Bitfarms Ltd. Investors: Please contact the Portnoy Law Firm to recover your losses. July 8, 2025 Deadline to file Lead Plaintiff Motion.

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, July 07, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Bitfarms Ltd. ("Bitfarms" or the "Company") (NASDAQ: BITF) investors of a class action representing investors that bought securities between March 21, 2023 and December 9, 2024, inclusive (the "Class Period"). Bitfarms investors have until July 8, 2025 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

CASE ALLEGATIONS:
Bitfarms Ltd., which operates integrated bitcoin data centers, began raising capital in 2021 through various means, including the issuance of warrants (referred to as the “2021 Warrants”), according to the complaint.

The Bitfarms class action lawsuit alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose the following:

(i) Bitfarms had inadequate internal controls over financial reporting;

(ii) as a result, the company misclassified proceeds from digital asset sales as cash flows from operating activities instead of from investing activities;

(iii) Bitfarms overstated both the extent to which it had addressed, and its ability to correct, a material weakness in internal controls specifically related to the classification of the 2021 Warrants;

(iv) these misclassifications led to misstatements in multiple previously issued financial statements; and

(v) consequently, those financial statements were inaccurate and likely required restatement.

Further, the lawsuit alleges that on December 9, 2024, Bitfarms issued a press release disclosing that its consolidated financial statements for fiscal years 2022 and 2023 contained a material error related to the classification of digital asset sale proceeds and would be restated. Specifically, Bitfarms acknowledged that it had incorrectly reported such proceeds as operating cash flow, when they should have been categorized as investing cash flow, as determined during an SEC review. The company also announced it would restate its financials to correct an accounting error regarding the redemption of warrants in 2023.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

Attorney Advertising

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.