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

Wall Street analysts have updated their price targets and ratings for several US-listed companies. Piper Sandler raised Workday's target and maintained an Overweight rating. Keybanc increased CrowdStrike's target and kept an Overweight rating. Raymond James cut argenx's target but kept a Strong Buy rating. Barclays raised Micron's target with an Overweight rating. HC Wainwright lifted Bitfarms' target and maintained a Buy rating. Telsey Advisory cut Leslie's target and kept a Market Perform rating. Jefferies lowered Airbnb's target and downgraded to Hold. Piper Sandler reduced Hershey's target and downgraded to Neutral. JP Morgan trimmed AvalonBay's target but upgraded to Neutral. Barclays increased NetApp's target with an Equal-Weight rating.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 12:46 pm

HC Wainwright & Co. analyst Kevin Dede has reaffirmed a Buy rating on Bitfarms (NASDAQ:BITF) and increased the price target from $3 to $4.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 11:10 am

Bitfarms has completed a private placement, raising C$60 million from U.S. institutional investors. The deal included the sale of 44,444,446 common shares and warrants for an additional 22,222,223 shares at C$1.35 per share and C$1.61 per warrant, respectively. The warrants are exercisable for three years.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 6:59 am

SenesTech, Inc. (NASDAQ:SNES) shares plummeted by approximately 50% after announcing the pricing of a $5.0 million public offering at $1.30 per share with additional warrants. The stock dropped to $0.9189. Other stocks experienced significant movements, with gainers including IceCure Medical Ltd (ICCM), RedHill Biopharma Ltd. (RDHL), and HNR Acquisition Corp (HNRA), among others. Losers included Tharimmune, Inc. (THAR), Cabaletta Bio, Inc. (CABA), and Acelyrin, Inc. (SLRN), with Tharimmune's shares falling sharply after pricing its public offering at $1 per share.

Portfolio Pulse from Lisa Levin

November 28, 2023 | 7:44 pm

Bitfarms Ltd (NASDAQ:BITF), a Bitcoin miner, saw its stock price rise after announcing the purchase of 35,888 Bitmain T21 miners for delivery and installation in the first half of 2024. The company has secured liquidity for the purchase and an option for an additional 28,000 miners. The upgrade is part of a strategy to reach 17 EH/s by H2 2024, with hardware secured for 21 EH/s. A conference call to discuss the fleet upgrade plans is scheduled for Tuesday at 8:30 a.m. ET. Bitfarms shares were up 16% Tuesday morning at $1.23.

Portfolio Pulse from Adam Eckert

November 28, 2023 | 1:45 pm

Bitfarms has placed an order for 35,888 Bitmain T21 miners at a cost of $2,660 each, with deliveries scheduled between March and May 2024. This investment in mining hardware is a significant step for the company, indicating a commitment to expanding its mining capabilities over the next year.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 9:13 pm

FLJ Group Limited's stock soared by 96.4% after announcing an agreement to acquire Alpha Mind Technology. Other stocks also saw significant movements in Friday's mid-day session, with Versus Systems Inc. leading the gainers after a strategic investment from Cronus Equity Capital Group. iRobot Corporation's stock rose due to Amazon's proposed acquisition nearing EU antitrust approval. iClick Interactive Asia Group Limited climbed after a merger deal. On the losers' side, LQR House Inc. dropped after receiving a Nasdaq delisting determination, and Impel Pharmaceuticals Inc. dipped following a recent surge.

Portfolio Pulse from Lisa Levin

November 24, 2023 | 5:21 pm

U.S. stocks showed mixed performance with the Dow Jones gaining, while the NASDAQ and S&P 500 fell slightly. Energy shares surged, but communication services shares declined. The U.S. services PMI rose to 50.8, indicating expansion. FLJ Group announced an acquisition agreement, boosting its shares by 68%. iRobot shares increased by 33% as Amazon's acquisition is close to EU approval. iClick Interactive also rose after a merger deal. Conversely, Impel Pharmaceuticals, Cuentas, and Bitfarms shares fell following various company-specific news. Oil prices edged lower, while gold and silver rose.

Portfolio Pulse from Lisa Levin

November 24, 2023 | 4:56 pm

Major crypto miners are preparing for the Bitcoin halving event in April 2024 by focusing on capital reserves, fleet efficiency, and the use of stranded energy. At Benzinga's Future of Digital Assets event, executives from SATO Technologies, Bitfarms, and Bitdeer Technologies Group discussed strategies to mitigate the halving's impact. They emphasized the importance of sustainable energy sources, geographical diversification, and the role of institutional investors in mining. The industry is also committed to environmental sustainability by leveraging and creating renewable energy resources.

Portfolio Pulse from Murtuza Merchant

November 24, 2023 | 3:40 pm

Bitfarms Ltd. (BITF) shares dropped 9.9% after announcing a C$60 million private placement. Other stocks also moved lower: GDEV Inc. (GDEV) fell 11.7% post Q3 sales decline, Allego N.V. (ALLG) dropped 7.8% after a Q3 loss, Gracell Biotechnologies Inc. (GRCL) declined 6% with a narrower-than-expected loss, Intchains Group Limited (ICG) fell 5.6%, and CEMIG (CIG) decreased 5.5% following a downgrade by B of A Securities.

Portfolio Pulse from Lisa Levin

November 24, 2023 | 3:21 pm

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