0001213900-25-026575 | 40-F | XBRL Viewer

Print Document

Cover	12 Months Ended
Cover	Dec. 31, 2024 shares
Document Information [Line Items]
Document Type	40-F
Document Registration Statement	false
Document Annual Report	true
Document Financial Statement Error Correction [Flag]	false
Entity Interactive Data Current	Yes
Annual Information Form	true
Audited Annual Financial Statements	true
ICFR Auditor Attestation Flag	true
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Information [Line Items]
Entity Registrant Name	Bitfarms Ltd.
Entity Central Index Key	0001812477
Entity File Number	001-40370
Entity Primary SIC Number	6199
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	Z4
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	110 Yonge Street
Entity Address, Address Line Two	Suite 1601
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	M5C 1T4
Entity Phone Fax Numbers [Line Items]
City Area Code	(647)
Local Phone Number	259-1790
Entity Listings [Line Items]
Title of 12(b) Security	Common Shares
Trading Symbol	BITF
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	479,332,885
Business Contact [Member]
Entity Contact Personnel [Line Items]
Contact Personnel Name	Cogency Global Inc.
Entity Address, Address Line One	122 E. 42nd Street
Entity Address, Address Line Two	18th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10168
Entity Phone Fax Numbers [Line Items]
City Area Code	(800)
Local Phone Number	221-0102

Nature of Operations (Tables)

12 Months Ended

Dec. 31, 2024

Nature of Operations [Abstract]

Schedule of Financial Statements

In these financial statements, the terms below have the following definitions:

	Term	Definition
1	Backbone	Backbone Hosting Solutions Inc.
2	Volta	9159-9290 Quebec Inc.
3	Backbone Argentina	Backbone Hosting Solutions SAU
4	Backbone Paraguay	Backbone Hosting Solutions Paraguay SA
5	Backbone Mining	Backbone Mining Solutions LLC
6	Orion	Orion Constellation Technologies Inc.
7	Backbone Sharon	Backbone Sharon LLC
8	Backbone Paso Pe	D&N Ingenieria SA
9	Backbone Yguazu	Zunz SA
10	Backbone Paraguay LP	Bitfarms Paraguay LP
11	BTC	Bitcoin
12	BVVE	Blockchain Verification and Validation Equipment (primarily Miners and mining-related equipment)
13	MW	Megawatt
14	CAD	Canadian dollars
15	USD	U.S. dollars
16	ARS	Argentine Pesos

Additional Details to the Statements of Cash Flows (Tables)

12 Months Ended

Dec. 31, 2024

Additional Details to the Statements of Cash Flows [Abstract]

Schedule of Additional Details to the Statements of Cash Flows

	Year ended December 31,
	2024			2023
Changes in working capital components:
Increase in trade receivables, net		(545	)		(13	)
Decrease in other current assets		2,342			1,104
Increase in electrical component inventory		(475	)		(117	)
Decrease in deposits		5,467			420
Decrease in trade payables and accrued liabilities		(15,827	)		(315	)
Increase (decrease) in taxes payable		(178	)		156
		(9,216	)		1,235

Significant non-cash transactions:
Issuance of common shares in connection with acquisitions of assets and ROU assets		3,000			1,354
Addition of ROU assets and related lease liabilities		9,928			1,553
Purchase of PPE financed by short-term credit		8,113			1,365
Equipment prepayments realized as additions to PPE		32,433			7,372
Computational power revenue and its related service expense		1,023			—

Depreciation and Amortization
Property, plant and equipment		137,270			81,455
ROU assets		3,124			3,197
Intangible assets		573			133
		140,967			84,785

Long-Term Debt - Schedule of Movement in Long-Term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Long-Term Debt - Schedule of Movement in Long-Term Debt (Details) [Line Items]
Issuance of long-term debt	$ 1,695
Payments	(4,435)	(33,233)
Gain on extinguishment of long-term debt		$ (12,580)

Long-Term Deposits, Equipment Prepayments and Other (Tables)

12 Months Ended

Dec. 31, 2024

Long-Term Deposits, Equipment Prepayments, Commitments and Other [Abstract]

Schedule of Long-Term Deposits, Equipment Prepayments and Other

	As of December 31,		As of December 31,
	2024		2023
Security deposits for insurance and rent		4,513		4,624
Equipment and construction prepayments		51,854		39,813
		56,367		44,437

Schedule of Equipment Prepayments

The following table details the equipment and construction prepayments:

		As of December 31,		As of December 31,
		2024		2023
Miner credits	i.		—		11,330
Bitmain T21 & S21 Pro Miners Purchase Order and Purchase Option	ii.		—		16,912
March 2024 Purchase Order	iii.		34,791		—
Other BVVE and electrical components	iv.		3,499		4,400
Construction work and materials	v.		13,564		7,171
			51,854		39,813

Schedule of Deposit Balance

As of December 31, 2024, the deposit balance for the Purchase Order and the Purchase Option is detailed as follows:

	As of December 31,
	2024
Non-refundable deposit on the Purchase Order made in 2023		9,464
Non-refundable deposit on the Purchase Option made in 2023		7,448
Non-refundable deposit on the Purchase Order and the Purchase Option made in 2024		153,030
Bitmain T21 Miners received		(153,987	)
Bitmain S21 Pro Miners received or in transit		(15,955	)
		—

	As of December 31,
	2024
Non-refundable deposit on the March 2024 Purchase Order		69,231
Bitmain T21 Miners received or in transit		(11,077	)
Bitmain S21 Miners received		(13,608	)
Bitmain S21 Pro Miners received or in transit		(4,068	)
Bitmain S21 Hydro Miners received		(4,338	)
Initial fair value of BTC Redemption Option		(1,349	)
		34,791

Warrant Liabilities - Schedule of the Outstanding Warrants (Details) - shares	1 Months Ended	12 Months Ended
	Feb. 28, 2024	Dec. 31, 2024	Dec. 31, 2023
Schedule of the Outstanding Warrants [Line Items]
Number of warrants,Outstanding Beginning		35,105,390	19,152,797
Number of warrants, Granted			25,222,223
Number of warrants, Exercised	(5,111,111)	10,841,482	19,127,797
Number of warrants, Expired		(19,152,797)
Number of warrants, Outstanding Ending		10,841,482	35,105,390

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cost
Sales tax recovery - depreciation
Additions
Dispositions
Impairment on deposits transferred to PPE
Effect of change in discount rate in asset retirement obligations
Sales tax recovery

Long-Term Deposits, Equipment Prepayments and Other (Details) $ in Thousands			1 Months Ended	3 Months Ended		12 Months Ended
	Nov. 12, 2024 USD ($) shares	Aug. 27, 2024 USD ($)	Dec. 31, 2022 USD ($) Miners	Mar. 31, 2024 USD ($) Miners	Sep. 30, 2023 USD ($)	Dec. 31, 2024 USD ($) Miners	Dec. 31, 2023 USD ($)	Dec. 31, 2024	Dec. 31, 2024 Miners	Dec. 31, 2023 Miners	Feb. 28, 2023 Miners	Jun. 30, 2022 Miners
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Purchase agreements for number of miners (in Miners) \| Miners			48,000
Outstanding commitments without penalty			$ 45,350
Credit for deposits			22,376
Outstanding credit balance			$ 19,097
Number of miners (in Miners)				28,000					865	2,473	6,100	10,395
Non refundable deposit		$ 3,000				$ 3,000
Additional bitmain T21 miners						28,000
Recognized at a fair value						$ 1,349
Purchase deposit						34,791
Deposits for BVVE and electrical amount						$ 3,499
Deposits construction amount							$ 13,564
Importation duty						25.00%
Custom duties					$ 9,424
Miner Credits [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Remaining payment obligation						$ 33,200
Bitmain T21 Miners [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Number of miners (in Miners) \| Miners									58,123
Miners total cost						153,987
Bitmain S21 Pro Miners [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Number of miners (in Miners) \| Miners									3,604
Miners total cost						15,955
Bitmain T21 and S21 Pro Miners Purchase Order and Purchase Option [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Number of miners (in Miners) \| Miners										35,888
Miners total cost	$ 10,576						$ 95,462
Non refundable deposit						$ 9,464
Additional bitmain T21 miners \| Miners						28,000
Bitmain T21 miners totaling						$ 74,480
Non refundable deposit						7,448
Additional deposits						153,030
Bitmain T21 and S21 Pro Miners Purchase Order and Purchase Option [Member] \| Bitmain T21 Miners [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Purchase option and upgraded (in Shares) \| shares	6,000
Bitmain T21 and S21 Pro Miners Purchase Order and Purchase Option [Member] \| Bitmain S21 Pro Miners [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Purchase option and upgraded (in Shares) \| shares	6,000
March 2024 Purchase Order [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Number of miners (in Miners) \| Miners									762
Miners total cost	$ 22,654
Additional deposits						91,886
Purchase cost						4,338
March 2024 Purchase Order [Member] \| Bitmain T21 Miners [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Number of miners (in Miners) \| Miners				19,280
Miners total cost				$ 51,285
Purchase option and upgraded (in Shares) \| shares	12,853
March 2024 Purchase Order [Member] \| Bitmain S21 Miners [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Number of miners (in Miners) \| Miners				3,888
Miners total cost				$ 13,608
Purchase option and upgraded (in Shares) \| shares	12,853
March 2024 Purchase Order [Member] \| Bitmain S21 Hydro Miners [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Number of miners (in Miners) \| Miners				740
Miners total cost				$ 4,338
March 2024 Purchase Order [Member] \| Bitmain T21 Miners One [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Number of miners (in Miners) \| Miners									4,317
Purchase cost						11,072
March 2024 Purchase Order [Member] \| Bitmain S21 Miners One [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Number of miners (in Miners) \| Miners									3,975
Purchase cost						13,608
March 2024 Purchase Order [Member] \| Bitmain S21 Pro Miners One [Member]
Long-Term Deposits, Equipment Prepayments, Commitments and Other [Line Items]
Number of miners (in Miners) \| Miners									919
Purchase cost						$ 4,068

