<SEC-DOCUMENT>0001213900-22-033972.txt : 20220621
<SEC-HEADER>0001213900-22-033972.hdr.sgml : 20220621
<ACCEPTANCE-DATETIME>20220621161127
ACCESSION NUMBER:		0001213900-22-033972
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220621
FILED AS OF DATE:		20220621
DATE AS OF CHANGE:		20220621

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:		221028242

	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>ea161857-6k_bitfarms.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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



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

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

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

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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

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

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



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal executive offices)</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">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
&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F &#9746;</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): &#9744;</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): &#9744;</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"></P>

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    <!-- 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: 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; text-align: justify; margin: 0pt 0">On June 21, 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. <A HREF="http://www.sec.gov/Archives/edgar/data/1812477/000121390021042378/ea145070-f10_bitfarmsltd.htm">333-258788</A>).</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-top: 0in; margin-bottom: 0in; margin-left: 0in; text-indent: 0in; text-align: justify"><B>Exhibits</B></P>

<P STYLE="margin: 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="border-bottom: Black 1.5pt solid; text-align: justify; width: 9%">Exhibit&nbsp;No.</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; width: 90%">Description</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&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>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="ea161857ex99-1_bitfarms.htm">Material Change Report dated June 21, 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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<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: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt 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: June 21, 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">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">2</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"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea161857ex99-1_bitfarms.htm
<DESCRIPTION>MATERIAL CHANGE REPORT DATED JUNE 21, 2022
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>Item 1</B> <B>Name and Address of Company </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">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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>Item 2</B> <B>Date of Material Change </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">June 21, 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-top: 0pt; margin-bottom: 0pt"> <B>Item 3</B> <B>News Release </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">The press release attached as Schedule &ldquo;A&rdquo; was released
on June 21, 2022 by a newswire company in Canada.</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-top: 0pt; margin-bottom: 0pt"> <B>Item 4</B> <B>Summary of Material Change </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">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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>Item 5</B> <B>Full Description of Material Change </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">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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>Item 6</B> <B>Reliance of subsection 7.1(2) of National Instrument 51-102 </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">Not applicable.</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-top: 0pt; margin-bottom: 0pt"> <B>Item 7</B> <B>Omitted Information </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">Not applicable.</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-top: 0pt; margin-bottom: 0pt"> <B>Item 8</B> <B>Executive Officer </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">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 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">June 21, 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 0; text-align: center">SCHEDULE &ldquo;A&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="ex99-1_001.jpg" ALT="">&nbsp;</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 0; text-align: center"><B>Bitfarms Adjusts HODL Strategy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18pt; text-align: center">- Pays down BTC-back credit facility to
US$38 million -</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18pt; text-align: center">- Currently holds total of 3,349 BTC &ndash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18pt; text-align: center">- Daily BTC production of approximately
14 BTC adds further liquidity -</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.55pt 0pt 36pt; text-align: justify"><FONT STYLE="background-color: white"><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></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 0; text-align: justify; text-indent: -0.5pt"><B>Toronto, Ontario and Brossard,
Qu&eacute;bec (June 21, 2022)</B> - <U>Bitfarms Ltd.</U>&nbsp;(<U>NASDAQ: BITF // TSX: BITF</U>), a global Bitcoin self-mining company,
adjusted its HODL strategy to improve liquidity and strengthen its balance sheet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.5pt">Over the past week, Bitfarms
has sold a total of 3,000 Bitcoin (BTC) for approximately US$62 million and closed on its previously announced US$37 million in new equipment
financing with NYDIG ABL LLC (NYDIG) improving corporate liquidity by approximately US$100 million. This brings total BTC holdings to
3,349, inclusive of month-to-date production, which is currently averaging about 14 BTC per day. Bitfarms has applied a portion of the
proceeds to rebalance its indebtedness by reducing its BTC-backed credit facility with Galaxy Digital LLC (Galaxy) a further US$28 million
from US$66 million to US$38 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.5pt">&ldquo;In consideration of
extreme volatility in the markets, we have continued to take action to enhance liquidity and to de-leverage and strengthen our balance
sheet. Specifically, we sold 1,500 more Bitcoin and are no longer HODLing all our daily BTC production,&rdquo; said Jeff Lucas, CFO of
