Bitfarms reported a 72% increase in revenue to $229 million, driven by expanded hashrate, despite facing significant financial challenges in the Bitcoin mining sector. The company's net losses widened to approximately $209 million, primarily due to accounting pressures such as $98 million in depreciation and $28 million in impairments. The drop in hashprice, now between $30–$35, has compressed mining margins, limiting cash generation. In response to these challenges, Bitfarms is pivoting towards high-performance computing (HPC) and AI infrastructure to secure more stable revenue streams. The company is developing a 2.2 GW pipeline, with 341 MW already active, targeting high-demand data markets. This strategic shift aims to reduce reliance on Bitcoin mining, positioning Bitfarms for infrastructure-driven growth as HPC revenue is projected to constitute 70% of miner income by 2026.