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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Registration File No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
  
  <!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange Commission
  on April 22, 2024</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE C<FONT STYLE="font-size: 10pt">OMMISSION</FONT></B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Washington, D.C.
  20549</B></FONT></P>
  
  <P STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  
  
  <P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>FORM S-8</B></FONT></P>
  
  <P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>REGISTRATION
  STATEMENT </B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><I>UNDER </I></B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><I>THE SECURITIES
  ACT OF 1933 </I></B>&nbsp;</FONT></P>
  
  
  
  <P STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Bitfarms Ltd.</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">(Exact name of registrant
  as specified in its charter)</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR>
      <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 49%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Canada</B></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; vertical-align: top; width: 2%; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 49%; text-align: center"><FONT STYLE="font-size: 10pt"><B>N/A</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State
      or other jurisdiction of<BR>
   incorporation or organization)</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S.
      Employer<BR>
   Identification No.)</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
  
  <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B>110 Yonge Street, Suite 160</B></FONT><B>1</B> <B></B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Toronto, Ontario, M5C 1T4</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Address of Principal Executive Offices)</P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Bitfarms Ltd. Long Term Incentive Plan</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full title of the plan)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Cogency Global Inc.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>122 E. 42<SUP>nd</SUP> Street, 18<SUP>th</SUP>
  Floor</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, New York 10168</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name and address of agent for service)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(800) 221-0102</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Telephone number, including area code, of agent
  for service)</P>
  
  
  
  <P STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Copies to:</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Mark D. Wood</B> <B></B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Alyse A. Sagalchik</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Katten Muchin Rosenman LLP</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">525 W. Monroe Street</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Chicago, IL 60661</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(312) 902-5200 &nbsp;</P>
  
  
  
  
  <P STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
  is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.
  See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo;
  and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer</FONT></TD>
      <TD STYLE="width: 25%">&#9744;</TD>
      <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer</FONT></TD>
      <TD STYLE="width: 25%">&#9746;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer</FONT></TD>
      <TD>&#9744;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company</FONT></TD>
      <TD>&#9744;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company</FONT></TD>
      <TD>&#9746;</TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the registrant
  has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
  to Section&nbsp;7(a)(2)(B)&nbsp;of the Securities Act. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">The documents containing the information specified by Part I of Form S-8 (Plan Information and Registrant Information and Employee Annual Information) have been or will be delivered to each participant in the Bitfarms Ltd. Long Term Incentive Plan, effective May 18, 2021, as amended on March 3, 2022 and on January 15, 2024, and amended and restated on April 16, 2024, as specified in Rule 428(b)(1) promulgated by the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), and the instructions to Form S-8. This information has been omitted from this filing in accordance with the provisions of Rule 424 under the Securities Act and the introductory note to Part I of Form S-8. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act. &nbsp;</P>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: -0.5in"><B>PART II</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: -0.5in"><B>INFORMATION REQUIRED
  IN THE REGISTRATION STATEMENT</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: -0.5in">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 3.</B></FONT></TD><TD STYLE="text-indent: -0.125in; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Incorporation of Documents
  by Reference</B></FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following documents filed with the Commission are hereby incorporated
  by reference in this Registration Statement:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Registrant&rsquo;s Annual
  Report on <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390024020602/ea0200005-40f_bitfarms.htm">Form 40-F</A> for the fiscal year ended December 31, 2023, filed with the Commission on March 7, 2024;</FONT></TD>
  </TR></TABLE>
  <P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Material Change Report dated January
  2, 2024 (filed as <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390024000243/ea190998ex99-1_bitfarms.htm">Exhibit 99.1</A> to the Registrant&rsquo;s Current Report on Form 6-K filed on January 2, 2024).</FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Material Change Report dated January
  24, 2024 (filed as <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390024006077/ea192113ex99-1_bitfarms.htm">Exhibit 99.1</A> to the Registrant&rsquo;s Current Report on Form 6-K filed on January 24, 2024).</FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Material Change Report dated February
  1, 2024 (filed as <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390024008976/ea192649ex99-1_bitfarms.htm">Exhibit 99.1</A> to the Registrant&rsquo;s Current Report on Form 6-K filed on February 1, 2024).</FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(e)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">At The Market Offering Agreement,
  by and between the Registrant and H.C. Wainwright &amp; Co., LLC dated March 8, 2024 (filed as <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390024021176/ea020147101ex99-1_bitfarms.htm">Exhibit 99.1</A> to the Registrant&rsquo;s
  Current Report on Form 6-K filed on March 11, 2024).</FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(f)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Material Change Report dated March
  8, 2024 (filed as <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390024021176/ea020147101ex99-2_bitfarms.htm">Exhibit 99.2</A> to the Registrant&rsquo;s Current Report on Form 6-K filed on March 11, 2024).</FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt">(g)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Material Change Report dated March
  11, 2024 (filed as <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390024021447/ea020157201ex99-1_bitfarms.htm">Exhibit 99.1</A> to the Registrant&rsquo;s Current Report on Form 6-K filed on March 11, 2024).</FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.25in">&nbsp;</TD>
      <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(h)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The information set forth under the heading &ldquo;Changes to Executive Team&rdquo; in the Registrant&rsquo;s Current Report on <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390024025516/ea0202519-6k_bitfarms.htm">Form 6-K</A> filed on March 25, 2024.</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: justify">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Material Change Report dated April 1, 2024 (filed as <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390024028704/ea020304001ex99-1_bitfarms.htm">Exhibit 99.1</A> to the Registrant&rsquo;s Current Report on Form 6-K filed on April 1, 2024).</FONT></TD></TR>
  </TABLE>
  
