<SEC-DOCUMENT>0001213900-22-013253.txt : 20220317
<SEC-HEADER>0001213900-22-013253.hdr.sgml : 20220317
<ACCEPTANCE-DATETIME>20220317163650
ACCESSION NUMBER:		0001213900-22-013253
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220317
FILED AS OF DATE:		20220317
DATE AS OF CHANGE:		20220317

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bitfarms Ltd
		CENTRAL INDEX KEY:			0001812477
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Z4
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40370
		FILM NUMBER:		22749078

	BUSINESS ADDRESS:	
		STREET 1:		1376 BAYVIEW AVE
		STREET 2:		UNIT 1
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4G 3A1
		BUSINESS PHONE:		416 804-8535

	MAIL ADDRESS:	
		STREET 1:		1376 BAYVIEW AVE
		STREET 2:		UNIT 1
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4G 3A1
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea157051-6k_bitfarms.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>UNITED STATES</B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES AND
EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>FORM&nbsp;6-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of March 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-40370</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>BITFARMS LTD.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>18 King Street East, Suite&nbsp;902, Toronto,
Ontario, Canada M5C 1C4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form&nbsp;20-F&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1):&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7):&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INCORPORATION BY REFERENCE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 17, 2022, the Registrant filed with the Canadian Securities
Regulatory Authorities on the System for Electronic Data Analysis and Retrieval (SEDAR) a material change report that includes a copy
of a press release, a copy of which is attached hereto as Exhibit 99.1, and which is incorporated by reference to the Company&rsquo;s
Registration Statement on&nbsp;Form F-10 (File No. 333-258788).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 12%; text-align: justify"><B>Exhibits</B></TD>
    <TD STYLE="width: 88%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">Exhibit&nbsp;No.</TD>
    <TD STYLE="text-align: justify">Description</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">99.1</TD>
    <TD STYLE="text-align: justify"><A HREF="ea157051ex99-1_bitfarms.htm" STYLE="-sec-extract: exhibit">Material Change Report dated March 17, 2022</A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><B>BITFARMS LTD.</B></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 41%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">/s/ L. Geoffrey Morphy</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>&nbsp;L. Geoffrey Morphy</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>&nbsp;President</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: March 17, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea157051ex99-1_bitfarms.htm
<DESCRIPTION>MATERIAL CHANGE REPORT DATED MARCH 17, 2022
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 51-102F3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MATERIAL CHANGE REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 1</B></TD><TD><B>Name and Address of Company </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bitfarms Ltd. (&ldquo;Bitfarms&rdquo; or the &ldquo;Company&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">18 King Street East, Suite 902</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, Ontario M5C 1C4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 2</B></TD><TD><B>Date of Material Change </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 17, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 3</B></TD><TD><B>News Release </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The press release attached as Schedule &ldquo;A&rdquo; was released
on March 17, 2022 by a newswire company in Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 4</B></TD><TD><B>Summary of Material Change </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The material change is described in the press release attached as Schedule
&ldquo;A&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 5</B></TD><TD><B>Full Description of Material Change </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The material change is described in the press release attached as Schedule
&ldquo;A&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 6</B></TD><TD><B>Reliance of subsection 7.1(2) of National Instrument 51-102 </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 7</B></TD><TD><B>Omitted Information </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 8</B></TD><TD><B>Executive Officer </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nicolas Bonta</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Executive Chairman &amp; Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bitfarms Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">nbonta@bitfarms.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9&#9;Date of Report </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 17, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 199pt 0pt 2.5in; text-align: center">Schedule &ldquo;A&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="image_002.jpg" ALT="A picture containing text, tableware, dishware  Description automatically generated" STYLE="width: 242px; height: 65px"></P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Bitfarms Commences Production at The Bunker</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 12pt">-</FONT> <FONT STYLE="font-size: 12pt"><B>New Location Delivering 300 Petahash -</B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 48.55pt 0pt 0; text-align: center; color: #545454"><I>This news release
