Mr. Ben Gagnon reports

BITFARMS COMPLETES STRATEGIC SALE OF ITS YGUAZU, PARAGUAY DATA CENTER

Bitfarms Ltd. has successfully completed the sale of its 200-megawatt data centre in Yguazu, Paraguay, to Hive Digital Technologies Ltd.

Bitfarms chief executive officer Ben Gagnon stated: "We are pleased to have expeditiously completed the sale of our Yguazu site to Hive, allowing us to streamline our operations and further rebalance our portfolio towards North America. We now anticipate that our year-end 2025 pro forma energy portfolio will be approximately 80 per cent North American and approximately 20 per cent international, marking a significant milestone in our transition from an international bitcoin miner to a North American energy and compute infrastructure company."

Chief financial officer Jeff Lucas stated: "This accretive sale is expected to significantly reduce our 2025 capex [capital expenditure] requirements, while reducing our average power costs by 10 per cent. We plan to reinvest the savings and capital from this sale towards our 1.1-gigawatt U.S. [United States] growth pipeline for bitcoin mining and HPC/AI [high-performance computing/artificial intelligence] infrastructure, in line with our strategy to grow in the U.S. and diversify beyond bitcoin mining."

About Bitfarms Ltd.

Founded in 2017, Bitfarms is a global bitcoin and vertically integrated data centre company that sells its computational power to one or more mining pools from which it receives payment in bitcoin. Bitfarms develops, owns and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple on-site technical repair centres.

Bitfarms currently has 15 operating bitcoin data centres in four countries: the United States, Canada, Paraguay and Argentina. Powered predominantly by environmentally friendly hydroelectric and long-term power contracts, Bitfarms is committed to using sustainable and often-underutilized energy infrastructure.

We seek Safe Harbor.