Bitfarms (Bitfarms Stock Quote, Chart, News, Analysts, Financials TSX:BITF) reported second-quarter 2025 revenue of $77.8-million, up 87% year over year, but below the $84.3-million consensus, ATB Capital Markets analyst Martin Toner said August 12. He maintained an “Outperform” rating and $5.00 target.
Mining gross profit, excluding depreciation, was $32.4-million, short of ATB’s $46.2-million estimate, for a margin of 41.6% versus 45.9% in Q1 2025, with the decline driven by a higher network hash rate.
Adjusted EBITDA came in at $13.7-million, missing consensus at $29.2-million and ATB’s forecast of $31.2-million. The company maintained its H1 2025 efficiency goal of 19 watts per terahash and ended the quarter with a hash rate of 17.7 EH/s, down from 19.5 EH/s in the prior quarter.
Bitfarms…
