Summary by Moomoo AI
Bitfarms Ltd., a foreign private issuer, reported its interim condensed consolidated financial statements for the three and nine months ended September 30, 2024. The report, filed with the U.S. Securities and Exchange Commission, includes financial statements, management's discussion and analysis, and certifications by CEO Ben Gagnon. The financial statements reveal a net loss of $36,649 for the quarter and $69,228 for the nine months, with comprehensive losses of $35,928 and $56,529 respectively. The company's total assets increased to $586,625 from $378,725 the previous year, while total liabilities stood at $74,601, down from $83,963. Shareholders' equity rose significantly to $512,024 from $294,762. The report also details the company's property, plant, and equipment, digital assets, and financial instruments, among other items. Bitfarms' operations span across Canada, the United States, Argentina, and Paraguay, with the majority of its revenue generated from cryptocurrency mining.
