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

Torrid Holdings Inc. reported better-than-expected Q3 results and raised FY23 guidance, causing its shares to jump 22.3%. MBIA Inc. declared an $8.00 per share extraordinary dividend, leading to a 63.8% share increase. Other stocks like ALX Oncology, Virco Mfg., and Bitfarms also saw significant gains after positive upgrades, earnings reports, and corporate actions.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 3:40 pm

U.S. stock futures are down, with Dow Jones futures dropping over 40 points. Merit Medical Systems (MMSI) shares fell 3.8% in pre-market trading due to a proposed private placement of $550 million in convertible senior notes. Other stocks experiencing pre-market losses include Incannex Healthcare (IXHL), Rocket Pharmaceuticals (RCKT), Take-Two Interactive Software (TTWO), Equitable Holdings (EQH), Nokia (NOK), Bitfarms (BITF), and Golden Ocean Group (GOGL).

Portfolio Pulse from Lisa Levin

December 05, 2023 | 10:21 am

Cantor Fitzgerald analyst Josh Siegler has reiterated an Overweight rating on Bitfarms (NASDAQ:BITF) and maintained a $2 price target for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 3:13 pm

Shares of Bitcoin miners CleanSpark Inc (CLSK) and Bitfarms Ltd (BITF) are trading higher due to a rise in Bitcoin's price over the weekend, crossing the $40,000 level. The crypto rally is driven by optimism for a potential spot ETF and expectations of a Federal Reserve rate cut in 2024. Fed Chairman Jerome Powell hinted at a potential slowdown in rate hikes, further fueling the rally. CleanSpark shares rose 22.2% to $9.36, and Bitfarms shares increased 16.3% to $1.94.

Portfolio Pulse from Adam Eckert

December 04, 2023 | 2:52 pm

Shares of crypto-related companies BITF, CAN, and MSTR are trading higher following a weekend increase in Bitcoin's price.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:40 pm

Shares of cryptocurrency-related stocks have risen following a surge in the price of Bitcoin on Monday. Companies with a focus on cryptocurrency operations, such as mining and investment, have seen their stock prices increase in response to Bitcoin's price movement.

Portfolio Pulse from Charles Gross

December 04, 2023 | 10:27 am

CVI Investments has disclosed a 5.7% ownership stake in Bitfarms, a cryptocurrency mining company, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 7:43 pm

Cantor Fitzgerald analyst Josh Siegler has reiterated an Overweight rating on Bitfarms (NASDAQ:BITF) and maintained a $2 price target for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 2:29 pm

Bitfarms Ltd (NASDAQ:BITF), a Bitcoin miner, has seen its shares rise following the announcement of the closing of a private placement with institutional investors, raising C$60 million ($44.13 million). The funds will be used to acquire additional miners, expand infrastructure, and improve working capital. This follows Bitfarms' recent purchase of 35,888 Bitmain T21 miners and securing an option for 28,000 more. The company's shares increased by 8.96% to $1.46 after a 26% rise on Tuesday.

Portfolio Pulse from Adam Eckert

November 29, 2023 | 2:18 pm

Analysts have rated Bitfarms (NASDAQ:BITF) with 2 bullish and 4 somewhat bullish ratings in the last quarter. The average 12-month price target for BITF is $2.83, with a high of $4.00 and a low of $2.00, representing a 5.67% decrease from the previous target of $3.00. These ratings suggest a generally positive outlook from analysts.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 1:00 pm

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