Mr. Geoffrey Morphy reports

BITFARMS APPOINTS TRACY KRUMME AS SENIOR VICE PRESIDENT, HEAD OF INVESTOR RELATIONS

Bitfarms Ltd. has appointed Tracy Krumme as senior vice-president, head of investor relations.

Ms. Krumme has more than 30 years of leadership experience in investor relations, financial communications, investment banking and equity research. She has led investor relations at several public companies, including PPD Inc. (now part of Thermo Fisher Scientific Inc.), Nuance Communications Inc. (now part of Microsoft Corp.), Luxoft (now part of DXC Technology Company) and NCR Corp., where she was instrumental in driving shareholder value, global visibility and prominence. She most recently led the pre-IPO (initial public offering) process at Galderma SA (Zug, Switzerland) and has held positions as an equity research analyst at Sandler O'Neill + Partners LP, an investment strategist at Prudential Securities and an investment banker at Kidder, Peabody International in London.

"We are excited to have Tracy join our team," said chief executive officer Geoffrey Morphy. "In addition to her extensive investor relations and capital markets experience, Tracy has an established reputation among the investment community. I am confident that her strategic acumen and proven track record will make her highly effective in this role. We look forward to her contributions as we continue to execute on our strategic initiatives and elevate our profile among the investment community."

Ms. Krumme stated: "I am impressed by the strength of Bitfarms' international management team and am thrilled to join the company at this important stage in its development. With a robust balance sheet and an ongoing transformative fleet upgrade, the company is poised to significantly enhance fleet energy efficiency ahead of the next bitcoin halving. I look forward to engaging with investors and analysts to foster relationships and effectively communicate Bitfarms' compelling growth story."

About Bitfarms Ltd.

Founded in 2017, Bitfarms is a global, publicly traded bitcoin mining company that contributes its computational power to one or more mining pools from which it receives payment in bitcoin. Bitfarms develops, owns and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service and multiple on-site technical repair centres. The company's proprietary data analytics system delivers best-in-class operational performance and uptime.

Bitfarms currently has 11 farms in production, one in expansion and two in development, in four countries: Canada, the United States, Paraguay and Argentina. Powered by predominantly environmentally friendly hydroelectric and long-term power contracts, Bitfarms is committed to using sustainable, locally based and often underutilized energy infrastructure.

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