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other Assets - Schedule of Other Assets (Details) [Line Items]
Sales taxes receivable	$ 5,898	$ 805

Intangible Assets - Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions (Details)		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2024
Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions [Line Items]
Original capacity		178 MW
Washington State, United States [member]
Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions [Line Items]
Original capacity		6 MW
Term of contractual access rights		No termination date
Amortization method and period		Declining balance 4%
Washington State, USA [member]
Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions [Line Items]
Original capacity		6 MW
Baie-Comeau, Quebec [member]
Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions [Line Items]
Original capacity	22 MW
Term of contractual access rights	No termination date
Amortization method and period	Straight-line over the lease term of the data center
Paso Pe, Paraguay [member]
Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions [Line Items]
Original capacity	50 MW
Term of contractual access rights	Ending in December 31, 2027
Amortization method and period	Straight-line over the access rights period
Yguazu, Paraguay [member]
Schedule of Fair Value of the Consideration Paid to their Relative Fair Values at the Closing Date of the Transactions [Line Items]
Original capacity	100 MW
Term of contractual access rights	Ending in December 31, 2027
Amortization method and period	Straight-line over the access rights period

Financial Instruments - Schedule of Carrying Values and the Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Financial assets at amortized cost
Security deposits for energy	$ 7,740	$ 277
Refundable Hosting Deposits	14,216
Financial liabilities at amortized cost
Long-term debt	1,576	4,022
Financial liabilities at fair value through profit and loss
Net carrying amount and fair value	$ 55,687	$ 33,474

Subsidiaries - Schedule of Significant Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2024
Backbone [Member]
Subsidiaries - Schedule of Significant Subsidiaries [Line Items]
Security type	Common shares
Securities	100.00%
Equity	100.00%
Backbone Argentina [Member]
Subsidiaries - Schedule of Significant Subsidiaries [Line Items]
Security type	Ordinary shares
Securities	100.00%
Equity	100.00%
Backbone Paraguay [Member]
Subsidiaries - Schedule of Significant Subsidiaries [Line Items]
Security type	Ordinary shares
Securities	100.00%
Equity	100.00%
Backbone Mining [Member]
Subsidiaries - Schedule of Significant Subsidiaries [Line Items]
Security type	Common shares
Securities	100.00%
Equity	100.00%
Backbone Sharon [Member]
Subsidiaries - Schedule of Significant Subsidiaries [Line Items]
Security type	Common shares
Securities	100.00%
Equity	100.00%
Backbone Paso Pe [Member]
Subsidiaries - Schedule of Significant Subsidiaries [Line Items]
Security type	Ordinary shares
Securities	100.00%
Equity	100.00%
Backbone Yguazu [Member]
Subsidiaries - Schedule of Significant Subsidiaries [Line Items]
Security type	Ordinary shares
Securities	100.00%
Equity	100.00%
Backbone Paraguay LP [Member]
Subsidiaries - Schedule of Significant Subsidiaries [Line Items]
Security type	Common shares
Securities	100.00%
Equity	100.00%
Orion [Member]
Subsidiaries - Schedule of Significant Subsidiaries [Line Items]
Security type	Common shares
Securities	100.00%
Equity	100.00%
Volta [Member]
Subsidiaries - Schedule of Significant Subsidiaries [Line Items]
Security type	Common shares
Securities	100.00%
Equity	100.00%

Derivative Assets and Liabilities (Details) $ in Thousands	12 Months Ended
Derivative Assets and Liabilities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Derivative Assets and Liabilities [Line Items]
Miner amount paid
Recognized fair value	$ 1,349

Acquisitions of Assets - Schedule of Purchase Price and the Net Assets Acquired (Details) - USD ($) $ in Thousands		6 Months Ended
	Jul. 14, 2023	Jul. 05, 2023
Purchase price
Cash consideration payable	$ 200
Transaction costs	4	$ 218
Total purchase price	454	2,182
Net assets acquired
Leasehold improvements		7
Intangible - access rights to electricity	421	2,315
Total net assets acquired	$ 454	$ 2,182

Nature of Operations

12 Months Ended

Dec. 31, 2024

Nature of Operations [Abstract]

NATURE OF OPERATIONS

NOTE 1:

NATURE OF OPERATIONS

Bitfarms Ltd. was incorporated under the Canada Business Corporations Act on October 11, 2018 and continued under the Business Corporations Act (Ontario) on August 27, 2021. The consolidated financial statements of the corporation comprise the accounts of Bitfarms Ltd. and its wholly-owned subsidiaries (together referred to as the “Company” or “Bitfarms”). The common shares of the Company are listed on the Nasdaq Stock Market and the Toronto Stock Exchange (Nasdaq/TSX: BITF). Its registered office is located at 110 Yonge Street, Suite 1601, Toronto, Ontario, Canada, M5C 1T4.

The activities of the Company are mainly comprised of selling its computational power used for hashing calculations for the purpose of cryptocurrency mining in multiple jurisdictions as described in Note 30 “Geographical Information”. The Company’s operations are currently located in Canada, Paraguay, the United States and Argentina. Volta, a wholly-owned subsidiary of the Company, assists the Company in building and maintaining its data centers and provides electrician services to both commercial and residential customers in Quebec, Canada.

Bitfarms primarily owns and operates data centers housing computers (referred to as “Miners”) designed for the purpose of validating transactions on the Bitcoin Blockchain (referred to as “Mining”). Bitfarms generally operates its Miners 24 hours per day to produce computational power used for hashing calculations (measured by hashrate) that Bitfarms sells to Mining pool operators under a formula-driven rate commonly known in the industry as Full Pay Per Share (“FPPS”). Under FPPS, Mining pool operators compensate Mining companies for their computational power used for hashing calculations, measured by hashrate, based on what the Mining pool operator would expect to generate in revenue for a given time period if there was no randomness involved. The fee paid by a Mining pool operator to Bitfarms for its computational power used for hashing calculations may be in cryptocurrency, U.S. dollars, or another currency. However, the fees are paid to the Company on a daily basis in BTC (as defined below). Bitfarms accumulates the cryptocurrency fees it receives or exchanges them for U.S. dollars through reputable and established cryptocurrency trading platforms.

