#United States #New York #Pomerantz LLP #BITF #Bitfarms Ltd

Pomerantz Law Firm Launches Investigation for Bitfarms Ltd. Investors

On April 22, 2025, Pomerantz LLP, a well-respected class action law firm, announced its investigation on behalf of investors in Bitfarms Ltd. (listed under NASDAQ: BITF). The focus of this inquiry is to evaluate whether the company, along with specific officers and directors, may have committed securities fraud or engaged in other illegal business activities. This investigation follows troubling revelations regarding significant errors in Bitfarms' financial statements.

Background of the Investigation

The catalyst for the investigation was a press release issued by Bitfarms on December 9, 2024. In this communication, the company disclosed a material error affecting its consolidated financial statements for the fiscal years 2022 and 2023, particularly concerning the classification of sales proceeds from digital assets. Additionally, Bitfarms admitted to an accounting mistake related to the redemption of warrants, necessitating further adjustments to its financial reporting.

Following the announcement of these discrepancies, Bitfarms' stock experienced a notable decline. On December 10, 2024, the stock price dropped by $0.13, translating to a 6.07% decrease, closing at $2.01 per share. This decline reflected investor concern and the potential ramifications of the company's misreported financial health.

Importance of the Investigation

Pomerantz LLP has a storied history in the realm of securities litigation, having pioneered the field of class actions for investors. With its head offices in major cities like New York, Chicago, and Los Angeles, the firm specializes in corporate, securities, and antitrust class litigation. Over the past 85 years, it has successfully fought to recover damages for victims of corporate misdeeds, securing millions for affected investors. The ongoing investigation into Bitfarms underscores the firm's commitment to ensuring accountability in corporate governance and protecting investors' rights.

How to Get Involved

Investors who have acquired shares of Bitfarms Ltd. are encouraged to reach out to Pomerantz LLP for guidance on potential participation in the investigation. Those interested can contact Danielle Peyton at danielle.p@pomlaw.com or by calling 646-581-9980, extension 7980. This could lead to involvement in a class action suit if evidence suggests that Bitfarms engaged in deceitful practices, providing victims with a path to seek financial restitution.

Conclusion

The investigation by Pomerantz LLP serves as a critical reminder of the importance of vigilance and transparency in the financial markets. For investors in Bitfarms Ltd., this investigation could be pivotal in understanding the legitimacy of their investments and the potential for recovery in light of recent financial misstatements. As the situation unfolds, stakeholders in Bitfarms will be watching closely for further developments that may impact their financial futures and confidence in the market.

For More Information

For those looking for additional insight into this case or other happenings in the financial world, visit Pomerantz LLP’s official website at www.pomlaw.com. Furthermore, as this investigation progresses, updates will likely follow, shedding more light on the fate of Bitfarms and its impact on investors.