Bitfarms Launches 49.9M Share Buyback, Shifts to AI & HPC

Bitfarms has launched a share buyback program, authorizing the repurchase of up to 49.9 million common shares—10% of its public float—on the TSX and Nasdaq over 12 months. The share buyback, approved by the Toronto Stock Exchange, aims to boost earnings per share and investor confidence, driving Nasdaq-listed shares up 16.8% at announcement. In Q1 2025, Bitfarms reported a US$36 million net loss due to compressed Bitcoin mining profitability after the 2024 halving, but improved its gross margin to 63%. To mitigate mining volatility, the company is pivoting to AI infrastructure and high-performance computing (HPC). It operates 15 Bitcoin mining data centres across four countries and is expanding its Pennsylvania sustainable energy portfolio. To support its AI and HPC transition, Bitfarms secured a US$300 million credit facility from Macquarie and sold its Paraguay mining site to Hive Digital for US$85 million to fund US-based AI data centre expansion. This diversification strategy aims to stabilize revenue and capture growth in the AI computing market.