Bitfarms Registers 426% Revenue Growth In Q4 Backed By Increasing Hash Rate


20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


  • Bitfarms Ltd (NASDAQ:BITFreported fourth-quarter FY21 revenue growth of 426% year-on-year to $60 million. Revenues improved 33% Q/Q.
  • Bitfarms mined 1,045 Bitcoin (BTC) at an average cost of production of $8,000 per BTC.
  • The gross margin expanded by 4,100 bps to 65%. The gross mining margin improved by 3,100 bps to 84%.
  • The operating margin expanded by 2,200 bps to 25%. Adjusted EBITDA margin expanded 4,300 bps to 74%.
  • Bitfarms held $126 million in cash and 3,301 BTC valued at ~$153 million.
  • COO Geoff Morphy said, "We drove growth by increasing our hash rate 131% in 2021, and we estimate that we expanded our market share from ~0.6% share of the BTC network to ~1.2% share from year-end 2020 to year-end 2021. From our original base of operations in Canada, we have made significant investments in the United States, Paraguay, and Argentina."
  • The crypto-related stocks traded higher in sympathy with the Bitcoin and Ethereum prices.
  • Price Action: BITF shares traded higher by 8.04% at $4.03 in the premarket on the last check Monday.

20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

Posted In: EarningsNewsPenny StocksSmall CapTechBriefs