Q1 2021 INVESTOR CALL PRESENTATION
Q1 2021
Financial Highlights
Revenue(1)
US $ (M)
$30
$25
$20
읆 빎 읇 넚 읎었다.
$10
100%
Gross
Mining
Margin (3)
80%
60%
40%
9.2
Q1 2020
47%
20%
0%
90
Q1 2020
28.4
Q1 2021
EBITDA (2)
Adjusted
EBITDA (4)
80%
Q1 2021
US $ (M)
US $ (M)
$3.0
30%
20%
$2.0
20%
$1.0
1.8
10%
$-
0%
(11%)
$-1.0
-10%
(3.0)
$-2.0
-20%
$-3.0
-30%
$-4.0
-40%
Q1 2020
Q1 2021
$20
$15
80%
69%
60%
$10
$19.7
40%
- 30%
$5
20%
is
2.8
Q1 2020
Q1 2021
(1) Revenue is recognized when cryptocurrency is received in exchange for its mining activities. Unsold cryptocurrency is accounted as an intangible asset under the revaluation model, initially at fair value upon receipt,
with subsequent revaluation losses being recorded through profit or loss. Revaluation gains are recorded through other comprehensive income, or profit or loss, to the extent that they reverse a prior revaluation loss.
Net loss for Q1 2021 was $7.6M versus a net loss of $2.4M in Q1 2020.
(2) EBITDA is calculated as net income before interest expense, income tax expense, and depreciation and amortization. EBITDA is a non-IFRS performance measure. See slide 3.
(3) Gross mining margin is calculated as mining revenue less mining energy and infrastructure costs for Backbone standalone, divided by mining revenue. Gross mining margin is a non-IFRS performance measure. See
slide 3.
(4) Adjusted EBITDA defined as EBITDA adjusted to exclude: (i) share-based compensation; (ii) non-cash finance expenses; (iii) asset impairment charges; and (iv) other non-cash expenses. Adjusted EBITDA is a non-IFRS
performance measure. See slide 3.
0%
Bitfarms
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