<SEC-DOCUMENT>0001213900-25-097957.txt : 20251010
<SEC-HEADER>0001213900-25-097957.hdr.sgml : 20251010
<ACCEPTANCE-DATETIME>20251010092637
ACCESSION NUMBER:		0001213900-25-097957
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20251010
FILED AS OF DATE:		20251010
DATE AS OF CHANGE:		20251010

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bitfarms Ltd
		CENTRAL INDEX KEY:			0001812477
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		ORGANIZATION NAME:           	09 Crypto Assets
		EIN:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40370
		FILM NUMBER:		251386483

	BUSINESS ADDRESS:	
		STREET 1:		110 YONGE STREET
		STREET 2:		SUITE 1601
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 1T4
		BUSINESS PHONE:		647-259-1790

	MAIL ADDRESS:	
		STREET 1:		110 YONGE STREET
		STREET 2:		SUITE 1601
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 1T4
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea0260904-6k_bitfarms.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">UNITED STATES</P>

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></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: bold 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">FORM 6-K</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>For the month of October 2025</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Commission File Number: 001-40370
</B></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: bold 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">BITFARMS LTD.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Translation of registrant&rsquo;s
name into English)</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>110 Yonge Street, Suite 1601, Toronto,
Ontario, Canada M5C 1T4</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-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.</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; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Form 20-F <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal">&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Form
40-F <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal">&#9746;</FONT>&nbsp;</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.95pt; text-align: center">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.95pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 10, 2025, Bitfarms Ltd. (&ldquo;<U>Bitfarms</U>&rdquo;
or the &ldquo;<U>Company</U>&rdquo;) entered into Amendment No. 1 to the Loan and Security Agreement (the &ldquo;<U>Amendment</U>&rdquo;)
with Macquarie Equipment Capital, Inc., a division of Macquarie Group&rsquo;s Commodities and Global Markets&rsquo; business (&ldquo;<U>Macquarie</U>&rdquo;)
and certain subsidiaries of the Company and lenders of the Company named therein. The Amendment modified the terms of the Company&rsquo;s
previously-announced private debt facility (the &ldquo;<U>Loan Agreement</U>&rdquo;) for up to $300 million with Macquarie to, among other
things, limit the borrowers and guarantors under the Loan Agreement to certain subsidiaries of the Company holding project-specific assets,
other than an unsecured guarantee of the Company and limited guarantees and collateral provided by certain subsidiaries of the Company
in connection with the minimum cash requirements described below (the &ldquo;<U>Facility</U>&rdquo;). Bitfarms anticipates using the Facility&rsquo;s
funds to finance the development of its data center campus in Panther Creek, Pennsylvania, subject to the achievement of certain milestones
and other conditions as set forth in the Facility.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Amendment, Bitfarms will draw
an additional $50 million from the Facility, subject to customary closing conditions, and will be able to draw on additional tranches
of funding under the Facility subject to certain conditions, including the consent of Macquarie.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Amendment further provides that, among other
things:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">The aggregate principal amount of $300 million in funding under the Facility is intended to fund the development
of the data center project at Panther Creek.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">The incremental $50 million tranche to be withdrawn from the Facility is to be drawn by a project-level
indirect subsidiary and is secured by certain assets of the guarantors.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Certain of the U.S. and all of the Canadian direct and indirect subsidiaries of the Company that had previously
guaranteed obligations of the Company under the Facility and pledged certain assets to secure those guarantees have been released from
their guarantees and pledges.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">In connection with entering into the Amendment, Macquarie will receive warrants for the purchase of $10
million in shares of Bitfarms at a strike price equal to a 25% premium, in each case, based on the volume weighted average of the trailing
5 trading days&rsquo; closing price (subject to a minimum strike price floor equal to the last closing price of Bitfarms&rsquo; shares
on the Nasdaq/TSX) and with a tenor of five years. The warrants and underlying shares are subject to customary registration rights for
the resale of the underlying shares.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">The Loan Agreement as modified by the Amendment includes various customary affirmative and negative covenants
, including restrictions on dispositions, dividends, the incurrence of debt and liens, material changes in the nature of its business,
related party transactions, and investments, in each case subject to certain customary exclusions and carveouts. In addition, Bitfarms
must maintain a minimum of $50 million balance in cash at all times while amounts under the Facility are outstanding and must deposit
additional amounts of cash if the average bitcoin price drops below certain thresholds as provided in the Loan Agreement (which funds
will be returned if the bitcoin price returns to the previous thresholds).</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.95pt; text-align: center"><B>DOCUMENTS INCLUDED AS PART OF THIS
FORM 6-K</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; text-align: justify; margin: 0pt 0">On October 10, 2025, the Registrant filed with the Canadian Securities
Regulatory Authorities on the System for Electronic Data Analysis and Retrieval + (SEDAR +) a press release, a copy of which is attached
