Bitfarms reported a $284.5 million net loss for 2025, driven by falling Bitcoin prices and rising operational costs. Despite revenue jumping 72% year-over-year to $229 million, high expenses and a $50.5 million digital asset loss weighed heavily on its bottom line.

Still, the market reacted positively, with shares rising 6.6%. Investors appear to be betting on Bitfarms’ long-term shift away from struggling mining margins toward more profitable sectors like AI and infrastructure.