Keel Infrastructure Corp. Q2 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

Operational and Strategic Highlights
  • Bitfarms mined 718 Bitcoin during Q2 2025 at a direct cost of $48,200 per coin, earning revenue of $98,000 per Bitcoin. This compares to $71 million in mining revenue in Q2 2025—a year-over-year increase of 87%.
  • 12,000+ miners were installed in Q2 2025, completing all planned Bitcoin mining growth initiatives.
  • Argentina operations, which had the least efficient fleet and rising energy costs, will be shuttered by November 11, 2025. This shutdown is expected to result in $18 million in proceeds from cost savings and equipment sales.
  • Key fleet-wide performance improvements post-Argentina exit:
    • Energy efficiency: +1%
    • Average electricity price: -2%
    • Direct hash cost: -5%
    • Fleet uptime: +2%
  • Free cash flow from mining operations is approximately $8 million/month.
  • Bitcoin holdings increased by 25% YTD to ~1,200 BTC (~$145 million at $119,000/BTC).
AI & HPC Expansion Strategy
  • Pivot underway toward becoming a High-Performance Computing (HPC) and AI infrastructure company.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Ladies and gentlemen, thank you for standing by. Welcome to Bitfarms' Second Quarter 2025 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to turn the conference over to Laine Yonker, Director of Investor Relations. Please go ahead. Laine Yonker: Thank you and welcome to Bitfarms' Second Quarter 2025 Conference Call. With me on the call today are Ben Gagnon, Chief Executive Officer and Director; and Jeff Lucas, Chief Financial Officer. Before we begin, please note this call is being webcast with an accompanying slide presentation. Today's press release and our presentation can be accessed on our website bitfarms.com under the Investors section. Turning to Slide 2. I'd like to remind everyone that certain forward-looking statements will be made during the call and that future results could differ from those implied in this statement. The forward-looking information is based on certain assumptions and is subject to risks and uncertainties and I invite you to consult Bitfarms' MD&A for a complete list. Please note that references will be made to certain measures not recognized under IFRS and therefore, may not be comparable to similar measures presented by other companies. We invite listeners to refer to today's press release and our MD&A for definitions of the aforementioned non-IFRS measures and the reconciliations to IFRS measures. Please note that all financial references are denominated

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional