Nasdaq Approves Bitfarms Application to List

TORONTO, Ontario and BROSSARD, Québec , May 07, 2021 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (“Bitfarms”, or the “Company”) (TSXV:BITF // OTC:BFARF) today announces Bitfarms’ application to list its common stock on the Nasdaq Global Market was approved by The Nasdaq Stock Market (“Nasdaq”) under the symbol “BITF”.

Bitfarms will also retain its listing on the TSX Venture Exchange under the symbol “BITF”. The ticker used for Bitfarms’ securities traded over-the-counter (OTC) under the current symbol “BFARF” will seamlessly transfer to the new ticker symbol “BITF” on the first day of trading on The Nasdaq Stock Market.

Furthermore, as of today, Bitfarms is the first publicly traded Bitcoin miner to announce it will be trading on The Nasdaq Global Market tier. This tier is reserved for companies who fulfill financial liquidity and requirements above and beyond what it takes to list on The Nasdaq Capital Market, the lower tier upon which other Bitcoin miners trade. This represents a powerful validation of our global focus that has been at the core of Bitfarms since its founding in 2017.

Emiliano Grodzki, Bitfarms’ Chief Executive Officer, said, "The approval for listing on The Nasdaq Global Market is an incredible achievement for Bitfarms and is the fruition of multiple years of work and dedication. Over the last four years we have managed to build and operate one of the largest Bitcoin mining operations worldwide. It is fitting that we will be listing on one of the most prestigious exchanges in the world and significantly expand the market reach of our Company. We are very proud to have reached this important milestone for the Company and our shareholders. I would like to thank the team at Bitfarms, and all our advisers and professionals whose tireless efforts made this possible.”

The last remaining requirement prior to listing and trading on the Nasdaq is to confirm Bitfarms’ common shares are eligible for electronic clearing and settlement through the Depository Trust Company (DTC). The process to confirm DTC eligibility is moving forward expeditiously. As we learn more about the timing for the approval, we intend to provide a further update to the market. When approval has been obtained, we will announce the first date “BITF” will begin trading on Nasdaq.