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This news release constitutes a “designated news release” for the purposes of the Company’s second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.
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TORONTO, Ontario, July 01, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (Nasdaq/TSX: BITF) (the “Company”), a global vertically integrated Bitcoin data center company, today announces the results of its annual general and special meeting of shareholders (the “Meeting”), held virtually on June 30, 2025. A total of 224,085,154 common shares, representing 43.9% of the issued and outstanding common shares (“Common Shares”) of the Company, were represented at the Meeting in person or by proxy. All items of business set forth in the Management Information Circular dated May 23, 2025 (the “Circular”) were approved by shareholders at the Meeting.
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Based on the proxies received and the votes cast at the Meeting, six directors (the “Directors”) were elected for the ensuing year. The following is a tabulation of the votes submitted:
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| Nominee | Votes For | Votes Withheld* |
| Brian Howlett | 151,857,664 | 6,458,730 |
| Andrew J. Chang | 151,870,218 | 6,446,175 |
| Amy Freedman | 151,872,656 | 6,443,738 |
| Ben Gagnon | 151,064,598 | 7,251,797 |
| Edie Hofmeister | 151,042,254 | 7,274,141 |
| Fanny Philip | 149,617,634 | 8,698,761 |
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*Proxies representing a total of: (i) 85,768,759 Common Shares were not voted in respect of the elections of Benjamin Gagnon, Edith Hofmeister, and Fanny Philip as director; (ii) 85,768,760 Common Shares were not voted in respect of the elections of Brian Howlett and Amy Freedman as director; and (iii) 85,768,761 Common Shares were not voted in respect of the elections of Andrew J. Chang as director.
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Shareholders also voted in favor of reappointing PricewaterhouseCoopers LLP as independent auditors of the Company for the ensuing year and authorized the Directors to fix their remuneration, with votes “For” totaling 236,832,671 Common Shares and votes “Withheld” totaling 7,252,479 Common Shares.
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With votes “For” totaling 131,083,589 Common Shares and 27,232,799 “Against”, shareholders voted in favor of an ordinary resolution approving the Company’s new omnibus incentive plan and the unallocated entitlements thereunder for a period of three (3) years, as more particularly described in the Circular.
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With votes “For” totaling 202,494,926 common shares and 41,590,225 “Against”, shareholders voted in favor of a special resolution to approve a future consolidation of the Common Shares on the basis of one (1) post-consolidation Common Share for up to ten (10) pre-consolidation Common Shares, if, and at such time following the date of the Meeting up to and including June 30, 2027, as may be determined by the board of directors of the Company in its sole discretion, as more particularly described in the Circular.
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About Bitfarms Ltd.
Founded in 2017, Bitfarms is a North American energy and compute infrastructure company that develops, owns, and operates vertically integrated data centers. Bitfarms currently operates 15 data centers situated in four countries, which currently mine Bitcoin: the United States, Canada, Argentina and Paraguay.
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