Social
We are committed to creating positive economic impacts in the communities where we operate. This includes job creation, supporting local businesses, and contributing to regional economic development.
Our Environmental and Social Responsibility Committee is responsible for assisting the Board in overseeing programs, policies, and practices relating to health and safety, environmental sustainability, and corporate social responsibility.
Employees
Talent attraction and retention programs and policies
Talent Pipeline
We invest in our future early-career talent pipeline through various local trade school outreach programs, intern programs, partnerships with local schools, and community outreach programs at our Sherbrooke, Quebec and Buenos Aires, Argentina locations. In 2023, two students interned at Bitfarms from a technical school in Rio Cuarto, Argentina.
Benefits and Other Perks
In addition to cash compensation such as salary and bonuses, we are also committed to offering competitive benefits relevant in the locations where we operate. Benefits include health, wellness program, and other programs aimed at supporting employees and their dependents inside and outside of work with medical, mental health, and other wellness related initiatives.
Equitable Compensation
At Bitfarms, we are committed to keeping up to date with market trends and ensuring total compensation is competitive within the local markets where we operate. We comply with Pay Equity legislation in the jurisdictions in which we operate in terms of maintaining pay equity records and reporting, as well as applicable communications and statements.
All salary ranges are based on data related to the economic and geographical aspects of the countries, and specific regions where employees are based.
The compensation data used for these purposes comes from multiple external market research data points and considers several factors, including the sector of activity, revenue, region of operations and the number of employees in the comparison companies. Bitfarms periodically collects a variety of purchased market compensation reports and may also work with external firms in the collection and analysis of compensation data.
The overall salary structure is indexed periodically according to inflation or a similar parameter which reflects the cost of living, and salary ranges get adjusted accordingly.
Employee Engagement
In 2024, we conducted a formal engagement survey to gain insights into how our employees think and feel about our company and how we may in turn address opportunities to improve the employee experience.
The survey addressed topics of work satisfaction, resource management, leadership and management, and employee wellness. Our employees' anonymity was assured to encourage honest and open feedback. We received an average score of 81% positive.
Career Development Initiatives
In the city of Sherbrooke (Quebec, Canada), where we operate three farms, we have established a mentoring and internship program with the local Centre de Formation professional whereby over nine graduates from this program have become Bitfarms' employees and benefited from targeted professional and technical training under the supervision of our experienced technicians.
Diversity, Equity, and Inclusion (DEI) programs and policies
At Bitfarms, we recognize the benefits of valuing diversity among our employees, management team and the Board of Directors to enhance organizational strength, problem solving ability and opportunity for innovation.
Additional details can be found in our diversity policy.
In 2024, we conducted our first DEI survey to gain insights into how best to support our employees and advance an inclusive culture.
Employee health and safety
All employees, vendors, contractors, and subcontractors are expected to exhibit behaviors in line with Bitfarms values that promote a safe, healthy, and engaging work environment.
Programs and processes to manage and mitigate issues of human rights
At Bitfarms, we strive to ensure that our business is conducted in all material respects in accordance with all applicable laws, stock exchange rules, and securities rules and regulations in all jurisdictions where we operate. This includes compliance with labor and human rights laws.
We conduct annual trainings on labor rights and safety.
Additional details can be found in our fighting against forced labour and child labour in supply chains policy.
Community engagement and philanthropy
We actively engage with local stakeholders, ensuring that our operations align with community interests and support local development initiatives.
Employee-led community engagement
We are focused on creating a safe working environment for our employees while also giving back to the communities around our farms. Through our Sponsorship Policy, we aim to promote employee and community engagement through financial contribution in non-work-related events which are aligned with our values, and as such provide revenue to the communities which can in turn be used for social programs in the communities where Bitfarms operates. The donations may take the form of strategic annual lump sum or material donations to the community, sponsorship of corporate or sportive events of Bitfarms employees or their dependents.
Furthermore, we contribute to the growth of many local businesses and sportive teams through sponsorships, such as hockey in the city of Baie-Comeau (Quebec, Canada), and the professional soccer team in the city of Villarrica (Paraguay).