Terms and definitions

In these financial statements, the terms below have the following definitions:

	Term	Definition
1	Backbone	Backbone Hosting Solutions Inc.
2	Volta	9159-9290 Quebec Inc.
3	Backbone Argentina	Backbone Hosting Solutions SAU
4	Backbone Paraguay	Backbone Hosting Solutions Paraguay SA
5	Backbone Mining	Backbone Mining Solutions LLC
6	Orion	Orion Constellation Technologies Inc.
7	Backbone Sharon	Backbone Sharon LLC
8	Backbone Paso Pe	D&N Ingenieria SA
9	Backbone Yguazu	Zunz SA
10	Backbone Paraguay LP	Bitfarms Paraguay LP
11	BTC	Bitcoin
12	BVVE	Blockchain Verification and Validation Equipment (primarily Miners and mining-related equipment)
13	MW	Megawatt
14	CAD	Canadian dollars
15	USD	U.S. dollars
16	ARS	Argentine Pesos

Acquisitions of Assets (Tables)

12 Months Ended

Dec. 31, 2024

Acquisitions of Assets [Abstract]

Schedule of Purchase Price and the Net Assets Acquired

The purchase price and the net assets acquired are as follows:

			As of July 5,
	Note		2023

Purchase price
Cash consideration				610
Value of 820,837 common shares transferred at closing				1,354
Transaction costs				218
				2,182

Net assets acquired
Security deposits				241
Leasehold improvements				7
Trade payables and accrued liabilities				(174	)
Customer deposit				(207	)
Intangible - access rights to electricity		13		2,315
				2,182

	Notes		Villarrica (Paso Pe)		Yguazu

Purchase price
Cash consideration paid at closing				95		250
Cash consideration payable				1,000		200
Transaction costs				17		4
				1,112		454

Net assets acquired
Cash, cash equivalent and other current assets				17		27
Property, plant and equipment				30		6
Intangible - access rights to electricity		13		1,065		421
				1,112		454

Trade Receivables (Details)	12 Months Ended
Trade Receivables (Details)	Dec. 31, 2024
Trade Receivables [Line Items]
Trade receivables terms	90 days

Income Taxes - Schedule of Deferred Tax Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule of Deferred Tax Liability [Line Items]
Beginning Balance	$ 22,239
Credited to statements of profit or loss	(13,461)	(5,209)
Ending Balance	22,882	$ 22,239
Offsetting deferred tax assets	$ (22,817)

Derivative Assets and Liabilities

12 Months Ended

Dec. 31, 2024

Derivative Assets and Liabilities [Abstract]

DERIVATIVE ASSETS AND LIABILITIES

NOTE 9:

DERIVATIVE ASSETS AND LIABILITIES

BTC option and selling contracts

Starting in the first quarter of 2023, the Company purchased BTC option contracts that gave it the right, but not the obligation, to sell digital assets at a fixed price. Option contracts are used to reduce the risk of BTC price volatility and reduce the variability of cash flows resulting from future sales of digital assets. The Company also entered into contracts and earned premiums by agreeing to sell BTC if the price reached specific targets. The Company did not apply hedge accounting to these contracts. Refer to Note 3b (Financial Instruments) for more details.

BTC Redemption Option

In November 2024, the Company entered into two supplemental agreements (“Supplementary Agreements”) in relation to the Purchase Option and the March Purchase Option as explained in Note 14. The Supplementary Agreements allow the Company to pay for the Miners in cash, BTC or a combination of both.

In the event that the Company elects for BTC Pledged either full or partial, the Company has the option to redeem back the BTC Pledged at the price originally pledged in four quarterly installments (“BTC Installments”) within 12 months after the redemption period starts. The redemption period starts when the Miners are shipped. See Note 23 for more details. If the Company elects not to redeem one of the BTC Installments, the Company forfeits the right to redeem the remaining BTC Installments. The right to redeem the BTC (“BTC Redemption Option”) meets the definition of an embedded derivative. In November 2024, the Company paid for the Miners in the Supplementary Agreements using 351 BTC valued at $33,200. The BTC Redemption Option was initially recognized at a fair value of $1,349 which was allocated to the option from the initial equipment deposit. As of December 31, 2024, the BTC Redemption Option fair value increased to $3,418 resulting in an unrealized gain of $2,069 in Net financial income (expenses).

Subsequently, the Company exercised the first BTC Installment. Refer to Note 32 for more details.

The following table summarizes the derivatives:

	As of December 31,
	2024			2023
Derivative assets
BTC option contracts		—			1,281
BTC redemption option		3,418			—
		3,418			1,281
Derivative liabilities
BTC selling contracts		(128	)		—

Reconciliation of the fair value measurement of BTC option and selling contracts derivatives (Level 2):

	As of December 31,
	2024						2023
	Derivative Assets			Derivative Liabilities			Derivative Assets		Derivative Liabilities
Balance as of January 1,		1,281			—			—		—
Remeasurement recognized in statement of profit or loss during the period		15,871			(121	)		28		20
Purchases		13,610			351			1,253		366
Sales		(30,762	)		(358	)		—		(386	)
Balance as of period end		—			(128	)		1,281		—

The following gain or loss on BTC option and selling contracts derivatives are recognized in Net financial income (expenses) in the consolidated statements of profit or loss and comprehensive profit or loss:

	Year ended December 31,
	2024			2023
Unrealized change in fair value of outstanding contracts		(179	)		409
Realized gain (loss) on settled contracts		15,929			(361	)
		15,750			48

Other Assets (Tables)

12 Months Ended

Dec. 31, 2024

Other Assets [Abstract]

Schedule of Other Assets

	As of December 31,		As of December 31,
		2024		2023
Sales taxes receivable		5,898		805
Other receivables		1,387		689
		7,285		1,494

Long-Term Deposits, Equipment Prepayments and Other - Schedule of Long-Term Deposits, Equipment Prepayments and Other (Details) - Long Term Deposit [Member] - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Schedule of Long-Term Deposits, Equipment Prepayments and Other [Line Items]
Security deposits for insurance and rent	$ 4,513	$ 4,624
Equipment and construction prepayments	$ 51,854	$ 39,813

Digital Assets - Schedule of Bitcoin Transactions and the Corresponding Values (Details) $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Digital Assets - Schedule of Bitcoin Transactions and the Corresponding Values (Details) [Line Items]
Balance of digital assets including digital assets collateralized beginning balance, Quantity	804	405
Balance of digital assets including digital assets collateralized beginning balance, Value	$ 33,971	$ 6,705
BTC earned, Quantity	2,914	4,928
BTC earned, Value	$ 186,527	$ 141,306
BTC exchanged for cash, Quantity	(2,419)	(4,529)
BTC exchanged for cash, Value	$ (152,135)	$ (129,309)
BTC exchanged for services, Quantity	(14)
BTC exchanged for services, Value	$ (1,463)
Realized gain on disposition of digital assets, Quantity
Realized gain on disposition of digital assets, Value	$ 27,209	$ 7,713
Change in unrealized gain on revaluation of digital assets, Quantity
Change in unrealized gain on revaluation of digital assets, Value	$ 26,015	$ 7,556
Balance of digital assets including restricted digital assets and digital assets collateralized ending balance, Quantity	1,285	804
Balance of digital assets including restricted digital assets and digital assets collateralized ending balance, Value	$ 120,124	$ 33,971
Less restricted digital assets, Quantity	(351)
Less restricted digital assets, Value	$ (32,826)
Less digital assets collateralized, Quantity		(50)
Less digital assets collateralized, Value		$ (2,101)
Balance of digital assets excluding restricted digital assets and digital assets collateralized, Quantity	934	754
Balance of digital assets excluding restricted digital assets and digital assets collateralized, Value	$ 87,298	$ 31,870

Share-Based Payments - Schedule of RSUs (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule of RSUs [Line Items]
Outstanding Beginning, Number of RSUs	624,998	400,000
Outstanding Beginning, Weighted Average Grant Price	$ 4.05	$ 3.73
Granted, Number of RSUs	706,000	475,000
Granted, Weighted Average Grant Price	$ 3.27	$ 3.83
Settled, Number of RSUs	(416,666)	(250,002)
Settled, Weighted Average Grant Price	$ 3.64	$ 3.13
Forfeited, Number of RSUs	(16,666)
Forfeited, Weighted Average Grant Price	$ 5.01
Outstanding ending, Number of RSUs	897,666	624,998
Outstanding ending, Weighted Average Grant Price	$ 3.61	$ 4.05

Asset Retirement Provision - Schedule of Asset Retirement Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule of Asset Retirement Provision [Line Items]
Effect of change in discount rate	$ 88	$ (598)

