Bitfarms Ltd. — Regulatory Filings 2021

Aug 12, 2021

UNDERTAKING

DATE: August 12, 2021

TO: Ontario Securities Commission

AND TO: ALBERTA SECURITIES COMMISSION FINANCIAL AND CONSUMER AFFAIRS AUTHORITY OF SASKATCHEWAN MANITOBA SECURITIES COMMISSION BRITISH COLUMBIA SECURITIES COMMISSION QUÉBEC AUTORITÉ DES MARCHES FINANCIERS FINANCIAL AND CONSUMER SERVICES COMMISSION (NEW BRUNSWICK) NOVA SCOTIA SECURITIES COMMISSION OFFICE OF THE SUPERINTENDENT OF SECURITIES (PRINCE EDWARD ISLAND) OFFICE OF THE SUPERINTENDENT OF SECURITIES (NEWFOUNDLAND AND LABRADOR) OFFICE OF THE YUKON SUPERINTENDENT OF SECURITIES OFFICE OF THE SUPERINTENDENT OF SECURITIES (NORTHWEST TERRITORIES) OFFICE OF THE SUPERINTENDENT OF SECURITIES (NUNAVUT)

RE: Bitfarms Ltd. (the “Issuer”) Short form base shelf prospectus ( the “Prospectus”) SEDAR Project #3186538

In connection with the filing of the Prospectus dated August 12, 2021 and in accordance with Section 4.2(a)(x) and (x.1) of NI 44-101 – Short Form Prospectus Distributions (“ NI 44-101 ”), the undersigned, for and on behalf of the Issuer, undertakes that the Issuer will:

1. file any agreement, contract or material contract referred to in section 4.2(a)(iii) or (iii.1) of NI 44-101, as applicable, which not been executed before the filing of the final Prospectus but will be executed on or before the completion of the distribution and which has not been previously filed, promptly and in any event no later than seven days after the execution of the agreement, contract or material contract; and

2. file any document referred to in section 4.2(a)(iii) of NI 44-101 which does not need to be executed in order to become effective and has not become effective before the filing of the final Prospectus, but will become effective on or before the completion of the distribution, promptly and in any event no later than seven days after the document becomes effective.

[ REMAINDER OF PAGE HAS INTENTIONALLY BEEN LEFT BLANK ]

[ Bitfarms Ltd. – Undertaking re material contracts and documents affecting the rights of securityholders ]

Dated this 12[th] day of August, 2021.

BITFARMS LTD.

per: (signed) “ Jeffrey Lucas ” Name: Jeffrey Lucas Title: Chief Financial Officer

[ Bitfarms Ltd. – Undertaking re material contracts and documents affecting the rights of securityholders ]