Bitfarms Ltd
Bitfarms Ltd. operates integrated bitcoin data centers in Canada, the United States, Paraguay, and Argentina. It primarily owns and operates data centers housing computers to validate transactions on the bitcoin blockchain, as well as sells computational power used for hashing calculations for cryptocurrency mining in multiple jurisdictions. The company also provides electrician services to comme… Read more
Bitfarms Ltd (BITF) - Net Assets
Latest net assets as of September 2025: $611.36 Million USD
Based on the latest financial reports, Bitfarms Ltd (BITF) has net assets worth $611.36 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($801.28 Million) and total liabilities ($189.92 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $611.36 Million |
| % of Total Assets | 76.3% |
| Annual Growth Rate | 55.3% |
| 5-Year Change | 3836.01% |
| 10-Year Change | N/A |
| Growth Volatility | 776.36 |
Bitfarms Ltd - Net Assets Trend (2017–2024)
This chart illustrates how Bitfarms Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Bitfarms Ltd (2017–2024)
The table below shows the annual net assets of Bitfarms Ltd from 2017 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $608.00 Million | +106.27% |
| 2023-12-31 | $294.76 Million | +15.41% |
| 2022-12-31 | $255.40 Million | -28.86% |
| 2021-12-31 | $359.01 Million | +2224.12% |
| 2020-12-31 | $15.45 Million | -45.00% |
| 2019-12-31 | $28.09 Million | +36.01% |
| 2018-12-31 | $20.65 Million | -25.99% |
| 2017-12-31 | $27.90 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Bitfarms Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 6919.7% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $852.29 Million | 140.18% |
| Other Comprehensive Income | $22.70 Million | 3.73% |
| Other Components | $67.52 Million | 11.11% |
| Total Equity | $608.00 Million | 100.00% |
Bitfarms Ltd Competitors by Market Cap
The table below lists competitors of Bitfarms Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Chengdu Xingrong Investment Co Ltd
SHE:000598
|
$1.21 Billion |
|
STORSKOGEN GROUP AB SER.B
F:0VK
|
$1.21 Billion |
|
Sandy Spring Bancorp Inc
NASDAQ:SASR
|
$1.21 Billion |
|
Bank of Maharashtra
NSE:MAHABANK
|
$1.22 Billion |
|
Hubei Jumpcan Pharmaceutical Co Ltd
SHG:600566
|
$1.21 Billion |
|
Jiangzhong Pharmaceutical Co Ltd
SHG:600750
|
$1.21 Billion |
|
City Developments Ltd
PINK:CDEVY
|
$1.21 Billion |
|
Ningbo Boway Alloy Material Co Ltd
SHG:601137
|
$1.21 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Bitfarms Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 294,762,000 to 607,995,000, a change of 313,233,000 (106.3%).
- Net loss of 54,063,000 reduced equity.
- New share issuances of 289,534,000 increased equity.
- Other comprehensive income increased equity by 19,754,001.
- Other factors increased equity by 58,007,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-54.06 Million | -8.89% |
| Share Issuances | $289.53 Million | +47.62% |
| Other Comprehensive Income | $19.75 Million | +3.25% |
| Other Changes | $58.01 Million | +9.54% |
| Total Change | $- | 106.27% |
Book Value vs Market Value Analysis
This analysis compares Bitfarms Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.62x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 4.85x to 1.62x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | $0.49 | $2.37 | x |
| 2018-12-31 | $0.27 | $2.37 | x |
| 2019-12-31 | $0.40 | $2.37 | x |
| 2020-12-31 | $0.18 | $2.37 | x |
| 2021-12-31 | $2.12 | $2.37 | x |
| 2022-12-31 | $1.23 | $2.37 | x |
| 2023-12-31 | $1.12 | $2.37 | x |
| 2024-12-31 | $1.47 | $2.37 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Bitfarms Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -8.89%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -28.03%
- • Asset Turnover: 0.29x
- • Equity Multiplier: 1.10x
- Recent ROE (-8.89%) is above the historical average (-30.54%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 18.21% | 56.62% | 0.26x | 1.24x | $2.29 Million |
| 2018 | -60.63% | -27.70% | 1.29x | 1.70x | $-10.91 Million |
| 2019 | 10.32% | 8.94% | 0.61x | 1.88x | $90.20K |
| 2020 | -105.45% | -46.94% | 0.67x | 3.35x | $-17.83 Million |
| 2021 | 6.16% | 13.06% | 0.31x | 1.51x | $-13.77 Million |
| 2022 | -68.77% | -123.32% | 0.42x | 1.34x | $-201.18 Million |
| 2023 | -35.29% | -71.08% | 0.39x | 1.28x | $-133.51 Million |
| 2024 | -8.89% | -28.03% | 0.29x | 1.10x | $-114.86 Million |
Industry Comparison
This section compares Bitfarms Ltd's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $277,925,984
- Average return on equity (ROE) among peers: -4.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Bitfarms Ltd (BITF) | $611.36 Million | 18.21% | 0.31x | $1.21 Billion |
| Armada Mercantile Ltd (AAMTF) | $197.80K | -9.79% | 0.44x | $3.53 Million |
| ABG Sundal Collier Holding ASA (ABGSF) | $1.65 Billion | 37.94% | 2.19x | $207.31 Million |
| Athena Bitcoin Global (ABIT) | $-1.06 Million | 0.00% | 0.00x | $16.38 Million |
| ABS-CBN Holdings Corporation (ABSOF) | $0.00 | 0.00% | 0.00x | $5.67 Million |
| American Bitcoin Corp (ABTC) | $1.02 Billion | 42.26% | 0.09x | $204.84 Million |
| Abits Group Inc. (ABTS) | $6.57 Million | -41.72% | 0.18x | $4.62 Million |
| Argentex Group PLC (AGXTF) | $43.40 Million | -3.00% | 2.61x | $4.51 Million |
| Sphere 3D Corp (ANY) | $40.32 Million | -58.05% | 0.24x | $4.44 Million |
| Argo Blockchain PLC (ARBKF) | $27.19 Million | -15.14% | 0.01x | $2.16 Million |
| Arcane Crypto AB (ARCNF) | $-17.00K | 0.00% | 0.00x | $1.38 Million |