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 entered a hosting agreement with Stronghold Digital Mining to deploy 10,000 Bitmain T21 miners at the Panther Creek site, aiming to bring 2.2 EH/s online by October 2024. The company reaffirms its 2024 and 2025 guidance of 21 EH/s and 35+ EH/s.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2024 | 2:25 pm

Shares of crypto companies are experiencing an uptick as Bitcoin prices rise.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 4:18 pm

Bitfarms has formed a special committee to engage with Riot Platforms in an effort to resolve an amended requisition. This indicates ongoing discussions between the two companies, potentially impacting their operations and strategies.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 10:20 am

Bitfarms has rescheduled its Special Meeting of Shareholders to November 6, 2024, to allow more time for reviewing Riot's Amended Requisition. The company is seeking a settlement with Riot to avoid a costly proxy contest, proposing a board expansion and other terms.

Portfolio Pulse from Benzinga Newsdesk

September 09, 2024 | 10:17 am

Shares of crypto companies are trading lower as Bitcoin's price declines, potentially influenced by mixed economic data affecting rate cut expectations.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2024 | 4:53 pm

Cantor Fitzgerald analyst Brett Knoblauch has reiterated an Overweight rating on Bitfarms (NASDAQ:BITF) and maintained a $5 price target.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 4:21 pm

Crypto-linked stocks are experiencing a decline as Bitcoin prices drop. This is influenced by economic contraction signals from August's ISM Manufacturing PMI data and anticipation of non-farm payrolls data, which could impact future rate cuts.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 3:59 pm

Bitfarms Ltd (NASDAQ:BITF) shares are trading lower after the company reported a decrease in Bitcoin production for August compared to July and the previous year. Riot Platforms Inc (NASDAQ:RIOT) has proposed new board nominees for Bitfarms ahead of a special shareholder meeting.

Portfolio Pulse from Adam Eckert

September 03, 2024 | 12:59 pm

Bitfarms reported a decrease in Bitcoin mining output, generating 233 BTC in August compared to 253 BTC in July.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 11:18 am

Riot Platforms, Inc. (NASDAQ:RIOT) is pushing for changes in Bitfarms Ltd.'s board due to governance issues. Riot, owning 19.9% of Bitfarms, criticizes recent board changes and the proposed acquisition of Stronghold Digital Mining, citing concerns over governance and shareholder interests.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 10:50 am

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.