Bitfarms Announces Partnership with T5 Data Centers to Advance HPC/AI Development at Panther Creek Campus

Rhea-AI Summary

Bitfarms (NASDAQ/TSX: BITF) has announced a strategic partnership with T5 Data Centers to advance HPC/AI development at its Panther Creek campus in Pennsylvania. T5, which serves major U.S. hyperscalers, will provide comprehensive pre-construction design planning and development services.

The collaboration aims to develop a state-of-the-art facility for high-performance computing and AI applications, leveraging Bitfarms' 1 GW pipeline in Pennsylvania. The partnership aligns with recent White House commitments of $90 billion in AI investments and positions Bitfarms to capitalize on Pennsylvania's emergence as a hub for next-generation data center development.

Positive

• None.

Negative

• Significant capital investment required for data center development
• Execution risks in entering new HPC/AI market segment

Insights

Data Center Infrastructure Specialist

Bitfarms partners with T5 Data Centers to develop AI infrastructure at Panther Creek, positioning for growth in the booming AI data center market.

Bitfarms' partnership with T5 Data Centers represents a strategic pivot toward the high-growth AI infrastructure market. T5 brings valuable expertise as a proven leader in data center development, with relationships with all major U.S. hyperscalers - a significant credibility boost for Bitfarms' ambitions beyond cryptocurrency mining.

The focus on the Panther Creek campus in Pennsylvania is particularly well-timed. The state is emerging as a key digital infrastructure hub, and the partnership coincides with the White House's $90 billion commitment to AI investments. Bitfarms' 1 GW power pipeline in Pennsylvania positions them to capitalize on the intense demand for AI computing resources.

This move addresses a critical challenge in the AI sector - the severe shortage of power-ready sites for AI workloads. Data centers for AI require 3-5x the power density of traditional facilities, and securing both power capacity and construction expertise is a significant competitive advantage.

The pre-construction planning focus suggests Bitfarms is taking a methodical approach to this expansion, likely aiming to create purpose-built facilities optimized for the unique cooling and power requirements of AI hardware. T5's expertise in design and construction will be crucial for creating infrastructure that can handle the extreme demands of AI computation while maintaining efficiency.

This partnership signals Bitfarms' evolution beyond pure cryptocurrency mining toward becoming a diversified digital infrastructure provider - potentially insulating the company from crypto market volatility while positioning it in the rapidly expanding AI computing sector.

TORONTO, Ontario and NEW YORK, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF) (the “Company”), a global energy and compute infrastructure company, today announced its partnership with T5 Data Centers, LLC (“T5”) to advance HPC/AI development at its Panther Creek campus in Pennsylvania.

T5 Data Centers is an established leader in data center design, construction and operations, providing a full range of data center services from development and construction to facility management and operation. They offer customizable, scalable solutions for both enterprise and hyperscale clients, ensuring reliable high-performance computing environments.

This strategic engagement will focus on comprehensive pre-construction design planning and development approval processes to advance this significant digital infrastructure investment. Leveraging deep expertise in providing construction services and ground-up development, T5 will provide critical guidance and coordination throughout the planning phase. The goal is to ensure this state-of-the-art facility is purpose-built to meet the demands of high-performance computing and artificial intelligence applications, while supporting Pennsylvania’s emergence as a hub for next-generation data center development.

CEO Ben Gagnon stated “We are thrilled to announce our partnership with T5 Data Centers. With the seven major U.S. hyperscalers as their customers, T5 brings unparalleled industry expertise and is a proven leader in data center Construction, Development, and Operations. This collaboration validates the significant HPC/AI opportunity at our flagship Panther Creek campus in Pennsylvania, where strong political tailwinds following the recent White House commitment to $90 billion of AI investments intersect our 1 GW pipeline in Pennsylvania, positioning Bitfarms at the forefront of the rapidly growing AI infrastructure market in the state. We are excited to leverage T5’s expertise to capitalize on this opportunity, driving development and delivering long-term value for our shareholders."

Tom Mertz, President and COO of T5 Services added “We’re excited to be selected as a strategic construction partner for Bitfarms as they expand into HPC/AI data center development. Their Panther Creek, Pennsylvania property is well-positioned for building an advanced AI data center campus, and we look forward to supporting this next phase of their growth."

About Bitfarms Ltd.
Founded in 2017, Bitfarms is a North American energy and compute infrastructure company that develops, owns, and operates vertically integrated data centers. Bitfarms currently operates 15 data centers situated in four countries, which currently mine Bitcoin: the United States, Canada, Argentina and Paraguay.

To learn more about Bitfarms’ events, developments, and online communities:

www.bitfarms.com
https://www.facebook.com/bitfarms/
http://x.com/Bitfarms_io
https://www.instagram.com/bitfarms/
https://www.linkedin.com/company/bitfarms/

Forward-Looking Statements
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the partnership with T5 Data Centers, LLC to advance HPC/AI development at the Company’s Panther Creek campus in Pennsylvania, the North American energy and compute infrastructure strategy, opportunities relating to the Company’s HPC/AI strategy, the Company’s ability to drive greater shareholder value, growth opportunities and prospects for the Company, and other statements regarding future growth, plans and objectives of the Company are forward-looking information.

Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. This forward-looking information is based on assumptions and estimates of management of Bitfarms at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Bitfarms to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors, risks and uncertainties include, among others: the risk that the anticipated benefits of the partnership with T5 Data Centers, LLC and/or the ability to advance HPC/AI development at the Company’s Panther Creek campus in Pennsylvania fail to materialize in a timely manner and on an economic basis or at all; an inability to apply the Company’s data centers to HPC/AI opportunities on a profitable basis; a failure to secure long-term contracts associated with HPC/AI customers on terms which are economic or at all; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; an inability to satisfy the Panther Creek location related milestones which are conditions to loan drawdowns under the Macquarie Group financing facility; an inability to deploy the proceeds of the Macquarie Group financing facility to generate positive returns at the Panther Creek location; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; new miners may not perform up to expectations; revenue may not increase as currently anticipated, or at all; the ongoing ability to successfully mine digital currency is not assured; failure of the equipment upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the power purchase agreements and economics thereof may not be as advantageous as expected; potential environmental cost and regulatory penalties due to the operation of the former Stronghold plants which entail environmental risk and certain additional risk factors particular to the former business and operations of Stronghold including, land reclamation requirements may be burdensome and expensive, changes in tax credits related to coal refuse power generation could have a material adverse effect on the business, financial condition, results of operations and future development efforts, competition in power markets may have a material adverse effect on the results of operations, cash flows and the market value of the assets, the business is subject to substantial energy regulation and may be adversely affected by legislative or regulatory changes, as well as liability under, or any future inability to comply with, existing or future energy regulations or requirements, the operations are subject to a number of risks arising out of the threat of climate change, and environmental laws, energy transitions policies and initiatives and regulations relating to emissions and coal residue management, which could result in increased operating and capital costs and reduce the extent of business activities, operation of power generation facilities involves significant risks and hazards customary to the power industry that could have a material adverse effect on our revenues and results of operations, and there may not have adequate insurance to cover these risks and hazards, employees, contractors, customers and the general public may be exposed to a risk of injury due to the nature of the operations, limited experience with carbon capture programs and initiatives and dependence on third-parties, including consultants, contractors and suppliers to develop and advance carbon capture programs and initiatives, and failure to properly manage these relationships, or the failure of these consultants, contractors and suppliers to perform as expected, could have a material adverse effect on the business, prospects or operations; the digital currency market; the ability to successfully mine digital currency; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power to operate cryptocurrency mining assets; the risks of an increase in electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which Bitfarms operates and the potential adverse impact on profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; the risks of debt leverage and the ability to service and eventually repay the Macquarie Group financing facility; volatile securities markets impacting security pricing unrelated to operating performance; the risk that a material weakness in internal control over financial reporting could result in a misstatement of financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; risks related to the Company ceasing to qualify as an “emerging growth company”; risks related to unsolicited investor interest, takeover proposals, shareholder activism or proxy contests relating to the election of directors; risks relating to lawsuits and other legal proceedings and challenges; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to Bitfarms’ filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission (the “SEC") at www.sec.gov), including the Company's annual information form for the year ended December 31, 2024, management’s discussion & analysis for the year-ended December 31, 2024 and the management's discussion and analysis for the three months ended March 31, 2025. Although Bitfarms has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by Bitfarms. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. Bitfarms does not undertake any obligation to revise or update any forward-looking information other than as required by law. Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Investor Relations Contact:
Laine Yonker
lyonker@bitfarms.com

Media Contact:
Caroline Brady Baker
cbaker@bitfarms.com

FAQ

What is the partnership between Bitfarms (BITF) and T5 Data Centers?

Bitfarms has partnered with T5 Data Centers for pre-construction design planning and development of its HPC/AI facility at the Panther Creek campus in Pennsylvania. T5 will provide critical guidance and coordination throughout the planning phase.

How much power capacity does Bitfarms have for AI development in Pennsylvania?

Bitfarms has a 1 GW pipeline in Pennsylvania for AI infrastructure development.

How does the Bitfarms-T5 partnership align with government AI initiatives?

The partnership aligns with the White House's recent commitment to $90 billion of AI investments, positioning Bitfarms to capitalize on the growing AI infrastructure market in Pennsylvania.

Who are T5 Data Centers' main customers?

T5 Data Centers serves seven major U.S. hyperscalers as their customers and is a proven leader in data center Construction, Development, and Operations.

What is the significance of Bitfarms' Panther Creek campus location?

The Panther Creek campus in Pennsylvania is strategically positioned to become a hub for next-generation data center development, particularly for HPC and AI applications, benefiting from strong political support and substantial power infrastructure.