Bitfarms to Stop Mining Bitcoins Due to Heavy Losses

By the end of 2027, the Canadian company Bitfarms will stop mining bitcoins due to significant losses.

The firm owns 12 data centers in North America with a capacity of 341 megawatt-hours. However, according to the financial report for the third quarter of 2025, the company is unable to turn a profit. From July to September, the organization mined only 520 BTC, which is 6.3% less than in the second quarter. The institution’s revenue amounted to $69 million, but due to high expenses, the company ended up $46 million in the red.

To start generating profit, Bitfarms’ management decided to shift the business from cryptocurrency mining to providing services related to high-performance computing, which is used, for example, by developers of AI-based software. These operations are planned to be processed using Nvidia’s GB300-series AI accelerator.

“We believe that repurposing just one data center located in Washington to provide high-performance GPU computing services will bring us more revenue than bitcoin mining,” said Bitfarms director Ben Gagnon.

The company’s employees will gradually wind down the mining of digital assets over the next two years and plan to completely stop mining by the end of 2027. Stock market participants reacted to this news without enthusiasm and began selling off Bitfarms securities, so over the past 24 hours they have fallen in price by 18%. And since October 15, when a bearish trend emerged, the company’s shares have crashed by 61%, apparently primarily due to the decline in BTC value.

See also: "Polymarket platform resumes operations in the US in closed beta mode"

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