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Market Cap

CA$743.9m

Last Updated

2021/04/19 22:37 UTC

Data Sources

Company Financials +

Executive Summary

Bitfarms Ltd., a blockchain infrastructure company, mines for cryptocurrency coins and tokens in North America. More Details


Snowflake Analysis

Mediocre balance sheet with weak fundamentals.


Similar Companies

Share Price & News

How has Bitfarms's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BITF is more volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 20% a week.

Volatility Over Time: BITF's weekly volatility (20%) has been stable over the past year, but is still higher than 75% of Canadian stocks.


Market Performance


7 Day Return

-30.8%

BITF

-1.0%

CA Software

0.6%

CA Market


1 Year Return

826.3%

BITF

63.3%

CA Software

38.5%

CA Market

Return vs Industry: BITF exceeded the Canadian Software industry which returned 63.3% over the past year.

Return vs Market: BITF exceeded the Canadian Market which returned 38.5% over the past year.


Shareholder returns

BITFIndustryMarket
7 Day-30.8%-1.0%0.6%
30 Day-34.3%5.4%2.0%
90 Day4.3%7.0%8.5%
1 Year826.3%826.3%71.3%63.3%43.2%38.5%
3 Yearn/a94.4%83.4%32.0%19.2%
5 Yearn/a212.8%192.2%57.6%33.4%

Long-Term Price Volatility Vs. Market

How volatile is Bitfarms's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Bitfarms undervalued compared to its fair value and its price relative to the market?

20.24x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BITF's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate BITF's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: BITF is unprofitable, so we can't compare its PE Ratio to the CA Software industry average.

PE vs Market: BITF is unprofitable, so we can't compare its PE Ratio to the Canadian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BITF's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BITF is overvalued based on its PB Ratio (23.6x) compared to the CA Software industry average (9.8x).


Future Growth

How is Bitfarms forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

27.2%

Forecasted Software industry annual growth in earnings


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if BITF's forecast earnings growth is above the savings rate (1.5%).

Earnings vs Market: Insufficient data to determine if BITF's earnings are forecast to grow faster than the Canadian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if BITF's revenue is forecast to grow faster than the Canadian market.

High Growth Revenue: Insufficient data to determine if BITF's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BITF's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Bitfarms performed over the past 5 years?

-664.3%

Last years earnings growth


Earnings and Revenue History

Quality Earnings: BITF is currently unprofitable.

Growing Profit Margin: BITF is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if BITF's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare BITF's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BITF is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (38.8%).


Return on Equity

High ROE: BITF has a negative Return on Equity (-105.45%), as it is currently unprofitable.


Financial Health

How is Bitfarms's financial position?


Financial Position Analysis

Short Term Liabilities: BITF's short term assets ($9.2M) do not cover its short term liabilities ($28.5M).

Long Term Liabilities: BITF's short term assets ($9.2M) exceed its long term liabilities ($7.8M).


Debt to Equity History and Analysis

Debt Level: BITF's debt to equity ratio (112.3%) is considered high.

Reducing Debt: Insufficient data to determine if BITF's debt to equity ratio has reduced over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable BITF has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: BITF is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 74% per year.


Dividend

What is Bitfarms's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate BITF's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BITF's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BITF's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BITF's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BITF's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.8yrs

Average management tenure


CEO

Emi Grodzki (44 yo)

1.08yrs

Tenure

US$174,800

Compensation

Mr. Emiliano Joel Grodzki, also known as Emi, has been the Chief Strategy Officer at Blockchain Mining Limited since March 7, 2018 and has also been its Director since February 19, 2018. Mr. Grodzki is a F...


CEO Compensation Analysis

Compensation vs Market: Emi's total compensation ($USD174.80K) is below average for companies of similar size in the Canadian market ($USD802.67K).

Compensation vs Earnings: Emi's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: BITF's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

Experienced Board: BITF's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BITF insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 71.4%.


Top Shareholders

Company Information

Bitfarms Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bitfarms Ltd.
  • Ticker: BITF
  • Exchange: TSXV
  • Founded: 2017
  • Industry: Application Software
  • Sector: Software
  • Market Cap: CA$743.937m
  • Shares outstanding: 145.02m
  • Website: https://www.bitfarms.com

Number of Employees


Location

  • Bitfarms Ltd.
  • 18 King Street East
  • Suite 902
  • Toronto
  • Ontario
  • M5C 1C4
  • Canada

Listings


Biography

Bitfarms Ltd., a blockchain infrastructure company, mines for cryptocurrency coins and tokens in North America. The company owns and operates server farms comprising computers that primarily validates tran...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/04/19 22:37
End of Day Share Price2021/04/19 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.