Income Taxes - Schedule of Effective Tax Rate (Details)	12 Months Ended
Income Taxes - Schedule of Effective Tax Rate (Details)	Dec. 31, 2024	Dec. 31, 2023
Schedule of Effective Tax Rate [Line Items]
Income tax recovery at statutory rate, percentage	26.50%	26.50%

Income Taxes - Schedule of Deferred Tax Asset (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule of Deferred Tax Asset [Line Items]
Credited to statements of equity
Deferred tax asset derecognized in the statements of equity

Acquisitions of Assets (Details)	Jul. 05, 2023 shares
Acquisitions of Assets [Line Items]
Common shares (in Shares)	820,837

Trade Receivables - Schedule of Credit Risk Exposure of the Company’s Trade Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Schedule of Credit Risk Exposure of the Company’s Trade Receivables [Line Items]
Trade receivables	$ 1,259	$ 714

Financial Instruments - Schedule of Contractual Maturities of Financial Liabilities and Lease Liabilities (Non-Financial Liabilities) (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Schedule of Contractual Maturities of Financial Liabilities and Lease Liabilities (Non-Financial Liabilities) [Line Items]
Long-term debt	$ 3,634

Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss - Schedule of Cost of Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Schedule of Cost of Revenues [Abstract]
Sales tax recovery - energy and infrastructure	$ 17,017
Sales tax recovery - depreciation and amortization	8,760
Electrical components and salaries	$ (4,081)	$ (4,141)

Label

Element

Value

Equity Value Of Transaction

bitf_EquityValueOfTransaction

$ 125,000

Increase Decrease Through Settlement Of Restricted Share Units

bitf_IncreaseDecreaseThroughSettlementOfRestrictedShareUnits

1,116,000

Increase Decrease Through Settlement Of Restricted Share Units

bitf_IncreaseDecreaseThroughSettlementOfRestrictedShareUnits

(1,116,000)

Increase Decrease Through Settlement Of Restricted Share Units

bitf_IncreaseDecreaseThroughSettlementOfRestrictedShareUnits

692,000

Increase Decrease Through Settlement Of Restricted Share Units

bitf_IncreaseDecreaseThroughSettlementOfRestrictedShareUnits

(692,000)

Increase Decrease Through Settlement Of Restricted Share Units

bitf_IncreaseDecreaseThroughSettlementOfRestrictedShareUnits

Increase Decrease Through Settlement Of Restricted Share Units

bitf_IncreaseDecreaseThroughSettlementOfRestrictedShareUnits

Increase Decrease Through Settlement Of Restricted Share Units

bitf_IncreaseDecreaseThroughSettlementOfRestrictedShareUnits

Increase Decrease Through Settlement Of Restricted Share Units

bitf_IncreaseDecreaseThroughSettlementOfRestrictedShareUnits

Increase Decrease Through Settlement Of Restricted Share Units

bitf_IncreaseDecreaseThroughSettlementOfRestrictedShareUnits

Increase Decrease Through Settlement Of Restricted Share Units

bitf_IncreaseDecreaseThroughSettlementOfRestrictedShareUnits

Non Cash Gain On Revaluation Of Warrants

bitf_NonCashGainOnRevaluationOfWarrants

61,000

Non Cash Gain On Revaluation Of Warrants

bitf_NonCashGainOnRevaluationOfWarrants

1,739,000

Non Cash Gain On Revaluation Of Warrants

bitf_NonCashGainOnRevaluationOfWarrants

505,000

Non Cash Gain On Revaluation Of Warrants

bitf_NonCashGainOnRevaluationOfWarrants

3,412,000

Non Cash Gain On Revaluation Of Warrants

bitf_NonCashGainOnRevaluationOfWarrants

1,836,000

Non Cash Gain On Revaluation Of Warrants

bitf_NonCashGainOnRevaluationOfWarrants

$ 19,359,000

Disclosure Of Refundable Deposits Table Text Block

bitf_DisclosureOfRefundableDepositsTableTextBlock

	As of December 31,		As of December 31,
	2024		2023
Security deposits for energy		7,740		277
Refundable Hosting Deposits		14,216		—
		21,956		277

Accumulated Amortization

bitf_AccumulatedAmortization

$ 5,138,000

Accumulated Amortization

bitf_AccumulatedAmortization

113,000

Accumulated Amortization

bitf_AccumulatedAmortization

5,251,000

Accumulated Amortization

bitf_AccumulatedAmortization

5,150,000

Accumulated Amortization

bitf_AccumulatedAmortization

674,000

Accumulated Amortization

bitf_AccumulatedAmortization

5,824,000

Accumulated Amortization

bitf_AccumulatedAmortization

5,117,000

Accumulated Amortization

bitf_AccumulatedAmortization

5,117,000

Accumulated Amortization

bitf_AccumulatedAmortization

Options Issued To Exercisable Exercised Period

bitf_OptionsIssuedToExercisableExercisedPeriod

5 years

Increase Decrease Through Exercise Of Stock Options And Warrants

bitf_IncreaseDecreaseThroughExerciseOfStockOptionsAndWarrants

$ 23,627,000

Increase Decrease Through Exercise Of Stock Options And Warrants

bitf_IncreaseDecreaseThroughExerciseOfStockOptionsAndWarrants

(1,934,000)

Increase Decrease Through Exercise Of Stock Options And Warrants

bitf_IncreaseDecreaseThroughExerciseOfStockOptionsAndWarrants

21,693,000

Increase Decrease Through Exercise Of Stock Options And Warrants

bitf_IncreaseDecreaseThroughExerciseOfStockOptionsAndWarrants

35,482,000

Increase Decrease Through Exercise Of Stock Options And Warrants

bitf_IncreaseDecreaseThroughExerciseOfStockOptionsAndWarrants

(1,254,000)

Increase Decrease Through Exercise Of Stock Options And Warrants

bitf_IncreaseDecreaseThroughExerciseOfStockOptionsAndWarrants

34,228,000

Increase Decrease Through Exercise Of Stock Options And Warrants

bitf_IncreaseDecreaseThroughExerciseOfStockOptionsAndWarrants

Increase Decrease Through Exercise Of Stock Options And Warrants

bitf_IncreaseDecreaseThroughExerciseOfStockOptionsAndWarrants

Increase Decrease Through Exercise Of Stock Options And Warrants

bitf_IncreaseDecreaseThroughExerciseOfStockOptionsAndWarrants

Increase Decrease Through Exercise Of Stock Options And Warrants

bitf_IncreaseDecreaseThroughExerciseOfStockOptionsAndWarrants

Increase Decrease In Number Of Shares Settlement Of Restricted Share Units

bitf_IncreaseDecreaseInNumberOfSharesSettlementOfRestrictedShareUnits

416,666

Increase Decrease In Number Of Shares Settlement Of Restricted Share Units

bitf_IncreaseDecreaseInNumberOfSharesSettlementOfRestrictedShareUnits

250,002

Reclassified From Longterm Deposits And Other

bitf_ReclassifiedFromLongtermDepositsAndOther

$ 912,000

Initial Term Of Lease

bitf_InitialTermOfLease

5 years

Initial Term Of Lease

bitf_InitialTermOfLease

10 years

Sharebased Compensation Arrangement By Sharebased Payment Award Options Grants In Period Net Of Forfeitures

bitf_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsInPeriodNetOfForfeitures

9,010,000

Sharebased Compensation Arrangement By Sharebased Payment Award Options Grants In Period Net Of Forfeitures

bitf_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsInPeriodNetOfForfeitures

13,156,250

Adjustments For Proceeds From Digital Assets Exchanged For Services

bitf_AdjustmentsForProceedsFromDigitalAssetsExchangedForServices

$ 1,463,000

Adjustments For Proceeds From Digital Assets Exchanged For Services

bitf_AdjustmentsForProceedsFromDigitalAssetsExchangedForServices

Schedule Of Warrants And Broker Warrants Table Text Block

bitf_ScheduleOfWarrantsAndBrokerWarrantsTableTextBlock

2023 warrants and broker warrants

	Remeasurement on settlement of warrants			Remeasurement at period end
Measurement date	February 12 to 28, 2024			December 31, 2024			December 31, 2023
Dividend yield (%)		—			—			—
Expected share price volatility (%)		87	%		77	%		91	%
Risk-free interest rate (%)		4.67	%		4.27	%		4.23	%
Expected life of warrants (years)		2.74			1.89			2.90
Share price (CAD)		4.42			2.13			3.85
Exercise price (USD)		1.17			1.17			1.17
Fair value of warrants (USD)		2.51			0.74			2.15
Number of warrants (exercised) outstanding		(5,111,111	)		10,841,482			15,952,593