  <P STYLE="margin: 0">&nbsp;&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.25in">&nbsp;</TD>
      <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(j)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Material Change Report dated April 12, 2024 (filed as <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390024032533/ea020380201ex99-1_bitfarms.htm">Exhibit 99.1</A> to the Registrant&rsquo;s Current Report on Form 6-K filed on April 12, 2024).</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: justify">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-size: 10pt">(k)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The description of the Registrant&rsquo;s Common Shares contained in the Registrant&rsquo;s Registration Statement on Form 40-F, filed with the Commission on <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390021023256/ea139842-40fr12b_bitfarms.htm">April 28, 2021</A> and amended on <A HREF="https://www.sec.gov/Archives/edgar/data/1812477/000121390021032713/ea142433-40fr12ba1_bitfarms.htm">June 16, 2021</A>, and any amendments or reports filed with the Commission for the purpose of updating such description.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"></P>
  
  <!-- Field: Page; Sequence: 3; Options: NewSection; Value: 1 -->
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      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, unless otherwise
  stated herein, all documents subsequently filed with the Commission by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of
  the Exchange Act, including any report furnished on Form 6-K if and only to the extent that such report on Form 6-K provides, prior to
  the filing of a post-effective amendment to this registration statement which indicates that all securities offered hereby have been sold
  or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement
  and to be a part hereof from the date of filing of such documents.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any statement contained in
  a document incorporated or deemed to be incorporated by reference or deemed to be part of the registration statement shall be deemed to
  be modified or superseded for purposes of the registration statement to the extent that a statement contained in the registration statement
  or in any other subsequently filed document that also is, or is deemed to be, incorporated by reference or deemed to be part of the registration
  statement modifies or replaces such statement. Any such statement so modified or replaced shall not be deemed, except as so modified or
  replaced, to constitute a part of this Registration Statement.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Description of Securities</B></FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 5.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Interests of Named Experts
  and Counsel</B></FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 6.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Indemnification of Directors
  and Officers</B></FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Section 136 of the&nbsp; <I>Business Corporations Act</I> (Ontario)<I>&nbsp;</I>(&ldquo;OBCA&rdquo;) provides for the indemnification
  of directors and officers of the Registrant. Under these provisions, the Registrant may indemnify a director or officer of the Registrant,
  a former director or officer, and may indemnify an individual who acts or acted at the Registrant&rsquo;s request as a director or officer
  or in a similar capacity of another entity (each, an &ldquo;Indemnified Person&rdquo;) against all costs, charges and expenses, including
  an amount paid to settle an action or satisfy a judgment, reasonably incurred by the Indemnified Person in respect of any civil, criminal,
  administrative, investigative or other proceeding (other than in respect to an action by or on behalf of the Registrant to procure a judgment
  in its favor) in which the individual is involved because of that association with the Registrant or other entity, if the Indemnified
  Person fulfills the following two conditions: (a) he or she acted honestly and in good faith with a view to the best interests of the
  Registrant or in the best interests of such other entity as applicable and (b) in the case of a criminal or administrative action or proceeding
  that is enforced by a monetary penalty, he or she had reasonable grounds for believing that his or her conduct was lawful. In respect
  of an action by or on behalf of the Registrant or such other entity to procure a judgment in its favor, the Registrant, with the approval
