Bitfarms (TSX-V:BITF) on Thursday reported a third quarter 2025 GAAP loss of $0.08 per share, compared with a deficit of $0.05 per share a year earlier, as the company plans to transition from Bitcoin mining to becoming a North American energy and digital infrastructure company.
Analysts, on average, were expecting a loss of $0.02 per share.
Its revenue for the period decreased to $69.3 million from $77.8 million in the previous quarter, also falling short of the $84.7 million analyst consensus forecast.
During the quarter Bitfarms mined 520 Bitcoin, down from 718 in Q2.
The company also announced plans to convert its Washington site for high-performance computing and AI workloads, positioning itself for the next generation of artificial intelligence hardware.
Bitfarms expects to build the Washington site infrastructure to support Nvidia’s Vera Rubin GPUs, which will require almost twice the energy density as Nvidia’s current Blackwell GPUs.
Nvidia’s next-generation processors are expected to ship in the fourth quarter of 2026.
Nasdaq-listed shares of Bitfarms fell 14% to $2.72 in late-morning trading on Thursday.