Bitfarms Q3 2025 Revenue Falls 16.7% Short of Forecasts, Disappointing Investors
- How Did Bitfarms Perform Financially in Q3 2025?
- Why Are Analysts So Bearish on Bitfarms?
- What’s Next for Bitfarms?
- Could AI Partnerships Save Bitfarms?
- FAQ: Bitfarms’ Q3 Earnings Fallout
Bitfarms' Q3 2025 earnings report delivered a double whammy: revenue missed Wall Street expectations by 16.7%, while the company's net loss per share matched Zacks' gloomy forecasts. Though year-over-year losses narrowed, this marks yet another quarter where Bitfarms failed to impress. With only one earnings beat in the last four quarters and a Zacks Rank #4 (Sell) hanging over its head, the bitcoin miner faces tough questions about its strategy. Meanwhile, competitors like Cipher and Terawulf are gaining traction in AI infrastructure, leaving investors wondering if Bitfarms can pivot fast enough.
How Did Bitfarms Perform Financially in Q3 2025?
Bitfarms reported a net loss of $0.02 per share, exactly as Zacks predicted but double the $0.01 loss analysts had hoped for three months prior. Revenue did grow YoY from $44.85 million in Q3 2024 to $69.25 million this quarter—a 54.4% jump—but still fell short of consensus estimates. This marks the second revenue miss in the last four quarters. CEO Geoff Morphy tried to spin the Washington facility’s GPU-as-a-Service potential as a bright spot, but with that site representing less than 1% of their portfolio, it’s hardly a game-changer. (Source: TradingView)
Why Are Analysts So Bearish on Bitfarms?
The Zacks Rank #4 (Sell) tells the story: downward earnings revisions have become a habit. Over the past 30 days, not a single analyst raised their outlook. Compare that to sector peer MindWalk Holdings, whose stable EPS estimates suggest confidence—Bitfarms looks like the problem child of the tech services sector, which itself ranks in the top 27% of Zacks’ 250+ tracked industries. As one BTCC analyst put it: "When your stock’s 112.8% year-to-date surge hinges more on crypto hype than fundamentals, reality eventually bites."
What’s Next for Bitfarms?
Wall Street now expects a $0.01 per share loss next quarter on $86.81 million revenue, with full-year projections at a $0.15 loss and $314.54 million revenue. But here’s the kicker—those numbers were modeled pre-earnings and will likely worsen. The real concern? Competitors are locking down billion-dollar AI data center deals (looking at you, Terawulf and SoftBank), while Bitfarms seems stuck playing catch-up. Their 2025 roadmap better include more than just Bitcoin mining, or they risk becoming irrelevant. This article does not constitute investment advice.
Could AI Partnerships Save Bitfarms?
CEO Ben Gagnon hinted at GPU-as-a-Service ambitions during the earnings call, but let’s be real—Cipher and Terawulf are miles ahead with actual contracts and heavyweight backers. Bitfarms’ Washington facility WOULD need to scale 100x to move the needle. Until we see concrete partnerships or tech pivots, this feels like wishful thinking. Remember: in crypto, "coming soon" often means "never happening."
FAQ: Bitfarms’ Q3 Earnings Fallout
How much did Bitfarms’ revenue miss estimates by in Q3 2025?
Revenue came in at $69.25M vs. expectations of ~$83M—a 16.7% shortfall.
What is Bitfarms’ Zacks Rank after earnings?
Rank #4 (Sell), reflecting persistent downward earnings revisions.
How does Bitfarms’ stock performance compare to the S&P 500?
Up 112.8% YTD vs. S&P’s 16.5%, but post-earnings reaction suggests this gap may narrow.