  of a court, may indemnify an Indemnified Person against all costs, charges and expenses reasonably incurred by him or her in connection
  with such action if he or she fulfills the conditions set out in clauses (a) and (b) of the previous sentence. Notwithstanding the foregoing,
  an Indemnified Person is entitled to indemnification from the Registrant in respect of all costs, charges and expenses reasonably incurred
  by him or her in connection with the defense of any civil, criminal, administrative, investigative or other proceeding to which he or
  she is made a party by reason of his or her association with the Registrant or such other entity if he or she fulfills the conditions
  in clauses (a) and (b) of this paragraph and was not judged by the court or other competent authority to have committed any fault or omitted
  to do anything that the individual ought to have done.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
  
  <!-- Field: Page; Sequence: 4; Value: 1 -->
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      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A policy of directors&rsquo; and officers&rsquo;
  liability insurance is maintained by the Registrant that insures directors and officers against losses incurred as a result of claims
  against the directors and officers of the Registrant pursuant to the indemnity provisions under the Registrant&rsquo;s articles and the
  OBCA.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Insofar as indemnification for liabilities arising
  under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions,
  the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as expressed in the
  Securities Act and is therefore unenforceable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 7.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Exemption From Registration
  Claimed</B></FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 8.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Exhibits</B></FONT></TD>
  </TR></TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B></B></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; width: 10%; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;No.&#8239;&#8239;&#8239;&#8239;</B></FONT></TD>
      <TD STYLE="width: 1%"><B>&nbsp;</B></TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; vertical-align: bottom; width: 89%"><B>Description</B></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea020433201ex4-1_bit.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Articles of Bitfarms
      Ltd.</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea020433201ex4-2_bit.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bylaws of Bitfarms
      Ltd.</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea020433201ex4-3_bit.htm">Bitfarms Ltd. Long Term Incentive Plan</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea020433201ex5-1_bit.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Peterson
      McVicar LLP</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea020433201ex23-1_bit.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of PricewaterhouseCoopers
      LLP</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea020433201ex5-1_bit.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Peterson
      McVicar LLP (included in Exhibit 5.1)</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power of Attorney (included on the
      signature page of the Registrant to this Registration Statement on Form S-8)</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><A HREF="ea020433201ex-fee_bit.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing Fee Table</FONT></A></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
  <TD STYLE="width: 0.75in; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 9.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Undertakings</B></FONT></TD>
  </TR></TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a) The undersigned registrant hereby undertakes:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.25in">&nbsp;</TD>
      <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in">&nbsp;</TD>
      <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">to include any prospectus required by section 10(a)(3) of the Securities Act;</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&#8239;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in">&nbsp;</TD>
      <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of a prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &quot;<I>Calculation of Registration Fee</I>&quot; table in the effective registration statement;</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&#8239;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></P>
  
