Bitfarms Ltd. Cost of Revenue

Cost of Revenue of BITF for past 10 years: annual, quarterly and twelve month trailing (TTM) including Cost of Revenue growth rates and interactive chart. Cost of revenue refers to the direct costs attributable to the production of the goods or supply of services by an entity. It is also commonly known as the “cost of goods sold (COGS)”. Cost of sales measures the cost of goods produced or services provided in a period by an entity. It includes the cost of the direct materials used in producing the goods, direct labor costs used to produce the good, along with any other direct costs associated with the production of goods. In case of services cost of sales includes the labor cost or salaries of the employees and other directly attributable costs. Cost of sales does not include indirect expenses such as distribution costs and marketing costs. It appears on the income statement and is deducted from the sales revenue for the calculation of gross profit (or gross margin).


Highlights and Quick Summary

  • Cost of Revenue for the quarter ending June 29, 2021 was $13.3 Million (a 46.18% increase compared to previous quarter)
  • Year-over-year quarterly Cost of Revenue increased by 70.33%
  • Annual Cost of Revenue for 2020 was $31.8 Million (a 51.7% increase from previous year)
  • Annual Cost of Revenue for 2019 was $21 Million (a -8.49% decrease from previous year)
  • Twelve month Cost of Revenue ending June 29, 2021 was $38.9 Million (a 17.64% increase compared to previous quarter)
  • Twelve month trailing Cost of Revenue increased by 25.55% year-over-year
Trailing Cost of Revenue for the last four month:
29 Jun '21 30 Mar '21 30 Dec '20 29 Sep '20
$38.9 Million $33 Million $31.8 Million $31 Million
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Historical Cost of Revenue of Bitfarms Ltd.

Most recent Cost of Revenueof BITF including historical data for past 10 years.

Interactive Chart of Cost of Revenue of Bitfarms Ltd.

Bitfarms Ltd. Cost of Revenue for the past 10 Years (both Annual and Quarterly)

(All values are in $ million)

Year Q1 Q2 Q3 Q4 Fiscal Year
2021 $13.33 $9.12
2020 $8.58 $7.83 $7.51 $7.92 $31.83
2019 $7.7 $5.28 $4.59 $3.42 $20.98
2018 $22.93

Business Profile of Bitfarms Ltd.

Sector: Financial Services
Industry: Capital Markets
Bitfarms Ltd., a blockchain infrastructure company, mines for cryptocurrency coins and tokens in North America. The company owns and operates server farms comprising computers that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. It also provides electrician services to commercial and residential customers in Quebec, Canada. It also provides hosting of third-party mining hardware. The company was founded in 2017 and is headquartered in Toronto, Canada.