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 (NASDAQ:BITF) reported a Q4 EPS loss of $(0.19), significantly missing the analyst consensus estimate of $(0.03) by 533.33%.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 12:28 pm

Bitfarms announced its 2024 plan aiming to triple its hashrate to 21 EH/s, increase its operating capacity by at least 63% to 391 MW, and enhance its fleet efficiency by 34% to 23 w/TH.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 12:21 pm

Bitfarms announced its earnings of 1,236 BTC in Q4 2023 and a total of 4,928 BTC for the entire year of 2023. This showcases the company's operational success and growth in the cryptocurrency mining sector.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 12:19 pm

Bitfarms (NASDAQ:BITF) reported Q4 sales of $46.24M, surpassing the analyst consensus estimate of $43.08M by 7.34% and marking a 71.02% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 12:17 pm

Numerous companies are scheduled to report their quarterly earnings on March 7, 2024, with a mix of projected earnings and losses across various sectors. Notable mentions include CI&T, Stevanato Gr, ABM Industries, Bilibili, BJ's Wholesale Club, Burlington Stores, and many others, indicating a significant day for investors to monitor potential market movements.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 9:49 am

Bitfarms (NASDAQ:BITF) is scheduled to release its quarterly earnings report on March 7, 2024, with analysts expecting an EPS of $-0.03. The company's past earnings performance shows a pattern of not meeting EPS estimates, leading to subsequent drops in share price. Shares of Bitfarms have risen 254.19% over the last 52 weeks, trading at $2.49 as of March 5. Investors are advised to pay attention to the company's guidance for future growth, which can significantly impact stock price.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 4:02 pm

Super Micro Computer, Inc. (SMCI) and Deckers Outdoor Corporation (DECK) are set to join the S&P 500, replacing Zions Bancorporation (ZION). In pre-market trading, SMCI shares surged 13.4%, while DECK shares rose 7.1%. Other notable movers include BitFuFu Inc. (FUFU) with a 173% jump after completing a business combination, and Macy's, Inc. (M) climbing 13.3% following an elevated bid from Arkhouse & Brigade Capital. The overall U.S. stock futures were mixed.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 10:01 am

Bitfarms reported earning 300 BTC in February 2024, resulting in total proceeds of $15.1 million.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 12:07 pm

Bitcoin mining stocks, including Marathon Digital Holdings, Inc. (MARA), Bitfarms Ltd. (BITF), Cleanspark, Inc. (CLSK), and Riot Platforms, Inc. (RIOT), are experiencing a pullback following a recent rally. The downturn is partly attributed to Marathon Digital's mixed Q4 results and a cooling Bitcoin rally. Despite the mixed results, HC Wainwright & Co. maintained a Buy rating on MARA, raising the price target from $24 to $35.

Portfolio Pulse from Erica Kollmann

February 29, 2024 | 6:57 pm

Bitcoin mining stocks such as Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), CleanSpark Inc (CLSK), Hut 8 Corp (HUT), HIVE Digital Technologies Ltd (HIVE), Bit Digital Inc (BTBT), and Bitfarms Ltd (BITF) are experiencing gains due to the continued rise in Bitcoin's price, which recently surpassed $60,000. This surge is attributed to increased demand following the approval of spot ETFs and anticipation of the upcoming halving event in April. CleanSpark's recent strong earnings report and the upcoming earnings reports from other miners are also contributing factors.

Portfolio Pulse from Adam Eckert

February 28, 2024 | 2:16 pm

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