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Important Notice for Bitfarms Ltd. Investors

In a recent announcement, The Gross Law Firm has reached out to shareholders of Bitfarms Ltd. (NASDAQ: BITF), particularly those who acquired shares during the specified class period. This important communication highlights the need for shareholders to understand their rights and potential involvement in a class action lawsuit concerning allegations of misleading statements and accounting inaccuracies made by the company.

Timely Registration

Shareholders are strongly encouraged to register their information to ensure they receive critical updates throughout the course of the legal proceedings. The class period in question runs from March 21, 2023, to December 9, 2024, and any shareholders who purchased shares within this timeframe may qualify for potential recovery.

Allegations Against Bitfarms Ltd.

The legal complaint against Bitfarms Ltd. outlines several serious allegations, including:

1. Deficient Internal Controls: The firm alleged that Bitfarms did not maintain adequate internal controls regarding financial reporting, which is essential for accurate and transparent financial disclosures.
2. Improper Cash Flow Classification: The company was accused of incorrectly categorizing proceeds from digital asset sales as cash flow from operating activities instead of investment activities, which could mislead investors about the company's financial health.
3. Misstatements of Financial Statements: It is claimed that multiple prior financial statements were inaccurate and needed restating. This implies that shareholders relied on erroneous information when making their investment decisions.
4. Material Weaknesses in Internal Controls: Allegations detail that Bitfarms overstated its ability to address these internal control deficiencies, further clouding investors' understanding of the company’s fiscal responsibility.

According to the firm, these misleading statements were significant enough to artificially inflate Bitfarms' stock value and mislead investors regarding the company's true financial state.

Next Steps for Shareholders

To participate in any potential recovery, shareholders must act promptly. The deadline for seeking designation as a lead plaintiff in the class action lawsuit is set for July 8, 2025. This designation, while beneficial for some, is not a prerequisite for involvement in the case. Shareholders can easily register and monitor their case status by visiting the firm’s dedicated registration link provided below:

Register Here to Participate

Why Choose The Gross Law Firm?

The Gross Law Firm is recognized nationwide for its commitment to investor rights and class action lawsuits. They stand firm in their mission to protect investors from deceit and fraudulent practices. The firm's extensive legal expertise in handling class actions makes them a reliable partner for injured shareholders seeking justice and recovery.

They provide an obligation-free registration process, assuring that there are no costs to the investors wishing to engage. The Gross Law Firm emphasizes their goal to ensure that companies maintain ethical standards and responsible business practices, further solidifying their role as advocates for the investing public.

Contact Information

For further details or to discuss your situation, you may contact The Gross Law Firm directly:

• - Address: 15 West 38th Street, 12th floor, New York, NY, 10018
• - Email: [email protected]
• - Phone: (646) 453-8903

In conclusion, shareholders of Bitfarms Ltd. have pivotal steps to take in the coming weeks. Registering with The Gross Law Firm is not only an opportunity to protect one's investment but also a chance to hold the company accountable for its actions. The deadline is approaching, and it’s vital to ensure your voice is heard in this matter.