Impact

There’s a day by day cap on how much they should buy on the TSX—494,918 shares, which amounts to 25% of the common day by day trading volume over the past half-year. Over on Nasdaq, they cannot exceed 5% of the outstanding shares in the course of the duration of this system.

During this buyback period, running from July 28, 2025, to July 27, 2026, Bitfarms will purchase shares at market price. All shares they buy back will probably be canceled, reducing the variety of shares in circulation and possibly boosting the worth of the remaining shares for investors.

CEO’s Take on the Move

CEO Ben Gagnon believes this buyback reflects confidence in Bitfarms’ future and suggests that the corporate’s stock is undervalued. He’s particularly enthusiastic about their ventures into high-performance computing (HPC) and AI data centers, especially with the energy assets they’ve in Pennsylvania.

The Evolution of Bitfarms: From Bitcoin Mining to AI

Founded in 2017, Bitfarms has grown to operate 15 Bitcoin mining data centers across the United States, Canada, Argentina, and Paraguay. They trade under the ticker BITF on each the TSX and Nasdaq.

Shifting Gears to AI and HPC

Recently, Bitfarms has been rebranding itself from a pure Bitcoin mining company to 1 that powers AI applications. This shift is a response to the 2024 Bitcoin halving, which hit miners’ profits hard, prompting many to explore recent revenue streams like AI data center hosting.

In fact, a Coin Metrics report in March highlighted this trend, showing miners increasingly turning to AI hosting to raised leverage their existing infrastructure.

Financial Challenges and Strategic Moves

Bitfarms has faced some financial hurdles, reporting a $36 million net loss in the primary quarter of 2025, in comparison with a $6 million loss in the identical period in 2024. Their gross profit margin also slipped to 63% from 43% year-over-year, illustrating the financial impact of the Bitcoin halving.

Still, Bitfarms is making strategic moves, securing a $300 million credit line from Macquarie to expand its HPC facility in Pennsylvania, and selling its Paraguay mining site to Hive Digital for $85 million. Gagnon notes, “During the quarter, we executed across several key areas in our strategic pivot to the US and HPC.”

Bitfarms by the Numbers

In 2025, Bitfarms managed to mine 693 Bitcoins at a mean direct production cost of $47,800 per Bitcoin.

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