Bitfarms (STU:1B2) COGS-to-Revenue : 1.21 (As of Mar. 2024)

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What is Bitfarms COGS-to-Revenue?

Bitfarms's Cost of Goods Sold for the three months ended in Mar. 2024 was €56.1 Mil. Its Revenue for the three months ended in Mar. 2024 was €46.3 Mil.

Bitfarms's COGS to Revenue for the three months ended in Mar. 2024 was 1.21.

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin. Bitfarms's Gross Margin % for the three months ended in Mar. 2024 was -21.23%.

Bitfarms COGS-to-Revenue Historical Data

The historical data trend for Bitfarms's COGS-to-Revenue 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 COGS-to-Revenue Chart

Bitfarms Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

COGS-to-Revenue

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0.65

0.92

0.34

0.93

1.15

Bitfarms Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
COGS-to-Revenue	Get a 7-Day Free Trial															1.28	1.17	1.26	0.96	1.21

Bitfarms COGS-to-Revenue Calculation

Bitfarms's COGS to Revenue for the fiscal year that ended in Dec. 2023 is calculated as

COGS to Revenue	=	Cost of Goods Sold	/	Revenue
	=	153.935	/	134.218
	=	1.15

Bitfarms's COGS to Revenue for the quarter that ended in Mar. 2024 is calculated as

COGS to Revenue	=	Cost of Goods Sold	/	Revenue
	=	56.119	/	46.292
	=	1.21

Bitfarms (STU:1B2) COGS-to-Revenue Explanation

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin.

Bitfarms's Gross Margin % for the three months ended in Mar. 2024 is calculated as:

Gross Margin %	=	1	-	COGS to Revenue
	=	1	-	Cost of Goods Sold / Revenue
	=	1	-	56.119 / 46.292
	=	-21.23 %

A company that has a moat can usually maintain or even expand their Gross Margin. A company can increase its Gross Margin in two ways. It can increase the prices of the goods it sells and keeps its Cost of Goods Sold unchanged. Or it can keep the sales price unchanged and squeeze its suppliers to reduce the Cost of Goods Sold. Warren Buffett believes businesses with the power to raise prices have moats.

Bitfarms COGS-to-Revenue Related Terms

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Bitfarms (STU:1B2) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Bitfarms Ltd (STU:1B2) » Definitions » COGS-to-Revenue

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BITF:USA BITF:Canada

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.

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