constitutes a &ldquo;designated news release&rdquo; for the purposes of the Company&rsquo;s prospectus supplement dated August 16, 2021
to its short form base shelf prospectus dated August 12, 2021.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.15pt 0pt 0; text-align: justify"><B>Toronto,
Ontario and Brossard, Qu&eacute;bec (March 17, 2022) </B>- Bitfarms Ltd. (<U>NASDAQ: BITF // TSX-V: BITF</U>), a global Bitcoin self-mining
company, commenced production at The Bunker, located in Sherbrooke, Qu&eacute;bec. As Bitfarms previously announced in October 2021, The
Bunker is being constructed in three phases, phase one of which has been completed, and initial capacity of 12 megawatts (MW) is available
and being utilized as previous miner deliveries are already installed. The Bunker increases farms in production to eight and total capacity
to 118 MW.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.4pt 0pt 0; text-align: justify">&ldquo;Timely construction and miner
deployments are key factors to achieving our 3 exahash per second (EH/s) goal,&rdquo; said Emiliano Grodzki, CEO of Bitfarms. &ldquo;Energizing
The Bunker moves us one step closer to meeting that target. Rapid deployment of mining assets is underway, and The Bunker is presently
operating at 300 petahash. With an additional 1,000 miners contemporaneously being redeployed in Paraguay, this brings our total current
hashrate to 2.7 EH/s, which is a 17% increase since the beginning of March. The Bunker, along with our nearby Leger location, will contribute
a substantial boost to our goal of achieving 3 EH/s for early Q2-2022.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.25pt 0pt 0; text-align: justify">Upon full buildout, The Bunker is expected
to be a 48 MW facility housing 13,000 miners, anticipated to deliver 1,300 petahash per second (PH/s). Construction is being done in three
phases. As described, phase one of the construction has been completed and miner deliveries and installations are underway. Phases two
and three, each representing 18 MW, are proceeding as planned toward targeted completion in Q2-2022 and Q3-2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Bitfarms Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.25pt 0pt 0; text-align: justify">Founded in 2017, Bitfarms is a global
Bitcoin self-mining company, running vertically integrated mining operations with onsite technical repair, proprietary data analytics
and Company-owned electrical engineering and installation services to deliver high operational performance and uptime.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.3pt 0pt 0; text-align: justify">Having demonstrated rapid growth and
stellar operations, Bitfarms became the first Bitcoin mining company to complete its long form prospectus with the Ontario Securities
Commission and started trading on the TSX-V in July 2019. On February 24, 2021,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.35pt 0pt 0; text-align: justify">Bitfarms was honoured to be announced
as a Rising Star by the TSX-V. On June 21, 2021, Bitfarms started trading on the Nasdaq Stock Market. On February 24, 2022, the Company
was further honoured by the TSX-V as a Venture 50 Winner, placing first in the Technology sector.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.15pt 0pt 0; text-align: justify">Operationally, Bitfarms has a diversified
production platform with five industrial scale facilities located in Qu&eacute;bec, one in Washington state, and one in Paraguay. Each
facility is over 99% powered with environmentally friendly hydro power and secured with long- term power contracts. Bitfarms is currently
the only publicly traded pure-play crypto mining company audited by a Big Four accounting firm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.4pt 0pt 0">To learn more about Bitfarms&rsquo; events, developments,
and online communities: <FONT STYLE="color: #444444">Website: </FONT><FONT STYLE="color: Black">www.bitfarms.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 155.45pt 0pt 0; color: #489ED5"><FONT STYLE="color: Black">https://www.facebook.com/bitfarms/
https://twitter.com/Bitfarms_io https://www.instagram.com/bitfarms/ https://www.linkedin.com/company/bitfarms/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #444444"><B><I>Cautionary Statement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 0; text-align: justify; color: #444444"><I>Trading in the securities
of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved
or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange), Nasdaq, or any other securities exchange or regulatory authority accepts responsibility
for the adequacy or accuracy of this release.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #444444"><B><I>Forward-Looking Statements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.15pt 0pt 0; text-align: justify; color: #444444"><I>This news release
contains certain &ldquo;forward-looking information&rdquo; and &ldquo;forward-looking statements&rdquo; (collectively, &ldquo;forward-looking
information&rdquo;) that are based on expectations, estimates and projections as at the date of this news release and are covered by
safe harbors under Canadian and United States securities laws. The information in this release regarding expectations in respect to successful
operation of the first phase of The Bunker mining facility on an economic basis, and construction and operation of the remaining phases
of The Bunker mining facility on the terms as announced and on an economic basis, meeting the Company&rsquo;s capacity and hashrate goals
and the Company&rsquo;s expansion plans, and about other future plans and objectives of the Company are forward- looking information.
