Ms. Tracy Krumme reports

BITFARMS ANNOUNCES TORONTO STOCK EXCHANGE DEFERRAL OF CONSIDERATION OF SHAREHOLDER RIGHTS PLAN

Bitfarms Ltd. has been notified by the Toronto Stock Exchange that the TSX will defer its consideration of the acceptance of the company's shareholder rights plan, as announced on July 24, 2024, until: (i) such time as it is satisfied that the appropriate securities commission will not intervene pursuant to National Policy 62-202; and (ii) the ratification of the rights plan by the shareholders of the company by no later than Jan. 24, 2025.

A deferral of acceptance of the rights plan by the TSX does not affect the adoption or operation of the rights plan, which will remain operative and effective for a minimum of six months from the date of adoption on July 24, 2024, unless earlier terminated.

A copy of the rights plan is available under the company's profile on SEDAR+ or on the U.S. Securities and Exchange Commission's website.

About Bitfarms Ltd.

Founded in 2017, Bitfarms is a global bitcoin mining company that contributes its computational power to one or more mining pools from which it receives payment in bitcoin. Bitfarms develops, owns and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service and multiple on-site technical repair centres. The company's proprietary data analytics system delivers best-in-class operational performance and uptime.

Bitfarms currently has 12 operating bitcoin data centres and two under development situated in four countries: Canada, the United States, Paraguay and Argentina. Powered predominantly by environmentally friendly hydroelectric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

We seek Safe Harbor.