Bitfarms. &ldquo;While we remain bullish on long-term BTC price appreciation, this strategic change enables us to focus on our top priorities
of maintaining our world-class mining operations and continuing to grow our business in anticipation of improved mining economics.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.5pt">&ldquo;Since January 2021,
we have been funding operations and growth through various financing measures. We believe that selling a portion of our BTC holdings and
daily production as a source of liquidity is the best and least expensive method in the current market environment,&rdquo; added Lucas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.5pt">As of June 20, 2022, Bitfarms
held cash of US$42 million and 3,349 BTC valued at approximately US$67 million at a BTC price of US$20,000. Bitfarms is in compliance
with all its credit obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-align: justify; text-indent: -0.55pt"><FONT STYLE="background-color: #FEFEFE"><B>About
Bitfarms Ltd.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-align: justify; text-indent: -0.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: justify; text-indent: -0.5pt; background-color: #FEFEFE">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 0pt 0.5pt; text-align: left; text-indent: -0.5pt; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-align: justify; text-indent: -0.55pt; background-color: #FEFEFE">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, 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 Venture 50 Winner, placing first in the Technology sector. On April 8, 2022, Bitfarms
up-listed from the TSX-V to the TSX.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-align: left; text-indent: -0.55pt; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-align: justify; text-indent: -0.55pt; background-color: #FEFEFE">Operationally,
Bitfarms has a diversified production platform with seven 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 mining company audited by a Big Four accounting firm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-align: justify; text-indent: -0.55pt; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: #FEFEFE">To learn
more about Bitfarms&rsquo; events, developments, and online communities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: #FEFEFE">Website:&nbsp;www.bitfarms.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: #FEFEFE">https://www.facebook.com/bitfarms/<BR>
https://twitter.com/Bitfarms_io<BR>
https://www.instagram.com/bitfarms/<BR>
https://www.linkedin.com/company/bitfarms/</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-align: justify; text-indent: -0.7pt; background-color: #FEFEFE"><B><I>Cautionary
Statement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: left; text-indent: -0.5pt; background-color: #FEFEFE"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: justify; text-indent: -0.5pt; background-color: #FEFEFE"><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 Toronto Stock 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 0pt 0.5pt; text-align: justify; text-indent: -0.5pt; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-align: justify; text-indent: -0.7pt; background-color: #FEFEFE"><B><I>Forward-Looking
Statements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: left; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: justify; text-indent: -0.5pt"><FONT STYLE="background-color: #FEFEFE"><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 the benefits of completing a debt reduction program funded by the sale of BTC, entering into an equipment
financing facility 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></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: justify; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: justify; text-indent: -0.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: justify; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: justify; text-indent: -0.5pt"><FONT STYLE="background-color: #FEFEFE"><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></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: left; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: justify; text-indent: -0.5pt"><FONT STYLE="background-color: #FEFEFE"><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 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; the ability to maintain
reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes
in the energy regimes in the jurisdictions in which the Company operates; 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 <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">include, but are not limited to: the construction
and operation of facilities 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></I></FONT><I><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">;
<FONT STYLE="background-color: #FEFEFE">the inability to maintain reliable and economical sources of power for the Company to operate
cryptocurrency mining assets; the risks of an increase in the Company&rsquo;s electricity costs, cost of natural gas, changes in currency
exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and
the adverse impact on the Company&rsquo;s profitability; 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, 2021, filed on March 28, 2022. 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></FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-align: justify; text-indent: -0.5pt">&nbsp;</P>

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-indent: -0.55pt; background-color: #FEFEFE"><B>Investor
Relations:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: white"><B>LHA Investor
Relations<BR>
</B>David Barnard</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: white">+1 415-433-3777</P>

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: #FEFEFE"><B>US Media:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: #FEFEFE"><B>YAP Global</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt">Mia Grodsky, Account Executive</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> mia@yapglobal.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: #FEFEFE"><B>Qu&eacute;bec
Media:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5pt; text-indent: -0.5pt; background-color: #FEFEFE"><B>Ryan Affaires
publiques </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-indent: -0.55pt">Val&eacute;rie Pomerleau, Public Affairs
and Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> valerie@ryanap.com</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-indent: -0.55pt; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-indent: -0.55pt; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">4</P>

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

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

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