2021 warrants and broker warrants

	Remeasurement at period end
Measurement date	December 31, 2023
Dividend yield (%)		—
Expected share price volatility (%)		82	%
Risk-free interest rate (%)		4.23	%
Expected life of warrants (years)		0.46
Share price (CAD)		3.85
Exercise price (USD)		4.20
Fair value of warrants (USD)		0.32
Number of warrants outstanding		19,127,797

Acquire Miners

bitf_AcquireMiners

19,280

Acquire Miners

bitf_AcquireMiners

3,888

Acquire Miners

bitf_AcquireMiners

740

Number Of Exercisable Share Options Exercisable

bitf_NumberOfExercisableShareOptionsExercisable

10,535,000

Disclosure Of Effective Tax Rate Table Text Block

bitf_DisclosureOfEffectiveTaxRateTableTextBlock

Effective tax rate

	Year ended December 31,
	2024					2023
Income tax recovery at statutory rate of 26.5%		18,114		26.5	%		28,971		26.5	%
Increase (decrease) in taxes resulting from:
Foreign tax rate differential		(2,900	)	(4.2	)%		103		0.1	%
Prior year		(57	)	(0.1	)%		(1,623	)	(1.5	)%
Non-taxable warrant loss (gain) and other permanent differences		13,207		19.3	%		(23,391	)	(21.4	)%
Deferred tax asset not recognized		(14,074	)	(20.6	)%		(3,659	)	(3.3	)%
		14,290		20.9	%		401		0.4	%

Stronghold Shareholders Received

bitf_StrongholdShareholdersReceived

2.52

Adjustments For Reversal Of Revaluation Loss On Digital Assets

bitf_AdjustmentsForReversalOfRevaluationLossOnDigitalAssets

$ (2,695,000)

Adjustments For Reversal Of Revaluation Loss On Digital Assets

bitf_AdjustmentsForReversalOfRevaluationLossOnDigitalAssets

Change In Revaluation Surplus Digital Assets Net Of Tax

bitf_ChangeInRevaluationSurplusDigitalAssetsNetOfTax

39,120,000

Change In Revaluation Surplus Digital Assets Net Of Tax

bitf_ChangeInRevaluationSurplusDigitalAssetsNetOfTax

39,120,000

Change In Revaluation Surplus Digital Assets Net Of Tax

bitf_ChangeInRevaluationSurplusDigitalAssetsNetOfTax

9,242,000

Change In Revaluation Surplus Digital Assets Net Of Tax

bitf_ChangeInRevaluationSurplusDigitalAssetsNetOfTax

9,242,000

Change In Revaluation Surplus Digital Assets Net Of Tax

bitf_ChangeInRevaluationSurplusDigitalAssetsNetOfTax

Change In Revaluation Surplus Digital Assets Net Of Tax

bitf_ChangeInRevaluationSurplusDigitalAssetsNetOfTax

Change In Revaluation Surplus Digital Assets Net Of Tax

bitf_ChangeInRevaluationSurplusDigitalAssetsNetOfTax

Change In Revaluation Surplus Digital Assets Net Of Tax

bitf_ChangeInRevaluationSurplusDigitalAssetsNetOfTax

Change In Revaluation Surplus Digital Assets Net Of Tax

bitf_ChangeInRevaluationSurplusDigitalAssetsNetOfTax

Change In Revaluation Surplus Digital Assets Net Of Tax

bitf_ChangeInRevaluationSurplusDigitalAssetsNetOfTax

Renewal Option Of Additional Term Of Lease

bitf_RenewalOptionOfAdditionalTermOfLease

17 years

Number Of Mines Held For Sale

bitf_NumberOfMinesHeldForSale

15,226

Number Of Mines Held For Sale

bitf_NumberOfMinesHeldForSale

9,169

Number Of Mines Held For Sale

bitf_NumberOfMinesHeldForSale

532

Material Reportable Segment

bitf_MaterialReportableSegment

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

22,222,223

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

3,000,000

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

96,000

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

5,000,000

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

111,111

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

10,613,208

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

1,132,076

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

558,660

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

446,927

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

6,156,070

Warrants To Purchase Common Shares

bitf_WarrantsToPurchaseCommonShares

124,856

Unrecognized Share Based Payment Expense Accelerated

bitf_UnrecognizedShareBasedPaymentExpenseAccelerated

$ 914,000

Share Warrants Issued

bitf_ShareWarrantsIssued

$ 12,893,650

Schedule Of The Outstanding Warrants Table Text Block

bitf_ScheduleOfTheOutstandingWarrantsTableTextBlock

Details of the outstanding warrants are as follows:

	Year ended December 31,
	2024					2023
	Number of warrants			Weighted average exercise price (USD)		Number of warrants			Weighted average exercise price (USD)
Outstanding, January 1,		35,105,390			2.83		19,152,797			4.21
Granted		—			—		25,222,223			1.18
Exercised		(5,111,111	)		1.17		(9,269,630	)		1.18
Expired		(19,152,797	)		4.21		—			—
Outstanding, December 31,		10,841,482			1.17		35,105,390			2.83

Disclosure Of Outstanding Stock Options Table Text Block

bitf_DisclosureOfOutstandingStockOptionsTableTextBlock

Details of the outstanding stock options are as follows:

	Year ended December 31,
	2024					2023
	Number of Options			Weighted Average Exercise Price ($CAD)		Number of Options			Weighted Average Exercise Price ($CAD)
Outstanding, January 1,		20,939,387			2.41		21,804,233			3.47
Granted		9,010,000			2.96		13,156,250			2.58
Exercised		(2,644,873	)		1.50		(3,047,346	)		0.85
Cancelled		—			—		(10,633,750	)		5.15
Forfeited		(142,500	)		2.97		—			—
Expired		(296,250	)		5.90		(340,000	)		5.47
Outstanding, December 31,		26,865,764			2.64		20,939,387			2.41
Exercisable, December 31,		9,515,764			1.58		11,112,519			2.01

Purchase Of Derivative Assets And Liabilities

bitf_PurchaseOfDerivativeAssetsAndLiabilities

$ 13,961,000

Purchase Of Derivative Assets And Liabilities

bitf_PurchaseOfDerivativeAssetsAndLiabilities

Lease Agreement Initial Term

bitf_LeaseAgreementInitialTerm

10 years

Lease Agreement Initial Term

bitf_LeaseAgreementInitialTerm

10 years

Number Of Shares Issued Through Common Shares

bitf_NumberOfSharesIssuedThroughCommonShares

59,866,852

Proceeds From Disposition Of Derivative Assets And Liabilities

bitf_ProceedsFromDispositionOfDerivativeAssetsAndLiabilities

$ 31,120,000

Proceeds From Disposition Of Derivative Assets And Liabilities

bitf_ProceedsFromDispositionOfDerivativeAssetsAndLiabilities

Current Shortterm Prepaid Deposits

bitf_CurrentShorttermPrepaidDeposits

14,554,000

Current Shortterm Prepaid Deposits

bitf_CurrentShorttermPrepaidDeposits

6,393,000

Transfer Of Revaluation Surplus On Disposal Of Digital Assets To Accumulated Deficit Net Of Tax

bitf_TransferOfRevaluationSurplusOnDisposalOfDigitalAssetsToAccumulatedDeficitNetOfTax

19,366,000

Transfer Of Revaluation Surplus On Disposal Of Digital Assets To Accumulated Deficit Net Of Tax

bitf_TransferOfRevaluationSurplusOnDisposalOfDigitalAssetsToAccumulatedDeficitNetOfTax

(19,366,000)

Transfer Of Revaluation Surplus On Disposal Of Digital Assets To Accumulated Deficit Net Of Tax

bitf_TransferOfRevaluationSurplusOnDisposalOfDigitalAssetsToAccumulatedDeficitNetOfTax

6,301,000

Transfer Of Revaluation Surplus On Disposal Of Digital Assets To Accumulated Deficit Net Of Tax

bitf_TransferOfRevaluationSurplusOnDisposalOfDigitalAssetsToAccumulatedDeficitNetOfTax

(6,301,000)

