NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP, a distinguished law firm with over 125 years of history, informs investors that a class action lawsuit has been filed lawsuit against Bitfarms Ltd. (Bitfarms or the Company) (NASDAQ: BITF) for violations of the federal securities laws on behalf of investors who purchased or quired Bitfarms securities between March 21, 2023 and December 9, 2024, inclusive (the Class Period).

Deadline to sign up:

If you are an investor who bought or otherwise acquired Bitfarms securities during the Class Period, you have until July 8, 2025, to ask the Court to appoint you as Lead Plaintiff for the class.

PLEASE CLICK HERE TO JOIN THE CASE AND SUBMIT CONTACT INFORMATION

What happened:

The filed complaint alleges that throughout the Class Period, the defendants made materially false, misleading and potentially damaging statements regarding the Business Operations of Bitfarms.

On May 9, 2025, a complaint was filed against the Company and certain of its current and former officers, alleging that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that:

• Bitfarms maintained deficient internal controls over financial reporting;
• as a result, the Company incorrectly categorized proceeds derived from the sale of digital assets as cash flow from operating activities rather than as cash flow from investing activities;
• in addition, the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants;
• the foregoing errors caused Bitfarms to misstate assorted items in several of the Company’s previously issued financial statements; and
• as a result, these financial statements were inaccurate and would likely need to be restated; and
  

Why Wolf Haldenstein Adler Freeman & Herz LLP?:

This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.

We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.

Contact:

• Phone: (800) 575-0735 or (212) 545-4774
• Email: classmember@whafh.com
• Contact Person: Gregory Stone, Director of Case and Financial Analysis
  

Firm Website: Wolf Haldenstein Adler Freeman & Herz LLP