  <!-- Field: Page; Sequence: 5; Value: 1 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.5in">&nbsp;</TD>
      <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">provided, however, that the undertakings set forth
  in paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment
  by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section
  15(d) of the Exchange Act that are incorporated by reference in the registration statement.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.25in">&nbsp;</TD>
      <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#8239;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 0.25in">&nbsp;</TD>
      <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#8239;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) The undersigned registrant hereby undertakes
  that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section
  13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to
  Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration
  statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial<I>&#8239;bona
  fide</I>&#8239;offering thereof.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) Insofar as indemnification for liabilities
  arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing
  provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public
  policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such
  liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the
  registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in
  connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled
  by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public
  policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#8239;</P>
  
  
  <!-- Field: Page; Sequence: 6; Value: 1 -->
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      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8239;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
  of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
  for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
  in the city of Toronto, Province of Ontario, Canada, on April 22, 2024.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>BITFARMS LTD.</B></FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 37%"><FONT STYLE="font-size: 10pt">/s/&nbsp;L. Geoffrey Morphy</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">Name: L. Geoffrey Morphy</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">Title: President and Chief Executive Officer</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_001"></A><B>POWER OF ATTORNEY</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8239; <FONT STYLE="font-size: 10pt">KNOW
  ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Jeffrey Lucas and Patricia Osorio,
  or either of them, his or her true and lawful attorneys-in-fact and agents, each of whom may act alone, with full power of substitution
  and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any or all amendments to
  this Registration Statement, including post-effective amendments, and any and all additional registration statements (including amendments
  and post-effective amendments thereto) in connection with any increase in the amount of securities registered with the Commission, and
  to file the same, with all exhibits thereto, and other documents and in connection therewith, with the Commission, granting unto said
  attorneys-in-fact and agents, and each of them full power and authority to do and perform each and every act and thing requisite and necessary
  to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, and hereby ratifies
  and confirms all his or her said attorneys-in-fact and agents or any of them or his substitute or substitutes may lawfully do or cause
  to be done by virtue hereof. This Power of Attorney may be executed in multiple counterparts, each of which shall be deemed an original,
  but which taken together shall constitute one instrument.</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8239;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
  of the Securities Act of 1933, this Registration Statement has been signed by or on behalf of the following persons in the capacities
  indicated and on the dates indicated.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>
  
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 30%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 48%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; width: 1%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 20%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ L. Geoffrey Morphy</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer (Principal Executive</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 22, 2024</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">L. Geoffrey Morphy</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Officer), President and Director</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jeffrey P. Lucas</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer (Principal Financial</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 22, 2024</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeffrey P. Lucas</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Officer and Principal Accounting Officer)</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Emiliano Joel Grodzki</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;Director and Founder</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 22, 2024</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emiliano Joel Grodzki</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Nicolas Bonta</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;Chairman of the Board and Founder</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 22, 2024</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicolas Bonta</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Brian Howlett</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;Lead Director</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 22, 2024</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Brian Howlett</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Andr&eacute;s Finkielsztain</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;Director</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 22, 2024</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andr&eacute;s Finkielsztain</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Edith M. Hofmeister</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;Director</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 22, 2024</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Edith M. Hofmeister</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;</FONT></TD></TR>
    </TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>
  