Transfer Of Revaluation Surplus On Disposal Of Digital Assets To Accumulated Deficit Net Of Tax

bitf_TransferOfRevaluationSurplusOnDisposalOfDigitalAssetsToAccumulatedDeficitNetOfTax

Transfer Of Revaluation Surplus On Disposal Of Digital Assets To Accumulated Deficit Net Of Tax

bitf_TransferOfRevaluationSurplusOnDisposalOfDigitalAssetsToAccumulatedDeficitNetOfTax

Transfer Of Revaluation Surplus On Disposal Of Digital Assets To Accumulated Deficit Net Of Tax

bitf_TransferOfRevaluationSurplusOnDisposalOfDigitalAssetsToAccumulatedDeficitNetOfTax

Transfer Of Revaluation Surplus On Disposal Of Digital Assets To Accumulated Deficit Net Of Tax

bitf_TransferOfRevaluationSurplusOnDisposalOfDigitalAssetsToAccumulatedDeficitNetOfTax

Transfer Of Revaluation Surplus On Disposal Of Digital Assets To Accumulated Deficit Net Of Tax

bitf_TransferOfRevaluationSurplusOnDisposalOfDigitalAssetsToAccumulatedDeficitNetOfTax

Transfer Of Revaluation Surplus On Disposal Of Digital Assets To Accumulated Deficit Net Of Tax

bitf_TransferOfRevaluationSurplusOnDisposalOfDigitalAssetsToAccumulatedDeficitNetOfTax

BTCOption Contracts Payable

bitf_BTCOptionContractsPayable

243,000

BTCOption Contracts Payable

bitf_BTCOptionContractsPayable

Employees Exercised Stock Option

bitf_EmployeesExercisedStockOption

2,644,873

Employees Exercised Stock Option

bitf_EmployeesExercisedStockOption

3,047,346

Disclosure Compensation Of Key Management And Directors Table Text Block

bitf_DisclosureCompensationOfKeyManagementAndDirectorsTableTextBlock

The remuneration paid to directors and other members of key management personnel are as follows:

	Year ended December 31,
	2024		2023
Short-term benefits		1,563		1,520
Termination payments		4,114		—
Share-based payments		10,891		9,169
		16,568		10,689

Digital Asset

bitf_DigitalAsset

$ 87,298,000

Digital Asset

bitf_DigitalAsset

31,870,000

Reversal Of Revaluation Loss On Digitals Assets

bitf_ReversalOfRevaluationLossOnDigitalsAssets

(2,695,000)

Reversal Of Revaluation Loss On Digitals Assets

bitf_ReversalOfRevaluationLossOnDigitalsAssets

Foreign Tax Rate Differential Percentage

bitf_ForeignTaxRateDifferentialPercentage

(4.20%)

Foreign Tax Rate Differential Percentage

bitf_ForeignTaxRateDifferentialPercentage

0.10%

Proceeds From Lease Incentive Received

bitf_ProceedsFromLeaseIncentiveReceived

$ 714,000

Proceeds From Lease Incentive Received

bitf_ProceedsFromLeaseIncentiveReceived

Digital Assets Restricted

bitf_DigitalAssetsRestricted

32,826,000

Digital Assets Restricted

bitf_DigitalAssetsRestricted

Vest Grant Percentage

bitf_VestGrantPercentage

33.00%

Vest Grant Percentage

bitf_VestGrantPercentage

50.00%

Vest Grant Percentage

bitf_VestGrantPercentage

25.00%

Mines Upgrade

bitf_MinesUpgrade

18,853

Mines Upgrade

bitf_MinesUpgrade

18,853

Gross Proceeds

bitf_GrossProceeds

$ 375,000

Digital Assets Pledged As Collateral

bitf_DigitalAssetsPledgedAsCollateral

2,101,000

Digital Assets Pledged As Collateral

bitf_DigitalAssetsPledgedAsCollateral

Grant Date Of RSU

bitf_GrantDateOfRSU

1 month

Additional Vest Grant Percentage

bitf_AdditionalVestGrantPercentage

25.00%

Additional Vest Grant Percentage

bitf_AdditionalVestGrantPercentage

33.00%

Additional Vest Grant Percentage

bitf_AdditionalVestGrantPercentage

25.00%

Workers Compensation Discount Prior Years Amount

bitf_WorkersCompensationDiscountPriorYearsAmount

$ 57,000

Workers Compensation Discount Prior Years Amount

bitf_WorkersCompensationDiscountPriorYearsAmount

1,623,000

Closing Transaction Fees

bitf_ClosingTransactionFees

737,000

Extinguishment Of Longterm Loss Debt

bitf_ExtinguishmentOfLongtermLossDebt

$ 12,580,000

Shares Issued Of Warrants

bitf_SharesIssuedOfWarrants

5,000,000

Shares Issued Of Warrants

bitf_SharesIssuedOfWarrants

6,962,693

Prior Year Percentage

bitf_PriorYearPercentage

(0.10%)

Prior Year Percentage

bitf_PriorYearPercentage

(1.50%)

Issuance Of Common Shares

bitf_IssuanceOfCommonShares

5,111,111

Issuance Of Common Shares

bitf_IssuanceOfCommonShares

9,269,360

Nondeductible Expenses And Other Amount

bitf_NondeductibleExpensesAndOtherAmount

$ 13,207,000

Nondeductible Expenses And Other Amount

bitf_NondeductibleExpensesAndOtherAmount

(23,391,000)

Longterm Debt Amount

bitf_LongtermDebtAmount

20,330,000

Impairment On Miners

bitf_ImpairmentOnMiners

3,628,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

51,738,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

16,361,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

68,099,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

37,851,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

15,662,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

62,443,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

9,363,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

125,319,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

45,375,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

7,172,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

5,711,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

58,258,000

Quantity As Of January1

bitf_QuantityAsOfJanuary1

Quantity As Of January1

bitf_QuantityAsOfJanuary1

Quantity As Of January1

bitf_QuantityAsOfJanuary1

Broker Warrants Shares

bitf_BrokerWarrantsShares

111,111

Broker Warrants Shares

bitf_BrokerWarrantsShares

2,306,667

Net Financialincome Expense

bitf_NetFinancialincomeExpense

$ (39,210,000)

Net Financialincome Expense

bitf_NetFinancialincomeExpense

37,194,000

Asset Retirement Provision

bitf_AssetRetirementProvision

2,106,000

Asset Retirement Provision

bitf_AssetRetirementProvision

$ 1,816,000

Schedule Of Impairment

bitf_ScheduleOfImpairment

The following table details the impairment recorded for the year ended December 31, 2023:

Year ended December 31,
							2023
	Short-term prepaid deposits		Assets held for sale		Property, plant and equipment		Total
Immersion cooling equipment		—		—		1,882		1,882
Short-term deposits		6,982		—		—		6,982
Miners held for sale		—		388		—		388
Suni mineral asset		—		—		3,000		3,000
		6,982		388		4,882		12,252

Schedule Of Quantity And Models Of BTCMiners Table Text Block

bitf_ScheduleOfQuantityAndModelsOfBTCMinersTableTextBlock

Further details of the quantity and models of BTC Miners held by the Company as of December 31, 2024 and December 31, 2023 are as follows:

	Notes		MicroBT WhatsMiner*			Bitmain S19j Pro			Bitmain T21		Bitmain S21**		Total
Quantity as of January 1, 2024				51,738			16,361			—		—		68,099
Additions				1,943			—			62,443		9,363		73,749
Dispositions				(15,830	)		(699	)		—		—		(16,529	)
Quantity as of December 31, 2024				37,851			15,662			62,443		9,363		125,319
Classified as assets held for sale		10		(24,927	)		(7,996	)		—		—		(32,923	)
Presented as property, plant and equipment				12,924			7,666			62,443		9,363		92,396

Includes 23,106 M30 of which 15,226 are classified as assets held for sale, 10,329 M31 of which 9,169 are classified as assets held for sale, 2,473 M50 of which 532 are classified as assets held for sale and 1,943 M53 Miners.

Includes 3,975 S21, 4,523 S21 Pro and 865 S21 Hydro Miners.

Refer to Note 10 for more details on assets held for sale.

