Bitfarms Ltd.
2.39 %
-55.42 %
Yet to be announced
Company Overview
Bitfarms Ltd. is a global Bitcoin mining company that operates multiple industrial-scale Bitcoin mining facilities. The company focuses on mining Bitcoin using computing power through mining farms powered by clean energy sources. Their operations include facilities across North and South America.
Revenue Sources
PassBitfarms' primary business activity is Bitcoin mining, which involves using computing power to validate transactions on the Bitcoin network and earn Bitcoin as rewards. This activity involves the exchange of real assets and the provision of actual services to the Bitcoin network. The company's revenue is primarily derived from mining operations, which constitutes a legitimate business activity involving real asset exchange and value creation.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| June 30, 2024 | $41.54m | $65.5m | $2.04m | $349,000 | 4.92% | 0.53% |
| March 31, 2024 | $50.09m | $74.31m | $680,000 | $378,000 | 1.36% | 0.51% |
| Dec. 31, 2023 | $47.52m | $63.37m | - | $638,163 | 0.00% | 1.01% |
| Sept. 30, 2023 | $47.52m | $63.37m | - | $638,163 | 0.00% | 1.01% |
Based on the financial data from the last four quarters, both interest income and interest expense represent a small portion of the company's overall financial activity. Interest expense as a percentage of total expenses has consistently remained below the 5% threshold across all quarters examined. Similarly, interest income relative to total revenue remains minimal.
Operational Ethics
PassBased on available information from SEC filings and company materials, there is no evidence of significant ongoing associations with entities involved in human rights violations. The company's operations are primarily located in North and South America, with no indication of material ties to Israel or the Chinese Communist Party.
Comments