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

1B

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

B. Riley Securities has maintained its Buy rating on Bitfarms (NASDAQ:BITF) but lowered the price target from $4 to $3.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 4:57 pm

Arcutis Biotherapeutics (NASDAQ:ARQT) shares surged 29% in pre-market trading after reporting better-than-expected Q1 earnings and sales. Other notable pre-market movers include Faraday Future Intelligent Electric (NASDAQ:FFIE), Sintx Technologies (NASDAQ:SINT), and Dolphin Entertainment (NASDAQ:DLPN) among gainers, while Virpax Pharmaceuticals (NASDAQ:VRPX) and Bolt Biotherapeutics (NASDAQ:BOLT) led the decliners.

Portfolio Pulse from Avi Kapoor

May 15, 2024 | 12:14 pm

Bitfarms announced that it is on track to achieve its guidance of 21 EH/s and 21 w/TH in 2024.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 11:02 am

Bitfarms reported its Q1 2024 financial results, with a GAAP EPS of $(0.02), missing the $(0.01) estimate. Sales were $50.317 million, falling short of the $64.811 million estimate.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 11:01 am

Bitfarms has announced the doubling of its Yguazu power capacity to 200 MW by adding an additional 100 MW of hydropower in Paraguay. This expansion is aimed at enhancing the company's cryptocurrency mining operations by leveraging renewable energy sources.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 11:01 am

Bitfarms Ltd (NASDAQ:BITF), a Bitcoin mining company, announced the termination of its CEO, Geoffrey Morphy, who has filed a Statement of Claim against the company for damages amounting to $27 million. Nicolas Bonta has been appointed as interim president and CEO. The company's shares are trading lower, down 6.65% at $1.61. Bitfarms is also set to report its first-quarter financial results on May 15.

Portfolio Pulse from Adam Eckert

May 13, 2024 | 1:53 pm

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

Crypto-related stocks are trading lower due to a flat crypto market and potential impacts from the recent halving on miners.

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

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.