	Notes		MicroBT WhatsMiner*			Bitmain S19j Pro			Innosilicon T3 & T2T			Bitmain S19XP			Total
Quantity as of January 1, 2023				45,375			7,172			5,711			—			58,258
Additions				8,281			9,289			—			409			17,979
Dispositions				(1,918	)		(100	)		(5,711	)		(409	)		(8,138	)
Quantity as of December 31, 2023				51,738			16,361			—			—			68,099
Classified as assets held for sale		10		(731	)		(300	)		—			—			(1,031	)
Presented as property, plant and equipment				51,007			16,061			—			—			67,068

Includes 731 M20S classified as assets held for sale, 36,018 M30S, 12,517 M31S and 2,473 M50 Miners.

Proceeds From Disposition Of Marketable Securities

bitf_ProceedsFromDispositionOfMarketableSecurities

$ 24,688,000

Proceeds From Disposition Of Marketable Securities

bitf_ProceedsFromDispositionOfMarketableSecurities

$ 48,507,000

Nondeductible Expenses And Other Percentage

bitf_NondeductibleExpensesAndOtherPercentage

19.30%

Nondeductible Expenses And Other Percentage

bitf_NondeductibleExpensesAndOtherPercentage

(21.40%)

Prepayment Of Equipment And Construction Prepayments

bitf_PrepaymentOfEquipmentAndConstructionPrepayments

$ 52,935,000

Prepayment Of Equipment And Construction Prepayments

bitf_PrepaymentOfEquipmentAndConstructionPrepayments

$ 22,869,000

Deposit Annual Interest Rate

bitf_DepositAnnualInterestRate

1.00%

Bitcoin Issued Description

bitf_BitcoinIssuedDescription

A BTC Halving event is scheduled to occur once every 210,000 blocks, or roughly every four years, until the total amount of BTC rewards issued reaches 21 million, which is expected to occur around 2140. The most recent BTC Halving event occurred on April 19, 2024, at which time BTC block rewards decreased from 6.25 BTC per block to 3.125 BTC per block. Once 21 million BTC are generated, the network will stop producing more BTC, and the industry will then need to rely on transaction fees and/or other sources of revenue. While BTC prices have had a history of significant fluctuations around BTC Halving events, there is no guarantee that the price change will be favorable or would compensate for the reduction in Mining rewards and the compensation from Mining pool operators.

Deferred Tax Asset Not Recognized Percentage

bitf_DeferredTaxAssetNotRecognizedPercentage

(20.60%)

Deferred Tax Asset Not Recognized Percentage

bitf_DeferredTaxAssetNotRecognizedPercentage

(3.30%)

Lease Agreements Amount

bitf_LeaseAgreementsAmount

$ 16,000

Lease Agreements Amount

bitf_LeaseAgreementsAmount

$ 21,000

Increase Decrease In Number Of Shares Exercise Of Stock Options And Warrantsin Shares

bitf_IncreaseDecreaseInNumberOfSharesExerciseOfStockOptionsAndWarrantsinShares

7,755,984

Increase Decrease In Number Of Shares Exercise Of Stock Options And Warrantsin Shares

bitf_IncreaseDecreaseInNumberOfSharesExerciseOfStockOptionsAndWarrantsinShares

12,316,976

Proceeds From Common Shares

bitf_ProceedsFromCommonShares

$ 10,984,000

Disclosure Of Detailed Information About Trade Payables And Accrued Liabilities Table Text Block

bitf_DisclosureOfDetailedInformationAboutTradePayablesAndAccruedLiabilitiesTableTextBlock

	As of December 31,		As of December 31,
	2024		2023
Trade accounts payable and accrued liabilities		21,915		9,077
BTC option contracts payable		243		—
Government remittances*		3,736		11,662
		25,894		20,739

Refer to Note 29b for more details about the reversal of Canadian government remittances payable.

Consumer Price Percentage

bitf_ConsumerPricePercentage

3.00%

Effective Tax Rate

bitf_EffectiveTaxRate

$ 14,290,000

Effective Tax Rate

bitf_EffectiveTaxRate

401,000

Contributed Surplus

bitf_ContributedSurplus

67,521,000

Contributed Surplus

bitf_ContributedSurplus

56,622,000

Deposit Amount

bitf_DepositAmount

6,982,000

Deposit Amount

bitf_DepositAmount

7,800,000

Trade And Other Payable

bitf_TradeAndOtherPayable

21,915,000

Trade And Other Payable

bitf_TradeAndOtherPayable

$ 9,077,000

Currency Increase Decrease Percentage

bitf_CurrencyIncreaseDecreasePercentage

5.00%

Lease Activity

bitf_LeaseActivity

The lease agreement also provides the Company with the option to purchase the site for $2,248 (CAD$3,000) with an annual adjustment at the lesser of (i) the change in the Consumer Price Index and (ii) 3% throughout the lease term.

Effective Tax Rate Percentage

bitf_EffectiveTaxRatePercentage

20.90%

Effective Tax Rate Percentage

bitf_EffectiveTaxRatePercentage

0.40%

Schedule Of Deferred Tax Liability Table Text Block

bitf_ScheduleOfDeferredTaxLiabilityTableTextBlock

Movement in deferred tax liability for the years ending December 31, 2024 and 2023, without taking into consideration the offsetting of balances within the same tax jurisdiction, is as follows:

	PPE			ROU Asset			Reserves and other			Total
As of January 1, 2023		21,518			5,930			—			27,448
Credited to statements of profit or loss		(4,164	)		(2,333	)		1,288			(5,209	)
As of December 31, 2023		17,354			3,597			1,288			22,239
Credited to statements of profit or loss		(14,634	)		1,657			(484	)		(13,461	)
Charged to other comprehensive income		—			—			14,104			14,104
As of December 31, 2024		2,720			5,254			14,908			22,882
Offsetting deferred tax assets as of December 31, 2024											(22,817	)
Net deferred tax liabilities as of December 31, 2024											65

Weighted Average Remaining Contractual Life Of Outstanding Share Options

bitf_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions

3 years 8 months 12 days

Weighted Average Remaining Contractual Life Of Outstanding Share Options

bitf_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions

4 years 1 month 6 days

Net Proceed

bitf_NetProceed

$ 36,123,000

Net Proceed

bitf_NetProceed

$ 30,994,000

Disclosure Of Current And Deferred Income Tax Expense Recovery Table Text Block

bitf_DisclosureOfCurrentAndDeferredIncomeTaxExpenseRecoveryTableTextBlock

Current and deferred income tax (expense) recovery

	Year ended December 31,
	2024			2023
Current tax (expense) recovery:
Current year		(498	)		(2,679	)
Prior year		748			(252	)
		250			(2,931	)

Deferred tax recovery (expense):
Current year		14,845			4,703
Prior year		(805	)		(1,371	)
		14,040			3,332
		14,290			401

Equipment Identity Register Percentage

bitf_EquipmentIdentityRegisterPercentage

12.00%

Equipment Identity Register Percentage

bitf_EquipmentIdentityRegisterPercentage

9.00%

Equipment Identity Register Percentage

bitf_EquipmentIdentityRegisterPercentage

6.00%

Disclosure Of Sharebased Compensation Arrangement By Sharebased Payment Award Options Grants Table Text Block

bitf_DisclosureOfSharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsTableTextBlock

The inputs used to value the stock option grants using the Black-Scholes model are as follows:

Grant date	May 22, 2024			August 23, 2024			September 5, 2024			September 30, 2024			December 18, 2024
Dividend yield (%)		—			—			—			—			—
Expected share price volatility (%)		83	%		82	%		82	%		82	%		81	%
Risk-free interest rate (%)		4.64	%		3.73	%		3.61	%		3.58	%		4.35	%
Expected life of stock options (years)		3			3			3			3			3
Share price (CAD)		2.55			3.07			2.62			3.03			2.60
Exercise price (CAD)		2.55			3.07			2.62			3.03			2.60
Fair value of options (USD)		0.97			1.16			1.00			1.15			0.92
Vesting period (years)		1.5			1.5			1.5			1.5			1.5
Number of options granted		330,000			400,000			480,000			7,200,000			600,000

Disclosure Of Foreign Currency Risk Table Text Block

bitf_DisclosureOfForeignCurrencyRiskTableTextBlock

Amounts denominated in CAD and ARS included in the consolidated statements of financial position, presented in thousands of USD, are as follows:

