Bitfarms Suffers Wider Quarterly Loss, Driven by Shrinking Derivatives Gains

Bitfarms’ Q1 loss widened to $35.9 million, attributed largely to a decline in financial income and a decrease in derivative gains. Financial income plummeted to $2.1 million compared to $11.4 million in the same period last year. This was driven by reduced gains from warrant revaluations linked to Bitfarms’ private placement of 2023, as these liabilities declined at a slower pace than previously seen.