Bitfarms Ltd. (1B2)

Overview

Bitfarms Ltd., founded in 2017 and headquartered in Toronto, Canada, plays a significant role in the cryptocurrency industry by engaging in the mining of cryptocurrency coins and tokens. Operating across Canada, the United States, Paraguay, and Argentina, Bitfarms Ltd. has established itself as a leading miner by owning and operating numerous server farms. These farms are specialized in validating transactions on the Bitcoin Blockchain, which in turn earns the company cryptocurrency through block rewards and transaction fees. Originally named Bitfarms Technologies Ltd, the company underwent a rebranding to Bitfarms Ltd. in October 2018, marking a new chapter in its business evolution. Beyond its core operations, Bitfarms also extends its expertise to commercial and residential electrician services in Quebec, demonstrating a diverse business model within the technology and energy sectors.

Products and Services

• Cryptocurrency Mining

  Bitfarms’ primary service is the mining of cryptocurrency coins and tokens. Leveraging state-of-the-art server farms located in Canada, the United States, Paraguay, and Argentina, the company focuses on validating transactions on the Bitcoin Blockchain. By ensuring the integrity of Bitcoin transactions, Bitfarms secures cryptocurrency in the form of block rewards and transaction fees, positioning itself as a key player in the digital currency ecosystem.

• Electrician Services

  In addition to cryptocurrency mining, Bitfarms offers specialized electrician services to both commercial and residential customers in Quebec, Canada. This facet of their business underscores Bitfarms' commitment to leveraging its technical expertise beyond the realm of cryptocurrency, encompassing a broader spectrum of electrical services. From installations to maintenance, Bitfarms caters to a variety of customer needs, further solidifying its standing in the electrical services industry.

• Hosting of Third-Party Mining Hardware

  Recognizing the potential to diversify its offerings, Bitfarms also engages in hosting services for third-party mining hardware. This extension allows other cryptocurrency miners to benefit from Bitfarms’ advanced infrastructure and expertise. By providing a platform for third-party hardware, Bitfarms facilitates a more inclusive mining community while generating additional revenue streams through hosting fees. This service underscores the company's role as an infrastructure provider within the digital currency mining sector.