Other forward-looking information includes, but is not limited to, information concerning: the intentions, plans and future actions of
the Company, as well as Bitfarms&rsquo; ability to successfully mine digital currency, revenue increasing as currently anticipated, the
ability to profitably liquidate current and future digital currency inventory, volatility of network difficulty and digital currency
prices and the potential resulting significant negative impact on the Company&rsquo;s operations, the construction and operation of expanded
blockchain infrastructure as currently planned, and the regulatory environment for cryptocurrency in the applicable jurisdictions.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.2pt 0pt 0; text-align: justify; color: #444444"><I>Any statements that
involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or
performance (often but not always using phrases such as &ldquo;expects&rdquo;, or &ldquo;does not expect&rdquo;, &ldquo;is expected&rdquo;,
&ldquo;anticipates&rdquo; or &ldquo;does not anticipate&rdquo;, &ldquo;plans&rdquo;, &ldquo;budget&rdquo;, &ldquo;scheduled&rdquo;, &ldquo;forecasts&rdquo;,
&ldquo;estimates&rdquo;, &ldquo;believes&rdquo; or &ldquo;intends&rdquo; or variations of such words and phrases or stating that certain
actions, events or results &ldquo;may&rdquo; or &ldquo;could&rdquo;, &ldquo;would&rdquo;, &ldquo;might&rdquo; or &ldquo;will&rdquo; be
taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify
forward-looking information.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I></I></P>

<!-- Field: Page; Sequence: 3 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.15pt 0pt 0; text-align: justify"><I>This forward-looking information
is based on assumptions and estimates of management of the Company at the time they were made, and involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include,
among others, risks relating to: the ability to successfully operate the first phase of The Bunker mining facility on an economic basis,
and the ability to construct and operate the remaining phases of The Bunker mining facility on the terms as announced and on an economic
basis; the global economic climate; dilution; the Company&rsquo;s limited operating history; future capital needs and uncertainty of
additional financing, including the Company&rsquo;s ability to utilize the Company&rsquo;s at-the-market offering (the &ldquo;ATM Program&rdquo;)
and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks
relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital;
the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion;
the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government
regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working
systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost
of capital; share dilution resulting from the ATM Program and from other equity issuances; and volatile securities markets impacting
security pricing unrelated to operating performance. In addition, particular factors that could impact future results of the business
of Bitfarms include, but are not limited to: the construction and operation of blockchain infrastructure may not occur as currently planned,
or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully
mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the
current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations;
an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the
anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions,
<FONT STYLE="color: Black">the ability to complete current and future financings, any regulations or laws that will prevent Bitfarms
from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent
with historical prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but
not limited to the effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour and international
travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business,
or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to the Company&rsquo;s
filings on www.SEDAR.com (which are also available on the website of the U.S. Securities and Exchange Commission at www.sec.gov), including
the annual information form for the year ended December 31, 2020, filed on April 7, 2021. The Company has also assumed that no significant
events occur outside of Bitfarms&rsquo; normal course of business. Although the Company has attempted to identify important factors that
could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on any forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information
other than as required by law.</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Contacts</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 342.7pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 342.7pt 0pt 0"><B>Investor Relations: LHA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 342.7pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 342.7pt 0pt 0"><B>Investor Relations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #303030">David Barnard</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #303030">+1 415-433-3777</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #0462C1"><FONT STYLE="color: Black">Investors@bitfarms.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>US Media:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>YAP Global</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 301.25pt 0pt 0">Mia Grodsky,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 301.25pt 0pt 0">Account Executive <FONT STYLE="color: #0462C1"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 301.25pt 0pt 0"><FONT STYLE="color: Black">mia@yapglobal.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212121"><B>Qu&eacute;bec Media:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Ryan Affaires publiques</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 182.5pt 0pt 0">Val&eacute;rie Pomerleau, Public Affairs and Communications
<FONT STYLE="color: Black"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 182.5pt 0pt 0"><FONT STYLE="color: Black">valerie@ryanap.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 182.5pt 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 182.5pt 0pt 0"><FONT STYLE="color: Black"></FONT></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 182.5pt 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0; color: #303030">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0; color: #303030">&nbsp;</P>
<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
