Bitfarms (TSX:BITF) Construction In Progress : C$53.4 Mil (As of Dec. 2023)

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What is Bitfarms Construction In Progress?

Bitfarms's quarterly construction in progress declined from Jun. 2023 (C$43.5 Mil) to Sep. 2023 (C$29.0 Mil) but then increased from Sep. 2023 (C$29.0 Mil) to Dec. 2023 (C$53.4 Mil).

Bitfarms's annual construction in progress increased from Dec. 2021 (C$2.0 Mil) to Dec. 2022 (C$43.8 Mil) and increased from Dec. 2022 (C$43.8 Mil) to Dec. 2023 (C$53.4 Mil).

Bitfarms Construction In Progress Historical Data

The historical data trend for Bitfarms's Construction In Progress can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Bitfarms Construction In Progress Chart

Bitfarms Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Construction In Progress

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0.17

0.04

1.99

43.78

53.41

Bitfarms Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Construction In Progress	Get a 7-Day Free Trial															43.78	35.05	43.52	29.04	53.41

Bitfarms Construction In Progress Calculation

It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.

Bitfarms (TSX:BITF) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Bitfarms Ltd (TSX:BITF) » Definitions » Construction In Progress

Comparable Companies

Traded in Other Exchanges

BITF:USA 1B2:Germany 1B2:Germany

Address

18 King Street East, Suite 902, Toronto, ON, CAN, M5C 1C4

Website

https://www.bitfarms.com

Bitfarms Ltd is a publicly traded Bitcoin company. It develops, owns, and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The company's proprietary data analytics system delivers best-in-class operational performance and uptime. The group has around 10 farms, which are located in four countries: Canada, the United States, Paraguay, and Argentina. It is Powered by predominantly environmentally friendly hydroelectric and long-term power contracts, Bitfarms is committed to using sustainable, locally based, and often underutilized energy infrastructure.

Executives