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

2.11

Mkt cap

Volume

40M

High

2.27

P/E Ratio

-6.25

52-wk high

3.91

Low

2.11

Div yield

N/A

52-wk low

1.01

Bitfarms has announced the termination of CEO Geoffrey Morphy and is nearing the completion of its search for a new CEO. The company, which is listed on both the NASDAQ and TSX under the symbols BITF and TSX:BITF respectively, is in the process of leadership transition.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 11:02 am

Bitfarms has announced the rescheduling of its Q1 earnings report and conference call to May 15th at 8:00 a.m. ET.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 11:01 am

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 7:57 pm

Northland Capital Markets has initiated coverage on Bitfarms (NASDAQ:BITF) with an Outperform rating and set a price target of $4.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 5:27 pm

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 3:14 pm

Peter Schiff, a known crypto skeptic, questioned the bullish $100K Bitcoin prediction, highlighting the bearish trends in crypto-linked stocks like Coinbase, Galaxy Digital, MicroStrategy, Valkyrie Bitcoin Miners ETF, Marathon Digital, Bitfarms, and HIVE Digital. Despite Bitcoin's recovery attempts, these stocks have seen significant declines from their recent highs. Schiff contrasts this with the broader market's pullback and the rise in traditional safe havens like gold, suggesting investors might reconsider their crypto investments.

Portfolio Pulse from Shanthi Rexaline

April 16, 2024 | 10:05 am

Bitfarms announced it has achieved a mining capacity of 7 EH/s following the upgrade of its fleet at the Garlock and Farnham facilities, with the installation of 3,168 T21s at Garlock and 1,710 T21s plus 100 M53S+ hydro miners at Farnham. Additionally, over 30,000 T21s are expected to be delivered in Q2 2024 to various locations, including a new development in Paso Pe, Paraguay.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:06 am

A JPMorgan analyst noted Bitcoin's price soared to $67,600 in March, with mining profitability improving as the hash rate reached 600 EH/s, up 80% year-over-year. Marathon Digital Holdings, CleanSpark, Cipher Mining, Wulf Mining, and Bitfarms were highlighted for their market cap and performance. CleanSpark outperformed Bitcoin's return, with Marathon having the highest reported hash rate. The upcoming Bitcoin halving event is expected to cause volatility in stock performance.

Portfolio Pulse from Murtuza Merchant

April 01, 2024 | 7:16 pm

Bitfarms Ltd (NASDAQ:BITF) shares are trading higher after the company released a production and operations update for March, reporting it mined 286 bitcoin, a decrease from previous months, but increased its total bitcoin holdings to 806. The company also announced the purchase of additional miners to reach a target of 21 EH/s by year-end, aiming for greater operating efficiency.

Portfolio Pulse from Adam Eckert

April 01, 2024 | 12:51 pm

Cantor Fitzgerald analyst Josh Siegler has reiterated an Overweight rating on Bitfarms (NASDAQ:BITF) and maintained a $4 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 12:41 pm

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