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AUTHORIZED REPRESENTATIVE</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8239;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of Section 6(a) of
  the Securities Act of 1933, the undersigned has signed this Registration Statement, in the capacity of the duly authorized representative
  of the Registrant in the United States, on April 22, 2024.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#8239;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD COLSPAN="3">
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cogency Global Inc.</B></P>
      <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">as authorized representative for Bitfarms Ltd.</P></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD COLSPAN="3">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
      <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Colleen A. De Vries</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
      <TD STYLE="width: 32%"><FONT STYLE="font-size: 10pt">Colleen A. De Vries</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD><FONT STYLE="font-size: 10pt">&#8239;</FONT></TD>
      <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">Title: &nbsp;&nbsp;</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Sr. Vice President on behalf of Cogency Global Inc.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
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text: Registration File No. 333-
  As filed with the Securities and Exchange Commission
  on April 22, 2024
  UNITED STATES
  SECURITIES AND EXCHANGE C
  OMMISSION
  Washington, D.C.
  20549
  FORM S-8
  REGISTRATION
  STATEMENT
  UNDER
  THE SECURITIES
  ACT OF 1933
  Bitfarms Ltd.
  (Exact name of registrant
  as specified in its charter)
  Canada
  N/A
  (State
      or other jurisdiction of
  incorporation or organization)
  (I.R.S.
      Employer
  Identification No.)
  110 Yonge Street, Suite 160
  1
  Toronto, Ontario, M5C 1T4
  (Address of Principal Executive Offices)
  Bitfarms Ltd. Long Term Incentive Plan
  (Full title of the plan)
  Cogency Global Inc.
  122 E. 42
  nd
  Street, 18
  th
  Floor
  New York, New York 10168
  (Name and address of agent for service)
  (800) 221-0102
  (Telephone number, including area code, of agent
  for service)
  Copies to:
  Mark D. Wood
  Alyse A. Sagalchik
  Katten Muchin Rosenman LLP
  525 W. Monroe Street
  Chicago, IL 60661
  (312) 902-5200
  Indicate by check mark whether the registrant
  is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.
  See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"
  and "emerging growth company" in Rule 12b-2 of the Exchange Act.
  Large accelerated filer
  ☐
  Accelerated filer
  ☒
  Non-accelerated filer
  ☐
  Smaller reporting company
  ☐
  Emerging growth company
  ☒
  If an emerging growth company, indicate by check mark if the registrant
  has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
  to Section 7(a)(2)(B) of the Securities Act.
  ☐
  PART I
  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
  The documents containing the information specified by Part I of Form S-8 (Plan Information and Registrant Information and Employee Annual Information) have been or will be delivered to each participant in the Bitfarms Ltd. Long Term Incentive Plan, effective May 18, 2021, as amended on March 3, 2022 and on January 15, 2024, and amended and restated on April 16, 2024, as specified in Rule 428(b)(1) promulgated by the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act"), and the instructions to Form S-8. This information has been omitted from this filing in accordance with the provisions of Rule 424 under the Securities Act and the introductory note to Part I of Form S-8. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Registration Statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
  1
  PART II
  INFORMATION REQUIRED
  IN THE REGISTRATION STATEMENT
  Item 3.
  Incorporation of Documents
  by Reference
  The following documents filed with the Commission are hereby incorporated
  by reference in this Registration Statement:
  (a)
  The Registrant's Annual
  Report on
  Form 40-F
  for the fiscal year ended December 31, 2023, filed with the Commission on March 7, 2024;
  (b)
  Material Change Report dated January
  2, 2024 (filed as
  Exhibit 99.1
  to the Registrant's Current Report on Form 6-K filed on January 2, 2024).
  (c)
  Material Change Report dated January
  24, 2024 (filed as
  Exhibit 99.1
  to the Registrant's Current Report on Form 6-K filed on January 24, 2024).
  (d)
  Material Change Report dated February
  1, 2024 (filed as
  Exhibit 99.1
  to the Registrant's Current Report on Form 6-K filed on February 1, 2024).
  (e)
  At The Market Offering Agreement,
  by and between the Registrant and H.C. Wainwright & Co., LLC dated March 8, 2024 (filed as
  Exhibit 99.1
  to the Registrant's
  Current Report on Form 6-K filed on March 11, 2024).
  (f)
  Material Change Report dated March
  8, 2024 (filed as
  Exhibit 99.2
  to the Registrant's Current Report on Form 6-K filed on March 11, 2024).
  (g)
  Material Change Report dated March
  11, 2024 (filed as
  Exhibit 99.1
  to the Registrant's Current Report on Form 6-K filed on March 11, 2024).
