Bitfarms (TSX:BITF) Inventory Turnover : 50.03 (As of Sep. 2024)

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What is Bitfarms Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Bitfarms's Cost of Goods Sold for the three months ended in Sep. 2024 was C$76.7 Mil. Bitfarms's Average Total Inventories for the quarter that ended in Sep. 2024 was C$1.5 Mil. Bitfarms's Inventory Turnover for the quarter that ended in Sep. 2024 was 50.03.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Bitfarms's Days Inventory for the three months ended in Sep. 2024 was 1.82.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Bitfarms's Inventory-to-Revenue for the quarter that ended in Sep. 2024 was 0.03.

Bitfarms Inventory Turnover Historical Data

The historical data trend for Bitfarms's Inventory Turnover 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 Inventory Turnover Chart

Bitfarms Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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160.18

206.96

162.95

238.93

258.12

Bitfarms Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Inventory Turnover	Get a 7-Day Free Trial															62.93	61.72	71.09	50.77	50.03

Bitfarms Inventory Turnover Calculation

Bitfarms's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	225.212	/ (	(0.799	+	0.946)	/	2 )
=	225.212	/	0.8725
=	258.12

Bitfarms's Inventory Turnover for the quarter that ended in Sep. 2024 is calculated as

	Inventory Turnover (Q: Sep. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Sep. 2024 )	/ (	(Total Inventories (Q: Jun. 2024 )	+	Total Inventories (Q: Sep. 2024 ))	/	count )
=	76.727	/ (	(1.475	+	1.592)	/	2 )
=	76.727	/	1.5335
=	50.03

Bitfarms (TSX:BITF) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Bitfarms's Days Inventory for the three months ended in Sep. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Sep. 2024 )	/	Cost of Goods Sold (Q: Sep. 2024 )	*	Days in Period
	=	1.5335	/	76.727	*	365 / 4
	=	1.82

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

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

Inventory-to-Revenue	=	Average Total Inventories (Q: Sep. 2024 )	/	Revenue (Q: Sep. 2024 )
	=	1.5335	/	60.758
	=	0.03

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

Bitfarms Inventory Turnover Related Terms

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Bitfarms Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Bitfarms Ltd (TSX:BITF) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

BITF:USA 1B2:Germany

Address

110 Yonge Street, Suite 1601, Toronto, ON, CAN, M5C 1T4

Website

https://bitfarms.com

Bitfarms Ltd engaged in the cryptocurrency Mining industry mainly consists of selling its computational power used for hashing calculations for cryptocurrency mining in multiple jurisdictions. Its geographic operations are currently located in Canada, the United States, Argentina, and Paraguay. It owns and operates server farms comprised of computers designed to validate transactions on the Bitcoin Blockchain.

Executives

Patricia Osorio	Senior Officer
Fanny Philip	Director
Edie Hofmeister	Director
Brian Howlett	Director
Philippe Fortier	Senior Officer
Inc. Riot Platforms	10% Security Holder
Damian Polla	Senior Officer
Guillaume Reeves	Senior Officer
Colin Yee	Deemed Insider - 6 Months before becoming Insider, Director or Senior Officer of 10% Security Holder
Nicolas Bonta	10 percent owner, Director
Lawrence Geoffrey Morphy	Director, Senior Officer
Andres Finkielsztain	Director
Jeffrey Lucas	Senior Officer
Paul Magrath	Senior Officer
Marc-andré Ammann	Senior Officer