Bitfarms Launches 10% Share Buyback Amid Pivot to AI and HPC

Bitfarms has launched a 10% share buyback program to repurchase up to 49.9 million common shares, running from July 28, 2025 to July 27, 2026. The plan, approved on the TSX and Nasdaq, sets daily purchase limits but cancels all repurchased shares to boost shareholder value. CEO Ben Gagnon said the stock is undervalued and the share buyback reflects confidence in Bitfarms’ long-term growth. While the 2024 Bitcoin halving squeezed mining margins, Bitfarms reported a Q1 2025 net loss of $36 million, up from $6 million a year earlier. To support its strategic pivot from pure mining to AI infrastructure and high-performance computing (HPC) data centres in Pennsylvania, the company secured a $300 million credit facility from Macquarie. Bitfarms also sold its Paraguay mining site to Hive Digital for $85 million, further funding its U.S. expansion. The share buyback underscores Bitfarms’ shift towards diversified revenue streams in HPC and AI data centre operations.