Bitfarms Ltd.

NasdaqGM:BITF Stock Report

Market Cap: US$806.1m

Bitfarms Management

Management criteria checks 2/4

Bitfarms' CEO is Ben Gagnon, appointed in Jul 2024, has a tenure of less than a year. total yearly compensation is $679.41K, comprised of 34% salary and 66% bonuses, including company stock and options. directly owns 0.021% of the company’s shares, worth $170.57K. The average tenure of the management team and the board of directors is 1.8 years and 0.4 years respectively.

Key information

Ben Gagnon

Chief executive officer

US$679.4k

Total compensation

CEO salary percentage34.0%
CEO tenureless than a year
CEO ownership0.02%
Management average tenure1.8yrs
Board average tenureless than a year

Recent management updates

Recent updates

Bitfarms: Takeover Abated, Still A Work In Progress

Nov 14

Bitfarms: Buy The Takeover Truce?

Oct 09

Bitfarms: The Would-Be Hunter Became The Hunted, Riot's Offer Was Fair

Sep 18

Bitfarms: Blend Of Good And Bad News Makes For A Riveting Hold

Aug 28

Bitfarms: Good Q1, But Recent Troubles Create Concerns

Jun 14

Bitfarms: A Bidding War Could Be Brewing

Jun 03

Bitfarms Q1 2024 Earnings: Is The Worst Over? (Rating Downgrade)

May 16

Bitfarms: Efficiency Deserves A Price Premium

Apr 29

Not A Buy Until Bitfarms Makes Money

Mar 21

Don't Bet The Farm On Bitfarms

Mar 11

Bitfarms: The Adverse Ripple Effect Of 'Slow And Steady'

Feb 02

Bitfarms: Slow And Steady Lose The Race

Jan 26

Bitfarms mines 10% less bitcoins in September, sells 544 BTC

Oct 03

Bitfarms tops 4 EH/s hashrate as production kicks off at Rio Cuarto warehouse

Sep 19

Revisiting Bitfarms After Its Outstanding Second Quarter

Aug 30

Bitcoin falls toward $21K, pulling down Hut 8, Marathon Digital, Riot shares

Aug 19

Bitfarms Q2 2022 Earnings Preview

Aug 12

Bitfarms records 270% increase in July hashrate and 28% growth in new mined bitcoin

Aug 01

Bitfarms In Distress But Still Functional

Jul 09

CEO Compensation Analysis

How has Ben Gagnon's remuneration changed compared to Bitfarms's earnings?
DateTotal CompensationSalaryCompany Earnings
Sep 30 2024n/an/a

-US$131m

Jun 30 2024n/an/a

-US$106m

Mar 31 2024n/an/a

-US$106m

Dec 31 2023US$679kUS$231k

-US$109m

Sep 30 2023n/an/a

-US$314k

Jun 30 2023n/an/a

-US$69m

Mar 31 2023n/an/a

-US$184m

Dec 31 2022US$987kUS$188k

-US$176m

Sep 30 2022n/an/a

-US$213m

Jun 30 2022n/an/a

-US$104m

Mar 31 2022n/an/a

US$34m

Dec 31 2021US$2mUS$158k

US$22m

Sep 30 2021n/an/a

US$7m

Jun 30 2021n/an/a

-US$21m

Mar 31 2021n/an/a

-US$21m

Dec 31 2020US$247kUS$129k

-US$16m

Compensation vs Market: Ben's total compensation ($USD679.41K) is below average for companies of similar size in the US market ($USD3.22M).

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

CEO

Ben Gagnon

less than a year

Tenure

US$679,412

Compensation

Mr. Benjamin Gagnon, also known as Ben, is Chief Executive Officer of Bitfarms Ltd. from July 8, 2024 and serves as its Director since August 12, 2024. Mr. Gagnon was Chief Mining Officer of Bitfarms Ltd....

Leadership Team

NamePositionTenureCompensationOwnership
Benjamin Gagnon
CEO & Directorless than a yearUS$679.41k0.021%
$ 170.6k
Jeffrey Lucas
Chief Financial Officer3.5yrsUS$2.61m0.018%
$ 142.2k
Liam Wilson
Chief Operating Officerless than a yearno datano data
Marc-Andre Ammann
Senior Vice President of Finance & Accounting2.6yrsno datano data
Tracy Krumme
Senior VP and Head of Investor Relations & Corp. Comms.less than a yearno datano data
Philippe Fortier
Executive Vice President of Corporate Development2.9yrsno data0.0011%
$ 8.5k
Andrea Souza
Senior Vice President of Human Resources2.8yrsno datano data
Paul Magrath
Vice President of Taxation & Sustainability2.9yrsno data0.0023%
$ 18.5k
Alex Brammer
Senior Vice President of Global Mining Operationsless than a yearno datano data
Rachel Silverstein
U.S. General Counselless than a yearno data0.00029%
$ 2.3k
Patricia Osorio
VP & Corporate Secretary2.9yrsno datano data
Guillaume Reeves
Vice President of Information Technologyless than a yearno datano data

1.8yrs

Average Tenure

56yo

Average Age

Experienced Management: BITF's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Benjamin Gagnon
CEO & Directorless than a yearUS$679.41k0.021%
$ 170.6k
Brian Howlett
Independent Chairman4.7yrsUS$815.47k0.0021%
$ 17.1k
Amy Freedman
Independent Directorless than a yearno datano data
Edith Hofmeister
Independent Director2.1yrsUS$401.97kno data
Andrew Chang
Independent Directorless than a yearno datano data
Fanny Philip
Independent Directorless than a yearno datano data

0.4yrs

Average Tenure

Experienced Board: BITF's board of directors are not considered experienced ( 0.4 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 08:45
End of Day Share Price 2024/12/24 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Bitfarms Ltd. is covered by 11 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Brian KinstlingerAlliance Global Partners
Martin TonerATB Capital Markets
Lucas PipesB. Riley Securities, Inc.