Bitfarms
BITF
Bitfarms trades at 10.2x EV/NTM revenue on a $1.28B enterprise value. Revenue grew -10.6% year over year to $50.2M in the quarter ending December 2025, an annual run rate of $200.0M. Bitfarms reports a -32.4% gross margin.
ARR ($M)
Net Dollar Retention
--
ARR Growth
--
EV / NTM Revenue
10.2x
Payback Period
EV / Run Rate
6.4x
Price & Key Metrics
Price Performance
Company Details
Share Price: 1.98
Last Filing Date: 2025-12-31
Last Filing: Form
Founding Year: --
IPO Year: 2019
% of 52 wk High: 31%
Description
As of April 1, 2026, Bitfarms Ltd. was acquired by Keel Infrastructure Corp., in a reverse merger transaction. Bitfarms Ltd. operates digital and energy infrastructure, with a primary focus on high-performance computing (HPC) and artificial intelligence (AI) workloads in North America, Canada, and the United States.
Categories
Capital Markets
Valuation
Market Cap: 1,193.645
Enterprise Value: 1,283.335
EV / Revenue Run Rate: 6.4x
EV / NTM Revenue: 10.2x
EV / 2026 Revenue Estimates: 8.9x
EV / 2027 Revenue Estimates: 6.1x
EV / 2028 Revenue Estimates: 2.3x
Key Business Metrics
Net Dollar Retention: --
Customers: --
ARR: --
ARR Growth %: --
ARR/Customer ($K): --
ARR/Employee ($K): --
Revenue
Revenue Run Rate: 200
ARR: --
2026 Revenue Estimates: 145
2027 Revenue Estimates: 210
2028 Revenue Estimates: 567
LTM Revenue: 264
Last Year Run Rate: 224
Growth
Revenue Growth: -11%
ARR Growth: --
Growth Persistence: --
2026 Revenue Growth Estimates: --
2027 Revenue Growth Estimates: 45%
2028 Revenue Growth Estimates: 170%
Financials
Quarterly
Calendar Year
Frequently Asked Questions
How fast is Bitfarms growing?
Bitfarms grew revenue -10.6% year over year, reaching $50.2M in the quarter ending December 2025.
What multiple does Bitfarms trade at?
Bitfarms trades at 10.2x EV/NTM revenue and 6.4x EV/run-rate, on an enterprise value of $1.28B.
Is Bitfarms profitable?
For Bitfarms, LTM free cash flow margin is -123.9%.
What sector is Bitfarms in?
Public Comps classifies Bitfarms under Capital Markets.
Where does Public Comps get Bitfarms's data?
Figures come from Bitfarms's own SEC filings, normalised into a consistent quarterly format and refreshed after each earnings release.