Generating Cash From Mining Operations
SAFE HARBOR STATEMENT
Trading in the securities of the Company should be considered highly speculative. No stock exchange,
securities commission, or other regulatory authority has approved or disapproved the information
contained herein. Neither the TSX Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Exchange), Nasdaq or any other securities exchange or regulatory
authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This presentation contains certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking information") that are based on expectations, estimates and
projections as at the date of this presentation and are covered by safe harbors under Canadian and
U.S. securities laws. The information in this presentation about future plans and objectives of the
Company is forward-looking information. Other forward-looking information includes, but is not
limited to, estimates and forecasts for 2022 and future growth, hash rate, installed hash rate,
installed megawatts, growth milestones and expansion plans (including computational goals) and
other information concerning: the intentions, plans and future actions of the Company, as well as
Bitfarms' ability to successfully mine digital currency, revenue increasing as currently anticipated, the
ability to profitably liquidate current and future digital currency inventory, volatility of network
difficulty and digital currency prices and the resulting significant negative impact on the Company's
operations, the construction and operation of expanded blockchain infrastructure as currently
planned, and the regulatory environment of cryptocurrency in the applicable jurisdictions.
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions, future events, or performance (often but not always using
phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not
anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or
variations of such words and phrases or stating that certain actions, events or results "may" or
"could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical
fact and may be forward-looking information and are intended to identify forward-looking
information.
This forward-looking information is based on reasonable assumptions and estimates of management
of the Company at the time it was made, and involves known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of the Company to
be materially different from any future results, performance or achievements expressed or implied
by such forward-looking information. Such factors include, among others, risks relating to: the global
economic climate; dilution; the Company's limited operating history; future capital needs and
uncertainty of additional financing; the competitive nature of the industry; currency exchange risks;
the need for the Company to manage its planned growth and expansion; the effects of product
development and need for continued technology change; protection of proprietary rights; the effect
of government regulation and compliance on the Company and the industry; network security risks;
the ability of the Company to maintain properly working systems; reliance on key personnel; global
economic and financial market deterioration impeding access to capital or increasing the cost of
capital; and volatile securities markets impacting security pricing unrelated to operating
performance. In addition, particular factors that could impact future results of the business of
Bitfarms include, but are not limited to: the construction and operation of blockchain infrastructure
may not occur as currently planned, or at all; expansion may not materialize as currently anticipated,
or at all; the digital currency market; the ability to successfully mine digital currency; revenue may
not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the
current digital currency inventory, or at all; a decline in digital currency prices may have a significant
negative impact on operations; an increase in network difficulty may have a significant negative
impact on operations; the volatility of digital currency prices; cybersecurity attacks such as from
malicious actors seeking to exploit vulnerabilities in the computer network operated by Bitfarms or
who gain unauthorized access to Bitfarms' digital wallets and custodial accounts; an increase in the
cost of electricity may have a significant negative impact on operations; planned or unplanned
electrical disruptions may have a significant negative impact on operations; the anticipated growth
and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable
jurisdictions, the ability to complete current and future financings, any regulations or laws that will
prevent Bitfarms from operating its business; historical prices of digital currencies and the ability to
mine digital currencies that will be consistent with historical prices; an inability to predict and
counteract the effects of COVID-19 on the business of the Company, including but not limited to the
effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour
and international travel and supply chains; and, the adoption or expansion of any regulation or law
that will prevent Bitfarms from operating its business, or make it more costly to do so. For further
information concerning these and other risks and uncertainties, refer to the Company's filings
on www.SEDAR.com including the annual information form for the year ended December 31, 2021,
filed on March 28, 2022. The Company has also assumed that no significant events occur outside of
Bitfarms' normal course of business. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from those expressed in forward-looking
statements, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be accurate as actual results
and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. The Company undertakes
no obligation to revise or update any forward-looking information other than as required by law.
Bitfarms™
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