  (h)
  The information set forth under the heading "Changes to Executive Team" in the Registrant's Current Report on
  Form 6-K
  filed on March 25, 2024.
  (i)
  Material Change Report dated April 1, 2024 (filed as
  Exhibit 99.1
  to the Registrant's Current Report on Form 6-K filed on April 1, 2024).
  (j)
  Material Change Report dated April 12, 2024 (filed as
  Exhibit 99.1
  to the Registrant's Current Report on Form 6-K filed on April 12, 2024).
  (k)
  The description of the Registrant's Common Shares contained in the Registrant's Registration Statement on Form 40-F, filed with the Commission on
  April 28, 2021
  and amended on
  June 16, 2021
  , and any amendments or reports filed with the Commission for the purpose of updating such description.
  II-
  1
  In addition, unless otherwise
  stated herein, all documents subsequently filed with the Commission by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of
  the Exchange Act, including any report furnished on Form 6-K if and only to the extent that such report on Form 6-K provides, prior to
  the filing of a post-effective amendment to this registration statement which indicates that all securities offered hereby have been sold
  or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement
  and to be a part hereof from the date of filing of such documents.
  Any statement contained in
  a document incorporated or deemed to be incorporated by reference or deemed to be part of the registration statement shall be deemed to
  be modified or superseded for purposes of the registration statement to the extent that a statement contained in the registration statement
  or in any other subsequently filed document that also is, or is deemed to be, incorporated by reference or deemed to be part of the registration
  statement modifies or replaces such statement. Any such statement so modified or replaced shall not be deemed, except as so modified or
  replaced, to constitute a part of this Registration Statement.
  Item 4.
  Description of Securities
  Not applicable.
  Item 5.
  Interests of Named Experts
  and Counsel
  Not applicable.
  Item 6.
  Indemnification of Directors
  and Officers
  Section 136 of the
  Business Corporations Act
  (Ontario)
  ("OBCA") provides for the indemnification
  of directors and officers of the Registrant. Under these provisions, the Registrant may indemnify a director or officer of the Registrant,
  a former director or officer, and may indemnify an individual who acts or acted at the Registrant's request as a director or officer
  or in a similar capacity of another entity (each, an "Indemnified Person") against all costs, charges and expenses, including
  an amount paid to settle an action or satisfy a judgment, reasonably incurred by the Indemnified Person in respect of any civil, criminal,
  administrative, investigative or other proceeding (other than in respect to an action by or on behalf of the Registrant to procure a judgment
  in its favor) in which the individual is involved because of that association with the Registrant or other entity, if the Indemnified
  Person fulfills the following two conditions: (a) he or she acted honestly and in good faith with a view to the best interests of the
  Registrant or in the best interests of such other entity as applicable and (b) in the case of a criminal or administrative action or proceeding
  that is enforced by a monetary penalty, he or she had reasonable grounds for believing that his or her conduct was lawful. In respect
  of an action by or on behalf of the Registrant or such other entity to procure a judgment in its favor, the Registrant, with the approval
  of a court, may indemnify an Indemnified Person against all costs, charges and expenses reasonably incurred by him or her in connection
  with such action if he or she fulfills the conditions set out in clauses (a) and (b) of the previous sentence. Notwithstanding the foregoing,
  an Indemnified Person is entitled to indemnification from the Registrant in respect of all costs, charges and expenses reasonably incurred
  by him or her in connection with the defense of any civil, criminal, administrative, investigative or other proceeding to which he or
  she is made a party by reason of his or her association with the Registrant or such other entity if he or she fulfills the conditions
  in clauses (a) and (b) of this paragraph and was not judged by the court or other competent authority to have committed any fault or omitted
  to do anything that the individual ought to have done.
  II-
  2
  A policy of directors' and officers'
  liability insurance is maintained by the Registrant that insures directors and officers against losses incurred as a result of claims
  against the directors and officers of the Registrant pursuant to the indemnity provisions under the Registrant's articles and the
  OBCA.
  Insofar as indemnification for liabilities arising
  under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions,
  the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as expressed in the
  Securities Act and is therefore unenforceable.
  Item 7.
  Exemption From Registration
  Claimed
  Not applicable.
  Item 8.
  Exhibits
  Exhibit No.
  Description
  4.1
  Articles of Bitfarms
      Ltd.
  4.2