hereto as Exhibit 99.1, which is incorporated herein by reference.</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">See the Exhibits listed below.</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; margin-left: 0in; text-indent: 0in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Exhibits</B></FONT></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; padding: 0.25pt 0.25pt 1.5pt; text-align: justify; width: 9%"><FONT STYLE="font-size: 10pt">Exhibit&nbsp;No.</FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 0.25pt; padding-right: 0.25pt; padding-left: 0.25pt; text-align: justify; width: 90%"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0.25pt; text-align: justify"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="ea026090401ex99-1_bitfarms.htm">Press release dated October 10, 2025</A></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48.95pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SIGNATURE</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; margin: 0pt 0; text-align: justify">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 0pt 8pt">&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/ Ben Gagnon</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>&nbsp;Ben Gagnon</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>&nbsp;Chief Executive Officer</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; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Date: October 10, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8pt"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea026090401ex99-1_bitfarms.htm
<DESCRIPTION>PRESS RELEASE DATED OCTOBER 10, 2025
<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">&nbsp;<IMG SRC="ex99-1_001.jpg" ALT=""></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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Bitfarms Converts Macquarie Debt Facility to
$300M Project Financing and Draws Additional $50M to Accelerate HPC/AI Development at Panther Creek Campus </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">-$300 million facility to fund Phase 1 of Panther
Creek data center development with energization expected by YE 2026-</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">-On track to break ground on Panther Creek data
center in Q4 2025-</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; text-align: center"><I>This news release constitutes
a &ldquo;designated news release&rdquo; for the purposes of the Company&rsquo;s second amended and restated prospectus supplement dated
December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Toronto, Ontario and New York, NY
(October 10, 2025)</B> - Bitfarms Ltd. (Nasdaq/TSX: BITF) (the &ldquo;Company&rdquo;), a North American energy and digital
infrastructure company,  has converted its previously announced private debt facility for up to&nbsp;$300
million&nbsp;from&nbsp;Macquarie Group&rsquo;s Commodities and Global Markets business (&ldquo;Macquarie&rdquo;), to an up to $300
million project-specific financing facility for the development of its data center campus in Panther Creek, Pennsylvania. Bitfarms
will draw an additional $50 million from the converted facility, subject to customary closing conditions, for a total of $100
million drawn through closing, in order to accelerate long-lead time equipment purchases and advance HPC/AI development at its data
center campus in Panther Creek, Pennsylvania.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CEO Ben Gagnon stated &ldquo;I am excited to announce
the conversion of our debt facility to the project level, the acceleration of equipment orders, and development of our Panther Creek HPC/AI
campus. We intend to use this drawdown of an additional $50 million to fund civil works and substation construction at Panther Creek,
which are on track to begin in Q4 2025. Converting the facility to the project level enables us to draw down on the full facility, accelerating
our construction timelines, providing increased flexibility, and positioning us to capitalize on the substantial demand for HPC/AI infrastructure
in Pennsylvania. We are thrilled to reach this important milestone with Macquarie, and I would like to thank them for being a supportive
financing partner throughout the initial phases of HPC/AI development at our Panther Creek campus.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Joshua Stevens, Managing Director, Macquarie Group&rsquo;s
Commodities and Global Markets business, stated, &ldquo;We are proud to expand our partnership with Bitfarms to support the development
of its marquee 350 MW HPC/AI campus in eastern Pennsylvania. With robust energy, fiber infrastructure and continued demand for data centers,
Pennsylvania is quickly emerging as a new AI infrastructure hub. Bitfarms is well-positioned to deliver state-of-the-art digital infrastructure
for prospective clients in what is emerging as the premier HPC/AI data center hub in the US.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Northland Capital Markets acted as sole placement
agent to the Company. Skadden, Arps, Slate, Meagher &amp; Flom LLP acted as legal counsel to the Company. Latham &amp; Watkins LLP acted
as legal counsel to Macquarie. For further information, please refer to Bitfarms&rsquo; 6-K filed this morning.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bitfarms is a North American energy and digital
infrastructure company that builds and operates vertically integrated, state-of-the-art data centers and energy infrastructure for high-performance
computing and Bitcoin mining.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With a focus on U.S. growth, Bitfarms&rsquo; 1.3
GW energy pipeline is more than 80% U.S.-based and clustered in data center hotspots with robust access to power and fiber infrastructure.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bitfarms was founded in 2017 and is a proven leader
in digital infrastructure with operations throughout the Americas. Bitfarms is headquartered in New York, NY and Toronto, ON and traded
on the Nasdaq and Toronto Stock Exchange.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To learn more about Bitfarms&rsquo; events, developments,
and online communities:</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">www.bitfarms.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">https://www.facebook.com/bitfarms/</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><U STYLE="text-decoration: none"><BR>
http://x.com/Bitfarms_io<BR>
</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">https://www.instagram.com/bitfarms/</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><U><BR>
</U></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">https://www.linkedin.com/company/bitfarms/</FONT></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"><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 0; text-align: justify"><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 statements and information in this release regarding the benefits of converting the Macquarie debt facility
to the project level and the acceleration of development of the Panther Creek HPC/AI campus, the objectives and timelines for such development,
the prospectivity of Pennsylvania as a new AI infrastructure hub and the ability of the Company to successfully expand the infrastructure
