Streetbeat News

BITF

Bitfarms Ltd.

https://www.bitfarms.com

Industry

Financial - Capital Markets

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in North America. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada. It also undertakes hosting of third-party mining hardware. The company was founded in 2017 and is headquartered in Toronto, Canada.

Open

2.19

Mkt cap

Volume

41M

High

2.28

P/E Ratio

-5.92

52-wk high

3.91

Low

2.10

Div yield

N/A

52-wk low

1.01

Bitfarms remains independent after settling with Riot, stabilizing its leadership team. Q3 results showed 8% revenue growth, but increased costs per BTC due to April's halving and higher energy expenses. The company raised $240M YTD through share sales, with liquidity at $145M, but continued share dilution is expected to fund operations.

Portfolio Pulse from

November 14, 2024 | 1:45 pm

Bitfarms Ltd. (BITF) held its Q3 2024 earnings conference call, discussing financial performance and company updates.

Portfolio Pulse from

November 13, 2024 | 7:30 pm

Bitfarms Ltd. (BITF) reported a Q3 loss of $0.09 per share, which was better than the Zacks Consensus Estimate of a $0.12 loss. The company also exceeded revenue expectations.

Portfolio Pulse from

November 13, 2024 | 2:45 pm

Bitfarms Ltd. has rescheduled its Q3 2024 financial results conference call to November 13th, 2024. The results will be reported before the market opens, and a conference call will be held at 8:00 am EST.

Portfolio Pulse from

November 11, 2024 | 9:30 pm

Bitfarms Ltd. (BITF) experienced a slight decline in its stock price, closing at $2.24, which is a 0.44% decrease from the previous day, despite overall market gains.

Portfolio Pulse from

November 09, 2024 | 12:30 am

Analysts predict that Bitfarms Ltd. (BITF) will report a decline in earnings, lacking the necessary factors for an earnings beat in its upcoming report.

Portfolio Pulse from

November 05, 2024 | 4:30 pm

Bitfarms reported earning 236 BTC in October, a 9% increase month-over-month but a 41% decrease year-over-year. The company saw a 3% increase in average operating efficiency and an 8% increase in Bitcoin difficulty. Their operational capacity reached 11.5 EH/s, up 83% year-over-year.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2024 | 11:02 am

Shares of crypto-related companies are trading lower in sympathy with Coinbase, potentially due to a drop in Bitcoin prices.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 7:52 pm

Bitfarms, through a subsidiary, has entered a second miner hosting agreement with Stronghold Digital Mining at Stronghold's Scrubgrass site in Pennsylvania. This follows an initial agreement for 10,000 miners announced in September, supporting 2.2 EH/s.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2024 | 11:25 am

Bitcoin miners and crypto-linked stocks are experiencing a surge as Bitcoin's price surpasses $70,000.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 4:01 pm

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