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Vertically Integrated Global Bitcoin Mining Company Presentation

BITCOIN PRODUCTION COST $9,900 avg. direct cost of production of BTC in Q2 2022 14% increase from $8,700 in Q1 2022 3 percentage point improvement in op. efficiency offset by 12 percentage points from the increase in average network difficulty, and 5 percentage points attributable to an accrual for potential Canadian tax legislation affecting VAT rates Notes: All figures is US$ $9,000 Direct Cost of Production per BTC $9.900 $8.700 $8.000 $6.900 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Bitfarms 12

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