and operate in this sector, the growth opportunities and prospects for the Company, and other statements regarding future growth, plans
and objectives of the Company are forward-looking information.</I></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I></I></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"><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;prospects&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. This forward-looking information
is based on assumptions and estimates of management of Bitfarms 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 Bitfarms to be materially different from any future
results, performance or achievements expressed or implied by such forward-looking information. Such factors, risks and uncertainties include,
among others: an inability to apply the Company&rsquo;s data centers to HPC/AI opportunities on a profitable basis; a failure to secure
long-term contracts associated with HPC/AI customers on terms which are economic or at all; the construction and operation of new facilities
may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all;
an inability to satisfy the Panther Creek location related milestones which are conditions to loan drawdowns under the Macquarie Group
financing facility; an inability to deploy the proceeds of the Macquarie Group financing facility to generate positive returns at the
Panther Creek location; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing
facilities may not materialize as currently anticipated, or at all; new miners may not perform up to expectations; revenue may not increase
as currently anticipated, or at all; the ongoing ability to successfully mine digital currency is not assured; failure of the equipment
upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all;
expansion may not materialize as currently anticipated, or at all; the power purchase agreements and economics thereof may not be as advantageous
as expected; potential environmental cost and regulatory penalties due to the operation of the former Stronghold plants which entail environmental
risk and certain additional risk factors particular to the former business and operations of Stronghold including, land reclamation requirements
may be burdensome and expensive, changes in tax credits related to coal refuse power generation could have a material adverse effect on
the business, financial condition, results of operations and future development efforts, competition in power markets may have a material
adverse effect on the results of operations, cash flows and the market value of the assets, the business is subject to substantial energy
regulation and may be adversely affected by legislative or regulatory changes, as well as liability under, or any future inability to
comply with, existing or future energy regulations or requirements, the operations are subject to a number of risks arising out of the
threat of climate change, and environmental laws, energy transitions policies and initiatives and regulations relating to emissions and
coal residue management, which could result in increased operating and capital costs and reduce the extent of business activities, operation
of power generation facilities involves significant risks and hazards customary to the power industry that could have a material adverse
effect on our revenues and results of operations, and there may not have adequate insurance to cover these risks and hazards, employees,
contractors, customers and the general public may be exposed to a risk of injury due to the nature of the operations, limited experience
with carbon capture programs and initiatives and dependence on third-parties, including consultants, contractors and suppliers to develop
and advance carbon capture programs and initiatives, and failure to properly manage these relationships, or the failure of these consultants,
contractors and suppliers to perform as expected, could have a material adverse effect on the business, prospects or operations; the digital
currency market; the ability to successfully mine digital currency; 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; the inability
to maintain reliable and economical sources of power to operate cryptocurrency mining assets; the risks of an increase in 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 Bitfarms operates and the potential adverse impact on profitability; future capital needs and the ability to complete
current and future financings, including Bitfarms&rsquo; ability to utilize an at-the-market offering program ( &ldquo;ATM Program&rdquo;)
and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting
from an ATM Program and from other equity issuances; the risks of debt leverage and the ability to service and eventually repay the Macquarie
Group financing facility; volatile securities markets impacting security pricing unrelated to operating performance; the risk that a material
weakness in internal control over financial reporting could result in a misstatement of financial position that may lead to a material
misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; risks related
to the Company ceasing to qualify as an &ldquo;emerging growth company&rdquo;; risks related to unsolicited investor interest, takeover
proposals, shareholder activism or proxy contests relating to the election of directors; risks relating to lawsuits and other legal proceedings
and challenges; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical
prices; 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 Bitfarms&rsquo; filings on www.sedarplus.ca
(which are also available on the website of the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) at www.sec.gov), including
the Company&rsquo;s annual information form for the year ended December 31, 2024, management&rsquo;s discussion &amp; analysis for the year-ended
December 31, 2024 and the management&rsquo;s discussion and analysis for the six months ended June 30, 2025. Although Bitfarms 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, including factors that are currently unknown
to or deemed immaterial by Bitfarms. 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. Bitfarms does not undertake any obligation to revise or update any forward-looking information other than
as required by law. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investor Relations Contact:</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0in; text-indent: 0in; text-align: justify"><U STYLE="text-decoration: none">lyonker@bitfarms.com</U></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-indent: -0.5pt"><B>Media Contact:</B></P>

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

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

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

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

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

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