Fair Money & Economic Opportunity

Bitfarms Ltd. is a Bitcoin mining company.

The provided articles indicate that the company's core business is Bitcoin mining and the operation of data centers. There is no evidence that Bitfarms Ltd. offers lending, insurance, deposit services, or any other consumer financial products. Therefore, all KPIs related to 'Fair Money & Economic Opportunity', which evaluate financial institutions' impact on consumers through financial products and services, are not applicable to Bitfarms Ltd.

Fair Pay & Worker Respect

In 2024, Bitfarms conducted a formal employee engagement survey, receiving an average score of 81% positive.

For the period of January 1, 2024, to December 31, 2024, the company reported that it had not identified any instances of forced or child labor in its supply chains.

Fair Trade & Ethical Sourcing

The provided articles, including governance documents and a whistleblower policy, state a general commitment to ethical and responsible business practices and supply chain issues.

However, they explicitly indicate a lack of specific, quantitative data for all key performance indicators related to fair trade and ethical sourcing, such as certification rates, audit frequencies, forced labor incidents, traceability coverage, remediation speed, ethical clause coverage, materials risk index, or supplier diversity spend. Therefore, no KPIs can be scored based on the available evidence.

Kind to Animals

Bitfarms Ltd. is a Bitcoin mining company that operates data centers. Its core business model does not involve products requiring cruelty-free certification, animal testing, animal husbandry, animal-derived ingredients, or animal agriculture. Therefore, the relevant KPIs are not applicable to its operations, and a score of 0 (N/A) is assigned where appropriate. There is no evidence in the provided articles of Bitfarms engaging in any activities that would directly impact animal welfare, such as animal testing, sourcing animal products, or operating animal agriculture facilities. While some articles discuss the environmental impact of global Bitcoin mining, including land use and potential habitat destruction,

these impacts are not specifically attributed to Bitfarms' direct operations or linked to specific wildlife conservation initiatives by the company. Similarly, general complaints about noise impacting animals from crypto mining operations are not specifically linked to Bitfarms.

No War, No Weapons

Bitfarms Ltd. is a Bitcoin mining company, and its core business does not involve defense or arms-related activities.

The company's revenue is derived from Bitcoin mining, with no evidence of any revenue from arms or defense contracts. There is no indication of dual-use technology development, sales to embargoed regimes, or investment in peacebuilding initiatives. The company does not have defense-related assets to divest, nor does it engage in defense procurement or lobbying related to arms control. There is no evidence of involvement in intelligence or surveillance contracts, or the use of AI systems with military applications. The company's operations do not require ethical red lines related to weapons, nor does it have exposure to controversial weapons or conflict minerals. No war-risk audits or annual reviews of conflict-linked partners are mentioned, as these are not applicable to its business model.

Respect for Cultures & Communities

Bitfarms has established at least three formal partnerships with local educational institutions, including the Panther Valley School District, a Centre de Formation professionnelle in Sherbrooke, Quebec, and a technical school in Rio Cuarto, Argentina.

The company reported no cultural appropriation incidents for the 2024 reporting period. Bitfarms provides 24/7 access to grievance mechanisms via an independent third-party platform and telephone, covering its operations in the United States, Canada, Paraguay, and Argentina. However, only 20-40% of employees completed cultural sensitivity training in 2024.

Safe & Smart Tech

No evidence was found in the provided articles to assess Bitfarms Ltd. against the 'Safe & Smart Tech' ethical value. The articles discuss a class action lawsuit related to financial reporting and internal controls,

and a hostile takeover attempt, which do not provide specific data points on data protection, cybersecurity, or responsible AI practices.

Zero Waste & Sustainable Products

Stronghold Digital Mining, which Bitfarms plans to acquire, had an unpermitted coal ash pile at its Scrubgrass facility that exceeded its approved size, flagged as a permit violation by the Pennsylvania Department of Environmental Protection (DEP) in 2022.

This coal ash contains hazardous materials, and a settlement requires its removal by September 2026. Bitfarms has implemented several waste reduction initiatives, including formalized e-waste management through refurbishment, certified recyclers, and resale channels, and partnered with ERS International in 2024 for responsible waste disposal. The company also has pilot to commercial-scale heat recovery projects, with estimated annual energy cost savings of up to 10-25% at participating sites. Stronghold also burns waste coal at its power plants.