Is Bitfarms Ltd (BITF) Halal?
Shariah Screening — 5 Standards
Based on financial data from December 2024
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | Excluded — Capital Markets | ✗ NOT HALAL | |||
| DJIM | Excluded — Capital Markets | ✗ NOT HALAL | |||
| MSCI | Excluded — Capital Markets | ✗ NOT HALAL | |||
| S&P | Excluded — Capital Markets | ✗ NOT HALAL | |||
| FTSE | Excluded — Capital Markets | ✗ NOT HALAL | |||
Financial Highlights
Profitability
| Gross Margin | 4.6% | |
| Operating Margin | -28.8% | |
| Net Margin | -46.4% | |
| Return on Equity (ROE) | -12.5% | |
| Return on Assets (ROA) | -8.2% |
Cash Flow & Balance Sheet
| Operating Cash Flow | -$141M |
| Free Cash Flow | -$480M |
| Total Debt | $23M |
| Debt-to-Equity | 12.1 |
| Current Ratio | 3.2 |
| Total Assets | $668M |
Price & Trading
| Last Close | $2.05 |
| 50-Day MA | $2.27 |
| 200-Day MA | $2.34 |
| Avg Volume | 35.5M |
| Beta | 4.1 |
|
52-Week Range
$0.67
| |
About Bitfarms Ltd (BITF)
Bitfarms Ltd. operates integrated bitcoin data centers in Canada, the United States, Paraguay, and Argentina. It primarily owns and operates data centers housing computers to validate transactions on the bitcoin blockchain, as well as sells computational power used for hashing calculations for cryptocurrency mining in multiple jurisdictions. The company also provides electrician services to commercial and residential customers in Quebec, Canada. It also undertakes hosting of third-party mining hardware. The company was formerly known as Bitfarms Technologies Ltd and changed its name to Bitfarms Ltd. in October 2018. The company was founded in 2017 and is based in Toronto, Canada.
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Frequently Asked Questions
Is Bitfarms Ltd (BITF) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), Bitfarms Ltd is Not Halal. The company fails one or more screening criteria. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is Bitfarms Ltd's debt ratio?
Bitfarms Ltd's debt ratio is not available under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%.
What are Bitfarms Ltd's key financial metrics?
Bitfarms Ltd has a market capitalization of $1.2B, and revenue of $193M. The company maintains a gross margin of 4.6% and a net margin of -46.4%. Return on equity stands at -12.5%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.