{"id":91030,"date":"2025-11-14T13:00:38","date_gmt":"2025-11-14T10:00:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=91030"},"modified":"2025-11-14T13:05:24","modified_gmt":"2025-11-14T10:05:24","slug":"bitfarms-reports-46-million-loss-and-shift-from-mining-to-ai","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitfarms-reports-46-million-loss-and-shift-from-mining-to-ai\/","title":{"rendered":"Bitfarms Reports $46 Million Loss and Shift from Mining to AI"},"content":{"rendered":"

Bitfarms announced<\/a> a gradual cessation of its cryptocurrency mining operations in favor of developing infrastructure for artificial intelligence.\u00a0<\/p>\n

The first step involves repurposing an 18 MW farm in Washington State. The new project plans for up to 190 kW per rack, with completion expected by December 2026.<\/p>\n

\n

\u201cAlthough this facility represents less than 1% of our overall portfolio, we believe its conversion to a ‘GPU-as-a-Service’ model could potentially yield more net operating profit than <\/em>Bitcoin mining<\/em><\/a>,\u201d said Bitfarms CEO Ben Gagnon.<\/em><\/p>\n<\/blockquote>\n

The firm has entered into an agreement with an unnamed American data center infrastructure provider. The deal is valued at $128 million.\u00a0<\/p>\n

The partner will supply IT equipment and construction materials for facilities with a total capacity of 18 MW.<\/p>\n

Bitfarms is expected to fully reorganize its business by 2027.\u00a0<\/p>\n

Mining Becomes Unprofitable\u00a0<\/h2>\n

The announcement coincided with the release of the third-quarter report. The company reported<\/a> a net loss of $46 million compared to $24 million the previous year.<\/p>\n

Bitfarms’ revenue grew by 156% year-on-year to $69 million, yet fell 16% short of analysts’ expectations.<\/p>\n

In the last quarter, the firm mined 520 BTC at an average cost of $48,200. It currently holds 1116 BTC (~$108 million at the current rate).\u00a0<\/p>\n

Bitfarms ranks 44th among the largest holders of the leading cryptocurrency among public companies.\u00a0<\/p>\n

\"image\"
Source: BitcoinTreasuries<\/a>.<\/figcaption><\/figure>\n

The miner’s shares fell nearly 18% in a day to $2.6, and over the past week, they have dropped more than 50%.\u00a0<\/p>\n

\"image\"
Source: Yahoo Finance<\/a>.\u00a0<\/figcaption><\/figure>\n

Back in November, the CEO of MARA predicted<\/a> tough times for miners due to increasing competition and declining profitability.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitfarms announced a gradual cessation of its cryptocurrency mining operations in favor of developing infrastructure for artificial intelligence.<\/p>\n","protected":false},"author":1,"featured_media":91031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Bitfarms shifts focus from mining to AI amid $46M loss.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,18,1184,1137],"class_list":["post-91030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-bitcoin","tag-bitfarms","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"166","promo_type":"1","layout_type":"1","short_excerpt":"Bitfarms shifts focus from mining to AI amid $46M loss.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=91030"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91030\/revisions"}],"predecessor-version":[{"id":91032,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/91030\/revisions\/91032"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/91031"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=91030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=91030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=91030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}