Press release

Bitfarms Announces Option Grant

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Bitfarms Ltd. (“Bitfarms”) (TSXV: BITF) today announces that, in connection with the recently completed transaction to consolidate the ownership of its operating entity, Backbone Hosting Solutions Inc., it issued an aggregate of 268,136 options to purchase common shares.

Mr. Fulford, Bitfarms’ CEO, and Mr. Rim, Bitfarms’ CFO, were each granted options to purchase 146,256 and 121,880 common shares, respectively. The options vest on March 20, 2021, have an exercise price of $1.25 per share and are exercisable until August 15, 2024.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.