Listing next Monday! Canadian mining company Bitfarms will start trading on Nasdaq on June 21

Canadian listed mining company Bitfarms announced today that it has obtained DTC qualification and its common stock is expected to be listed on the Nasdaq on Monday, June 21, with the trading code "BITF", which is the same as Bitfarms' listing code on the TSX exchange.

The company also stated that Bitfarms uses nearly 100% hydroelectric power and renewable energy and is currently the only publicly traded pure mining company audited by the Big Four auditing firms. The Nasdaq listing will help Bitfarms become the largest listed Bitcoin miner in North America.

Emiliano Grodzki, Founder and CEO of Bitfarm, said: “Listing on Nasdaq is a significant achievement for Bitfarms and a major milestone after years of growth for the company. When we founded the company four years ago, we firmly believed in the institutional adoption of Bitcoin and Bitcoin mining. This belief continues to guide us as we strive to build the largest Bitcoin mining operation in the world. When Bitfarms begins trading on Nasdaq, it will become the largest publicly traded Bitcoin miner in North America, using over 99% hydroelectric renewable electricity. We are proud to be a leader in the industry, setting the highest standards for ourselves and our mining operations. Having reached this milestone, we are even more excited about what’s next for the company.”

HC Wainwright & Co. served as Bitfarms’ advisor for its Nasdaq listing, and Katten Muchin Rosenman LLP represented the company as U.S. legal counsel in connection with its Nasdaq listing. Peterson McVicar LLP served as the company’s Canadian legal counsel.

Founded in 2017, Bitfarms is a Bitcoin mining company that operates a vertically integrated mining operation with on-site technical maintenance, proprietary data analytics, and company-owned electrical engineering and installation services to provide high operational performance and system load protection.

Bitfarms has a diversified production platform with five industrial-scale facilities in Quebec.

The company mined 598 bitcoins in the first quarter, with an average mining cost of $8,400 per bitcoin. Revenue in the first quarter was $28.4 million, up 209% year-over-year, with an average hash rate increase of about 39%. The average bitcoin price for the quarter was about $45,000.