Coinciding with its website traffic stalling, BitHarvest has launched two low-effort spinoff Ponzis.

As tracked by SimilarWeb for February 2025, BitHarvest’s website traffic grew only 3%. This isn’t an overall decline but for context, traffic was up 24% the month prior.

We won’t know whether BitHarvest’s website traffic declined this month till next month.

In any event, BitHarvest has rushed out two spinoff Ponzis in an attempt to trap as much money in the system.

On or around March 22nd, BitHarvest announced the launch of BitBull and BitFarming.

BitFarming is a simple staking Ponzi:

There’s no attempt at a ruse, it’s just bitcoin in and the promise of up to “10x” over 15 days (1000%).

BitBull is… well, see for yourself:

BitHarvest
is an MLM crypto Ponzi fronted by Boris CEO Logan Lee.

Lee is played by Steve Ng, a Singaporean national and Prudential insurance agent:

BitHarvest’s primary Ponzi ruse is a magical USB device that increases mining hardware efficiency. A secondary ruse is
crypto mining in Texas
, which ties the scam to Jaz Pee (aka Wei Haw Pee).

As of February 2024, 62% of BitHarvest’s 655,000 monthly website visits originated from the US.  California’s DFPI issued a
BitHarvest fraud desist and refrain order
in October 2024.

Ukraine was the next largest source of BitHarvest website traffic at 12%. The Central Bank of Russia issued a
BitHarvest pyramid fraud warning
in February 2025.

When exactly BitHarvest will collapse is impossible to predict but declining website traffic and low-effort Ponzi spinoffs present a predictable trajectory.

Update 12th September 2025 – 
Steve Ng’s Prudential insurance agent bio page has been deleted from Prudential’s website.

Update 21st November 2025 – 
BitHarvest has
collapsed
.

🤖 Quick Answer

What are BitBull and BitFarming?
BitBull and BitFarming are cryptocurrency investment schemes launched by BitHarvest in March 2025 as spinoff projects. BitFarming operates as a staking Ponzi offering returns up to 10x in 15 days, requiring bitcoin deposits. BitBull represents another investment vehicle within the same ecosystem.

Why did BitHarvest launch these spinoff projects?
BitHarvest launched BitBull and BitFarming in response to declining website traffic growth, which fell to 3% in February 2025 from 24% the previous month. These spinoffs were designed to attract new capital and retain existing funds within the BitHarvest ecosystem.

What business model does BitFarming employ?
BitFarming operates as a staking Ponzi scheme without sophisticated disguise. It requires users to deposit bitcoin

🔗 Related Articles

- Arkbit & ABC Holdings securities fraud C&D from Texas
- Beurax Review: Daily returns crypto trading Ponzi
- Avlitex securities fraud warning from Canada (ON)
- Avlitex trading fraud warning from Belgium
- TrageTech Ponzi scheme collapses, website gone