Mr. Ben Gagnon reports

BITFARMS PROVIDES APRIL 2025 PRODUCTION AND OPERATIONS UPDATE

Bitfarms Ltd. has issued its latest monthly production report. All financial references are in U.S. dollars.

Ben Gagnon, chief executive officer, stated: "In April, we secured an attractive financing facility for up to $300-million with a division of Macquarie Group, one of the world's largest and most reputable infrastructure investors. These funds will be used solely to fund HPC [high-performance computing] data centre development at our Panther Creek location. Panther Creek has the scale, location, power availability and fibre connectivity that we expect will attract notable HPC counterparties. This site also has the quickest energization timeline of our three PA sites, and we are already working on the site map plans, development timelines and renderings needed in order to begin to build out the powered land.

"We are confident this partnership will not only accelerate our buildout at Panther Creek but also open doors to future opportunities with Macquarie as we look to scale our project and potentially expand to other sites within our portfolio. Amidst the surging AI revolution and the growing demand for power and infrastructure, this financing arrives at a pivotal time. We believe the analyses provided by our strategic partners, ASG and WWT, along with Macquarie's due diligence and industry expertise, validate our HPC opportunity thesis at Panther Creek, strengthen our HPC pipeline and strategy, and position Bitfarms as a market leader in sourcing and developing large-scale, high-quality HPC data centre projects.

"Our bitcoin business is strong, and we remain bullish on mining economics with our newly upgraded mining fleet. We have no need nor plans for a large miner purchase in 2025 or 2026, enabling us to focus our efforts on developing U.S. energy and HPC infrastructure, which we believe will create lasting shareholder value."

April, 2025, financial update:

• Treasury of 1,005 bitcoin, down from 1,140 bitcoin last month and representing $94-million based on the bitcoin price of $94,000 at April 30, 2025.

About Bitfarms Ltd.

Founded in 2017, Bitfarms is a global energy and compute infrastructure company that develops, owns and operates vertically integrated HPC and bitcoin mining data centres. Bitfarms currently has 15 operating bitcoin data centres situated in four countries: the United States, Canada, Argentina and Paraguay. Powered primarily by environmentally friendly hydroelectric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

We seek Safe Harbor.