Bitfarms recorded a net loss of 36 million USD in the first quarter of 2025, compared to a loss of 6 million USD in the same period in 2024.
The company is moving from traditional Bitcoin mining to high-performance computing for AI applications, while sales increased by 33% to 67 million USD.
Profitability for miners diminished due to the volatility of Bitcoin, with gross profit margin falling from 63% to 43% after the recent halving.
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