Thames Capital Acquires 7 Million Shares of Bitfarms

Thames Capital Management's Investment: Thames Capital Management LLC disclosed a new position in Bitfarms, acquiring approximately 7 million shares valued at $19.83 million, which represents 2.83% of its reported assets under management as of September 30, 2025.

Bitfarms Performance: Bitfarms' stock has surged by 306% in 2025, significantly outperforming the S&P 500, with shares priced at $4.54 as of October 27, 2025, and a 112% increase over the past year.

Business Operations: Bitfarms is a cryptocurrency mining company based in Toronto, focusing on Bitcoin mining and expanding into data center services for AI processing, while also providing electric services to customers in Quebec.

Investment Risks: Thames Capital's investment in Bitfarms is considered risky due to the company's negative profit margins and debt, with potential for significant losses if Bitcoin prices decline, despite the current momentum in the cryptocurrency market.