Levi & Korsinsky Files Class Action Lawsuit Against Bitfarms Ltd.
Levi & Korsinsky, LLP is investigating potential claims on behalf of investors in Bitfarms Ltd. (NASDAQ: BITF) who may be eligible for compensation following the filing of a class action lawsuit alleging securities fraud.
The case seeks to recover losses sustained between March 21, 2023, and December 9, 2024, and centers on claims that Bitfarms misled shareholders about its financial controls and reporting practices, potentially inflating financial results and misrepresenting the company’s true condition.
If you suffered losses during this period, even if you still hold your shares, you have until July 8, 2025 to take legal action.
Submit your claim here
Contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com
Call (212) 363-7500
Key Allegations
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Bitfarms allegedly misstated cash flow from digital asset sales
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The company overstated efforts to fix known accounting issues
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Financial statements may need restating due to these errors
These issues may have caused the stock to trade at artificially high prices, leading to investor losses.
Bitfarms Ltd. is a Canadian-based Bitcoin mining company founded in 2017. It operates 11 mining farms across Canada, the U.S., Paraguay, and Argentina, focusing on low-cost, sustainable energy sources.
The company is vertically integrated, handling everything from electrical engineering to equipment maintenance and performance analytics in-house.
Bitfarms is led by CEO Benjamin Gagnon and CFO Jeffrey Lucas and employs around 170 people.
Headquartered in Toronto, Ontario, Bitfarms trades publicly on the NASDAQ under the ticker BITF.
Levi & Korsinsky LLP is a recognized leader in securities litigation, with a track record of recovering hundreds of millions of dollars for shareholders over the past two decades. With a dedicated team of over 70 professionals, the firm specializes in complex securities cases and has been featured in ISS Securities Class Action Services' Top 50 Report for seven consecutive years.
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