Mr. Ben Gagnon reports

BITFARMS ANNOUNCES BOARD CHAIR TRANSITION IN ANTICIPATION OF U.S. REDOMICILIATION

Edie Hofmeister has been appointed as chair of the board of Bitfarms Ltd. This appointment supports Bitfarms' previously announced strategy of redomiciling to the United States. Ms. Hofmeister succeeds Brian Howlett, who has served as director since 2020 and chairman since 2024. Mr. Howlett will continue to serve as an independent director.

Ms. Hofmeister brings over two decades of extensive expertise in legal affairs, corporate governance and business strategy, developed over years in senior leadership roles. As an American business leader, she has guided multinational companies through public and private offerings, New York Stock Exchange and Nasdaq listings, intricate debt financings, joint ventures, complex litigation, and multibillion-dollar acquisitions. Drawing on her deep understanding of U.S. corporate and securities law, she has played a pivotal role in shaping governance practices aligned with American standards. From 2010 to 2019, she served as executive vice-president, corporate affairs, and general counsel for Tahoe Resources, where, as its first employee, she helped build the company from a start-up to a mid-capitalization precious metal producer with operations throughout the Americas. In this role, she helped lead capital raises and large infrastructure development projects. Ms. Hofmeister joined Bitfarms' board of directors in November, 2022, and has since served as chair of the governance and nominating committee, and the environmental and social responsibility committee.

"I am honoured to assume the role of chair of the board at such a defining moment for Bitfarms," said incoming chair, Ms. Hofmeister. "My experience building large-scale infrastructure and leading risk and governance functions has taught me the importance of strong foundations during periods of change. Redomiciling to the United States is expected to increase our access to U.S. capital pools, broaden our U.S. investor base and improve our eligibility for inclusion in certain stock indices. As the company advances its U.S. redomiciliation, my focus will be on maintaining strong governance foundations while supporting execution of Bitfarms' HPC/AI growth strategy. I look forward to working closely with Brian, Ben and the board as we navigate this transition."

Chief executive officer Ben Gagnon added: "We thank Brian for his leadership as chairman. He has been instrumental in shaping our direction and driving meaningful progress at Bitfarms. We will continue to draw on his experience and perspective as an independent director. This transition reflects our commitment to strong governance and strategic growth as we prepare for U.S. redomiciliation. Edie's experience as an executive and seasoned public board director makes her uniquely qualified to lead the board during this pivotal chapter."

About Bitfarms Ltd.

Bitfarms is a North American energy and digital infrastructure company that builds and operates vertically integrated, state-of-the-art data centres and energy infrastructure for high performance computing and bitcoin mining.

Bitfarms' 2.1-gigawatt North American energy portfolio, composed of energized, under-development and pipeline megawatts, is clustered in data centre hot spots with robust access to power and fibre infrastructure.

Bitfarms was founded in 2017 and is a proven leader in digital infrastructure with operations throughout the Americas. Bitfarms is headquartered in New York, N.Y., and Toronto, Ont., and traded on Nasdaq and the Toronto Stock Exchange.

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