Bitfarms faces class action lawsuit

Levi & Korsinsky, LLP has initiated a class action securities lawsuit against Bitfarms, a publicly traded company. The lawsuit alleges that Bitfarms made false and misleading statements to investors between March 21, 2023, and December 9, 2024. Specifically, the complaint claims that Bitfarms maintained deficient internal controls over financial reporting, incorrectly categorized proceeds from digital asset sales as operating activities instead of investing activities, and overstated its ability to remediate material weaknesses related to the classification of 2021 Warrants. These alleged errors caused Bitfarms to misstate various items in its financial statements, which may need to be restated. Investors who suffered losses during this period have until July 8, 2025, to request to be appointed as lead plaintiff.