Bitfarms Announces US$20 Million Loan Financing and Special General Meeting Clarification - Seite 2

“Despite challenging public market financing conditions, we have successfully funded Bitfarms’ expansion plans with minimal dilution to shareholders. Our strategy remains focused on delivering superior returns to investors through prudent capital deployment. Given our efforts to vertically integrate our business model, we have 100% control of the Sherbrooke expansion and full operational control following completion. We are confident that we can continue to increase Bitfarms’ hash power and market share in a timely manner and at significantly lower costs than our closest peers. The Loan Financing is a testament to the strength of our team, our strategic plans and our operational excellence.”

Bitfarms is committed to building innovative and efficient infrastructure to support the decentralized financial economy. With clean energy at a competitive price, innovative universities and electricity surplus, Québec has the potential to become a global hub for blockchain technology.

Special General Meeting

On Thursday March 28, 2019 a Special General Meeting will be held for shareholders to vote on the proposed Arrangement of Bitfarms Ltd. (Israel) and Bitfarms Ltd. (Canada) in support of the Company’s Canadian listing strategy. In response to shareholder inquiries, and in the event the Arrangement is approved by shareholders, the Company confirms that it will not proceed to close the Arrangement until conditional approval for listing of Bitfarms Ltd. (Canada) common shares on the Canadian TSX Venture Exchange is obtained.

Shareholders of record at the end of trading day on February 7, 2019 are eligible to vote in person or electronically through an electronic voting system. Details regarding the voting process as well as the proposed transaction can be found in the Company reports published on the Maya.

About Bitfarms Ltd. (formerly Bitfarms Technologies Ltd. and Blockchain Mining Ltd.)

Through its ownership of Bitfarms, the Company owns and operates blockchain farms that power the global decentralized financial economy. Bitfarms provides computing power to cryptocurrency networks such as Bitcoin, earning fees from each network for securing and processing transactions. Powered by clean and competitively priced hydroelectricity, Bitfarms operates 4 blockchain farms in Québec, Canada with 36MW of built-out infrastructure and approximately 220 Ph/s of installed hash-power. Bitfarms’ strong and experienced management team is comprised of veteran industrial-scale data centre operators and capital markets professionals, focused on building infrastructure for the future by developing and hosting the ecosystem growing around blockchain-based technologies.