#USA #New York #Pomerantz LLP #BITF #Bitfarms Ltd

Pomerantz Law Firm Investigates Bitfarms Ltd.

On May 6, 2025, Pomerantz LLP, a leading firm in the fields of corporate, securities, and antitrust class litigation, opened an investigation concerning potential claims from investors of Bitfarms Ltd. (NASDAQ: BITF). The firm seeks to determine whether the company and some of its officials engaged in securities fraud or other unwarranted business practices. This investigation comes in light of significant concerns following a recent press release from Bitfarms regarding drastic changes in its financial reporting.

In December 2024, Bitfarms revealed that its consolidated financial statements for the fiscal years 2022 and 2023 included critical errors, specifically related to the classification of digital asset sales proceeds. Such discrepancies necessitated restatement of their previous financial reports. Furthermore, an accounting mistake regarding the redemption of warrants in 2023 raised additional scrutiny, showing systemic flaws in their financial oversight.

The fallout from this news was immediate; on December 10, 2024, Bitfarms’ stock price saw a sharp decline, plummeting by $0.13 per share or 6.07%, settling at a closing price of $2.01. This financial turbulence has sparked outrage and concern among investors, underscoring the potential severity of Bitfarms’ operational transparency and governance standards.

As part of its investigative efforts, Pomerantz LLP invites investors who suffered losses due to Bitfarms' actions to reach out for guidance. Danielle Peyton from the firm can be contacted via email at [email protected] or by phone at 646-581-9980. Those affected may be eligible to join class-action lawsuits for adequate compensation regarding their investment losses stemming from these alleged fraudulent activities.

Founded by Abraham L. Pomerantz, who is widely regarded as the architect of the securities class action, Pomerantz LLP has been fighting for investor rights for over 85 years. The firm is celebrated for its successful recovery of multimillion-dollar judgments on behalf of shareholders who have fallen victim to misleading corporate practices. With offices in major cities including New York, Chicago, Los Angeles, and international locations in London, Paris, and Tel Aviv, Pomerantz is uniquely positioned to support investors navigating these complex legal waters.

The implications of the investigation could be far-reaching, potentially affecting Bitfarms' reputation and operations in the cryptocurrency sector. As digital assets continue to garner public and regulatory scrutiny, firms like Bitfarms must demonstrate the highest levels of compliance and integrity to maintain investor trust and sustain their market positions. This unfolding situation serves as a reminder of the volatile intersection of technology and finance, where regulatory landscapes are rapidly evolving, and investor vigilance is paramount.

For more information on potential claims or to share personal experiences regarding investments in Bitfarms, stakeholders are encouraged to stay in touch with developments from Pomerantz LLP and adhere to official channels for updates on this significant legal inquiry into Bitfarms Ltd.