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

Bitfarms has reaffirmed its year-end 2024 guidance, aiming to achieve a hash rate of 21 EH/s and an energy efficiency of 21 w/TH. This announcement underscores the company's commitment to enhancing its mining capabilities and operational efficiency.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:05 am

Bitfarms announces a CEO transition. Geoffrey Morphy, the current President, CEO, and Director, will be leaving the company after the completion of an executive search. Morphy will continue to lead Bitfarms during the interim period.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:04 am

Crypto-related stocks such as BITF, COIN, MARA, MSTR, and RIOT are trading lower due to a decline in Bitcoin's value.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 7:11 pm

Crypto-related stocks are trading lower due to a decline in Bitcoin's value. This includes companies like BITF, BKKT, BTDR, CAN, CIFR, CLSK, COIN, HUT, MARA, RIOT, SDIG, and WULF.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 3:47 pm

HC Wainwright & Co. analyst Kevin Dede reiterates a Buy rating on Bitfarms (NASDAQ:BITF) and maintains a $4 price target.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 11:12 am

Bitfarms announced a $375 million at-the-market equity program, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:33 pm

U.S. stocks were lower on Monday, with the Dow Jones index falling over 150 points. EQT Corporation's shares dropped 8.4% after announcing a merger with Equitrans Midstream. Other notable declines include Ventyx Biosciences, MoneyLion Inc., Genie Energy Ltd., and several others, each falling due to various company-specific news such as clinical data reports, quarterly results, and strategic updates.

Portfolio Pulse from Avi Kapoor

March 11, 2024 | 2:37 pm

Bitfarms Ltd. (BITF) has announced the purchase of additional miners to reach a mining capacity of 21 EH/s in 2024. The company fully exercised a purchase option for 28,000 Bitmain T21 miners and bought an additional 19,280 Bitmain T21 miners, 3,888 Bitmain S21 miners, and 740 Bitmain S21 Hydro miners. These acquisitions are part of Bitfarms' expansion plan, aiming to operate one of the newest and most powerful mining fleets in anticipation of a bull market. The company plans to liquidate older miners to offset the cost of new ones and aims to improve hashrate, energy efficiency, and operating costs per terahash.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:11 pm

Cantor Fitzgerald analyst Josh Siegler maintains an Overweight rating on Bitfarms (NASDAQ:BITF) and raises the price target from $3 to $4.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 5:05 pm

HC Wainwright & Co. analyst Kevin Dede has reiterated a Buy rating on Bitfarms (NASDAQ:BITF) and maintained a $4 price target.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 11:36 am

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