  Bylaws of Bitfarms
      Ltd.
  4.3
  Bitfarms Ltd. Long Term Incentive Plan
  5.1
  Opinion of Peterson
      McVicar LLP
  23.1
  Consent of PricewaterhouseCoopers
      LLP
  23.2
  Consent of Peterson
      McVicar LLP (included in Exhibit 5.1)
  24.1
  Power of Attorney (included on the
      signature page of the Registrant to this Registration Statement on Form S-8)
  107
  Filing Fee Table
  Item 9.
  Undertakings
  (a) The undersigned registrant hereby undertakes:
  (1)
  To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
  (i)
  to include any prospectus required by section 10(a)(3) of the Securities Act;
  (ii)
  to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of a prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "
  Calculation of Registration Fee
  " table in the effective registration statement;
  II-
  3
  (iii)
  to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
  provided, however, that the undertakings set forth
  in paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment
  by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section
  15(d) of the Exchange Act that are incorporated by reference in the registration statement.
  (2)
  That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
  (3)
  To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
  (b) The undersigned registrant hereby undertakes
  that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to Section
  13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to
  Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration
  statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
  bona
  fide
  offering thereof.
  (c) Insofar as indemnification for liabilities
  arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing
  provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public
  policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such
  liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the
  registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in
  connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled
  by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public
  policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
  II-
  4
  SIGNATURES
  Pursuant to the requirements
  of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
  for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
  in the city of Toronto, Province of Ontario, Canada, on April 22, 2024.
  BITFARMS LTD.
  By:
  /s/ L. Geoffrey Morphy
  Name: L. Geoffrey Morphy
  Title: President and Chief Executive Officer
  POWER OF ATTORNEY
  KNOW
  ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Jeffrey Lucas and Patricia Osorio,
  or either of them, his or her true and lawful attorneys-in-fact and agents, each of whom may act alone, with full power of substitution
  and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any or all amendments to
  this Registration Statement, including post-effective amendments, and any and all additional registration statements (including amendments
  and post-effective amendments thereto) in connection with any increase in the amount of securities registered with the Commission, and
  to file the same, with all exhibits thereto, and other documents and in connection therewith, with the Commission, granting unto said
  attorneys-in-fact and agents, and each of them full power and authority to do and perform each and every act and thing requisite and necessary
  to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, and hereby ratifies
  and confirms all his or her said attorneys-in-fact and agents or any of them or his substitute or substitutes may lawfully do or cause
  to be done by virtue hereof. This Power of Attorney may be executed in multiple counterparts, each of which shall be deemed an original,
  but which taken together shall constitute one instrument.
  Pursuant to the requirements
  of the Securities Act of 1933, this Registration Statement has been signed by or on behalf of the following persons in the capacities
  indicated and on the dates indicated.
  Signature
  Title
  Date
  /s/ L. Geoffrey Morphy
  Chief Executive Officer (Principal Executive
  April 22, 2024
  L. Geoffrey Morphy
  Officer), President and Director
  /s/ Jeffrey P. Lucas
  Chief Financial Officer (Principal Financial
  April 22, 2024
  Jeffrey P. Lucas
  Officer and Principal Accounting Officer)
  /s/ Emiliano Joel Grodzki
  Director and Founder
  April 22, 2024
  Emiliano Joel Grodzki
  /s/ Nicolas Bonta
  Chairman of the Board and Founder
  April 22, 2024
  Nicolas Bonta
  /s/ Brian Howlett
  Lead Director
  April 22, 2024
  Brian Howlett
  /s/ Andrés Finkielsztain
  Director
  April 22, 2024
  Andrés Finkielsztain
  /s/ Edith M. Hofmeister
  Director
  April 22, 2024
  Edith M. Hofmeister
  II-
  5
  AUTHORIZED REPRESENTATIVE
  Pursuant to the requirements of Section 6(a) of
  the Securities Act of 1933, the undersigned has signed this Registration Statement, in the capacity of the duly authorized representative
  of the Registrant in the United States, on April 22, 2024.
  Cogency Global Inc.
  as authorized representative for Bitfarms Ltd.
  By:
  /s/ Colleen A. De Vries
  Name:
  Colleen A. De Vries
  Title:
  Sr. Vice President on behalf of Cogency Global Inc.
  II-6