This proxy revokes and supersedes all earlier dated proxies and MUST BE SIGNED

Proxy Voting – Guidelines and Conditions

THIS PROXY IS SOLICITED BY MANAGEMENT OF THE CORPORATION.

THIS PROXY SHOULD BE READ IN CONJUNCTION WITH THE MEETING MATERIALS PRIOR TO VOTING.

If you appoint the Management Nominees to vote your securities, they will vote in accordance with your instructions or, if no instructions are given, in accordance with the Management Voting Recommendations highlighted for each Resolution on the reverse. If you appoint someone else to vote your securities, they will also vote in accordance with your instructions or, if no instructions are given, as they in their discretion choose.

This proxy confers discretionary authority on the person named to vote in his or her discretion with respect to amendments or variations to the matters identified in the Notice of the Meeting accompanying the proxy or such other matters which may properly come before the Meeting or any adjournment or postponement thereof.

Each security holder has the right to appoint a person other than the Management Nominees specified herein to represent them at the Meeting or any adjournment or postponement thereof. Such right may be exercised by inserting in the space labeled “Please print appointee name”, the name of the person to be appointed, who need not be a security holder of the Corporation.

To be valid, this proxy must be signed. Please date the proxy. If the proxy is not dated, it is deemed to bear the date of its mailing to the security holders of the Corporation.

To be valid, this proxy must be filed using one of the Voting Methods and must be received by TSX Trust Company before the Filing Deadline for Proxies, noted on the reverse or in the case of any adjournment or postponement of the Meeting not less than 48 hours (Saturdays, Sundays and holidays excepted) before the time of the adjourned or postponed meeting. Late proxies may be accepted or rejected by the Chairman of the Meeting in his discretion, and the Chairman is under no obligation to accept or reject any particular late proxy.

If the security holder is a corporation, the proxy must be executed by an officer or attorney thereof duly authorized, and the security holder may be required to provide documentation evidencing the signatory’s power to sign the proxy.

Guidelines for proper execution of the proxy are available at www.stac.ca. Please refer to the Proxy Protocol.

Investor inSite

TSX Trust Company offers at no cost to security holders, the convenience of secure 24-hour access to all data relating to their account including summary of holdings, transaction history, and links to valuable security holder forms and Frequently Asked Questions.

To register, please visit https://www.tsxtrust.com/t/investor-hub/forms/investor-insiteregistration

Click on, “Register” and complete the registration form. Call us toll free at 1-866-600-5869 with any questions.

Notice-and-Access

The Canadian securities regulators have adopted rules which permit the use of notice-and-access for proxy solicitation instead of the traditional physical delivery of material. This new process provides the option to post meeting related materials including management information circulars as well as annual financial statements and management’s discussion and analysis, on a website in addition to SEDAR. Under notice-and-access, meeting related materials will be available for viewing for up to 1 year from the date of posting and a paper copy of the material can be requested at any time during this period.

Disclosure regarding each matter or group of matters to be voted on is in the Information Circular in the Section with the same title as each Resolution on the reverse. You should review the Information Circular before voting.

Bitfarms Ltd. has elected to utilize notice-and-access and provide you with the following information:

Meeting materials are available electronically at www.sedar.com and also at https://docs.tsxtrust.com/2253.

If you wish to receive a paper copy of the Meeting materials or have questions about notice-and-access, please call 1-866-600-5869 or email tsxtis@tmx.com. In order to receive a paper copy in time to vote before the meeting, your request should be received by May 12, 2023.

Request for Financial Statements

In accordance with securities regulations, security holders may elect to receive Annual Financial Statements and MD&A.

Instead of receiving the financial statements by mail, you may choose to view these documents on SEDAR at www.sedar.com.

I am currently a security holder of the Corporation and as such request the following:

☐

Annual Financial Statements with MD&A
(Mark this box to NOT receive Annual Financial Statements and related MD&A)

If you are casting your vote online and wish to receive financial statements, please complete the online request for financial statements following your voting instructions.

If the cut-off time has passed, please fax this side to 416-595-9593

Bitfarms Ltd.

2023

	RECORD DATE:	April 4, 2023
	CONTROL NUMBER:
	SEQUENCE #:
	FILING DEADLINE FOR PROXY:	May 19, 2023 at 10:00 a.m. (Toronto time)

	VOTING METHOD
	INTERNET	Go to www.voteproxyonline.com and enter the 12 digit control number above
	FACSIMILE	416-595-9593
	MAIL	TSX Trust Company 301 - 100 Adelaide Street West, Toronto, Ontario, M5H 4H1

1. Election of Directors		FOR	AGAINST
a)	Nicolas Bonta	☐	☐
b)	Andres Finkielsztain	☐	☐
c)	Emiliano Joel Grodzki	☐	☐
d)	Edith M. Hofmeister	☐	☐
e)	Brian Howlett	☐	☐
f)	Geoffrey Morphy	☐	☐

2. Appointment of Auditor		FOR	WITHHOLD

Appointment of PricewaterhouseCoopers LLP as Auditor of the Corporation for the ensuing year and authorizing the Directors to fix their remuneration.		☐	☐

3. Approval of Consolidation		FOR	AGAINST

To consider and, if deemed advisable, pass a special resolution approving an amendment to the Articles of the Corporation for the future consolidation of the Corporation's issued and outstanding common shares on the basis of one (1) post-consolidation common share for up to ten (10) pre- consolidation common shares, if, and at such time following the date of the Meeting, as may be determined by the board of directors in its sole discretion.		☐	☐

	The undersigned hereby appoints Geoffrey Morphy, whom failing Nicolas Bonta (the “Management Nominees”), or instead of any of them, the following Appointee

	as proxyholder on behalf of the undersigned with the power of substitution to attend, act and vote for and on behalf of the undersigned in respect of all matters that may properly come before the Meeting and at any adjournment(s) or postponement(s) thereof, to the same extent and with the same power as if the undersigned were personally present at the said Meeting or such adjournment(s) or postponement(s) thereof in accordance with voting instructions, if any, provided below.


*PLEASE PRINT NAME*		*Signature of registered owner(s) Date (MM/DD/YYYY)*


	*Please print appointee name*