	As a of December 31,						As a of December 31,
	2024						2023
	CAD			ARS			CAD			ARS
Cash		5,362			1,983			8,904			183
Trade receivables		1,259			(6	)		714			—
Trade payables and accrued liabilities		(5,341	)		(1,385	)		(8,372	)		(544	)
Long-term debt		(1,576	)		—			—			—
		(296	)		592			1,246			(361	)

Warrants Relating To The Acquisition

bitf_WarrantsRelatingToTheAcquisition

25,000

Disclosure Of Restricted Stock Units Table Text Block

bitf_DisclosureOfRestrictedStockUnitsTableTextBlock

Details of the RSUs are as follows:

	Year ended December 31,
	2024					2023
	Number of RSUs			Weighted Average Grant Price ($CAD)		Number of RSUs			Weighted Average Grant Price ($CAD)
Outstanding, January 1,		624,998			4.05		400,000			3.73
Granted		706,000			3.27		475,000			3.83
Settled		(416,666	)		3.64		(250,002	)		3.13
Forfeited		(16,666	)		5.01		—			—
Outstanding, December 31,		897,666			3.61		624,998			4.05

Loss In Net Financial Income Expenses

bitf_LossInNetFinancialIncomeExpenses

$ 1,571,000

Proceeds From Exercise Of Stock Options And Warrants

bitf_ProceedsFromExerciseOfStockOptionsAndWarrants

8,883,000

Proceeds From Exercise Of Stock Options And Warrants

bitf_ProceedsFromExerciseOfStockOptionsAndWarrants

$ 12,983,000

Schedule Of Revenues Table Text Block

bitf_ScheduleOfRevenuesTableTextBlock

Revenues* by country are as follows:

	Year ended December 31,
	2024		2023
North America
Canada		116,846		104,434
United States		16,428		15,966
		133,274		120,400
South America
Paraguay		25,960		6,916
Argentina		33,647		19,050
		59,607		25,966
		192,881		146,366

*Revenues are presented based on the geographical contribution of computational power used for hashing calculations (measured by hashrate) or sales to external customers. During the years ended December 31, 2024 and 2023, the Company earned 97% and 97% of its revenues, respectively, from one Mining pool operator. The Company has the ability to switch Mining Pools or to mine independently at any time.

Adjustments For Proceeds From Sale Of Digital Assets Earned

bitf_AdjustmentsForProceedsFromSaleOfDigitalAssetsEarned

$ (186,527,000)

Adjustments For Proceeds From Sale Of Digital Assets Earned

bitf_AdjustmentsForProceedsFromSaleOfDigitalAssetsEarned

$ (141,306,000)

Number Of Immediate Capacity

bitf_NumberOfImmediateCapacity

Disclosure Of Carrying Values And The Fair Value Of Assets And Liabilities Table Text Block

bitf_DisclosureOfCarryingValuesAndTheFairValueOfAssetsAndLiabilitiesTableTextBlock

The following tables show the carrying values and the fair value of assets and liabilities for each of the applicable categories:

		As of December 31,		As of December 31,
Measurement		2024		2023
Financial assets at amortized cost
Cash	Level 1		59,542		84,038
Trade receivables	Level 3		1,259		714
Other receivables	Level 3		1,387		689
Security deposits for energy	Level 2		7,740		277
Refundable Hosting Deposits	Level 2		14,216		—

Financial assets at fair value through profit and loss
Derivative assets	Level 2		3,418		1,281
Total carrying amount and fair value			87,562		86,999

Financial liabilities at amortized cost
Trade accounts payable and accrued liabilities	Level 3		22,158		9,077
Long-term debt	Level 2		1,576		4,022

Financial liabilities at fair value through profit and loss
Derivative liabilities	Level 2		128		—
Warrant liabilities	Level 2		8,013		40,426
Total carrying amount and fair value			31,875		53,525

Net carrying amount and fair value			55,687		33,474

Schedule Of The Table Details The Movement In The Refundable Deposits Table Text Block

bitf_ScheduleOfTheTableDetailsTheMovementInTheRefundableDepositsTableTextBlock

The following table details the movement in the refundable deposits:

	As of December 31,
	2024
	Panther Creek			Scrubgrass			Total Refundable Hosting Deposits			Security deposits for energy			Total refundable deposits
Balance as of January 1,		—			—			—			277			277
Additions		7,800			7,800			15,600			9,034			24,634
Initial loss on recognition		(675	)		(258	)		(933	)		(1,571	)		(2,504	)
Fair value at initial recognition		7,125			7,542			14,667			7,740			22,407
Interest income		261			103			364			—			364
ECLs		(409	)		(406	)		(815	)		—			(815	)
Balance as of period end		6,977			7,239			14,216			7,740			21,956

Total Development Capacity

bitf_TotalDevelopmentCapacity

110

Schedule Of Property Plant And Equipment By Country Table Text Block

bitf_ScheduleOfPropertyPlantAndEquipmentByCountryTableTextBlock

The net book value of property, plant and equipment and other non-current assets (excluding financial assets and deferred tax assets) by country is as follows:

	As of December 31,						As of December 31,
	2024						2023
	PPE		Other		Total non-current assets		PPE		Other		Total non-current assets
North America
Canada		117,615		54,291		171,906		101,454		48,974		150,428
United States		62,854		15,491		78,345		18,154		2,038		20,192
		180,469		69,782		250,251		119,608		51,012		170,620
South America
Paraguay		112,452		12,594		125,046		11,747		6,041		17,788
Argentina		55,604		1,050		56,654		54,657		5,399		60,056
		168,056		13,644		181,700		66,404		11,440		77,844
		348,525		83,426		431,951		186,012		62,452		248,464

Disclosure Of Significant Subsidiariestable Text Block

bitf_DisclosureOfSignificantSubsidiariestableTextBlock

The Company’s significant subsidiaries as of December 31, 2024 are as follows:

Company name	Security type	Main place of business	Securities			Equity			Voting
Backbone	Common shares	CAN		100	%		100	%		100	%
Backbone Argentina	Ordinary shares	ARG		100	%		100	%		100	%
Backbone Paraguay	Ordinary shares	PAR		100	%		100	%		100	%
Backbone Mining	Common shares	USA		100	%		100	%		100	%
Backbone Sharon	Common shares	USA		100	%		100	%		100	%
Backbone Paso Pe	Ordinary shares	PAR		100	%		100	%		100	%
Backbone Yguazu	Ordinary shares	PAR		100	%		100	%		100	%
Backbone Paraguay LP	Common shares	PAR		100	%		100	%		100	%
Orion	Common shares	CAN		100	%		100	%		100	%
Volta	Common shares	CAN		100	%		100	%		100	%

Additional Immediate Capacity

bitf_AdditionalImmediateCapacity

Number Of Bitmain

bitf_NumberOfBitmain

6,100

Disclosure Of Share Based Payment Expense Related To Stock Options And Restricted Stock Units Table Text Block

bitf_DisclosureOfShareBasedPaymentExpenseRelatedToStockOptionsAndRestrictedStockUnitsTableTextBlock

The share-based payment expense related to stock options (“Options”) and restricted stock units (“RSU”) for employees, directors, consultants and former employees received was as follows:

	Year ended December 31,
	2024		2023
Equity-settled share-based payment plans		13,949		10,915

Prepayment Penalties Amount

bitf_PrepaymentPenaltiesAmount

$ 829,000

Impairment Charge

bitf_ImpairmentCharge

$ 1,882,000

Forecast [Member]

Number Of Shares Issued Through Common Shares

bitf_NumberOfSharesIssuedThroughCommonShares

14,444,643

Transaction Of Net Tax Payments

bitf_TransactionOfNetTaxPayments

$ 12,038

Mining Assets Closing Period

bitf_MiningAssetsClosingPeriod

6 months

Gross Proceeds

bitf_GrossProceeds

$ 24,386,000

Mining Assets Closing

bitf_MiningAssetsClosing

$ 31,000

Purchase Order Return Share

bitf_PurchaseOrderReturnShare

4,160

Purchase Order

bitf_PurchaseOrder

3,660

Option To Pay Net Amount

bitf_OptionToPayNetAmount

$ 2,374,000

Option To Pay Net Amount

bitf_OptionToPayNetAmount

2,374

Purchase Price

bitf_PurchasePrice

11,858,000

Bitmain T21 Miners Received Or In Transit Member

Deposit Balance Purchase Order