BITF
BitfarmsBITF
BITF
About: Bitfarms Ltd engaged in the cryptocurrency Mining industry mainly consists of selling its computational power used for hashing calculations for cryptocurrency mining in multiple jurisdictions. Its geographic operations are currently located in Canada, the United States, Argentina, and Paraguay. It owns and operates server farms comprised of computers designed to validate transactions on the Bitcoin Blockchain.
Employees: 170
0
Funds holding %
of 6,831 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
95% more call options, than puts
Call options by funds: $16.3M | Put options by funds: $8.4M
67% more first-time investments, than exits
New positions opened: 30 | Existing positions closed: 18
8% more funds holding
Funds holding: 133 [Q2] → 143 (+10) [Q3]
5.22% less ownership
Funds ownership: 21.44% [Q2] → 16.22% (-5.22%) [Q3]
30% less capital invested
Capital invested by funds: $220M [Q2] → $155M (-$65.2M) [Q3]
38% less repeat investments, than reductions
Existing positions increased: 29 | Existing positions reduced: 47
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$4
176%
upside
Avg. target
$5
245%
upside
High target
$6
314%
upside
2 analyst ratings
2 positive
100%
0 neutral
0%
0 negative
0%
Alliance Global Partners Brian Kinstlinger 57% 1-year accuracy 12 / 21 met price target | 314%upside $6 | Buy Initiated | 4 Dec 2024 |
HC Wainwright & Co. Mike Colonnese 49% 1-year accuracy 31 / 63 met price target | 176%upside $4 | Buy Reiterated | 14 Nov 2024 |
Financial journalist opinion
Based on 8 articles about BITF published over the past 30 days
Positive
Reuters
1 day ago
Canadian bitcoin miner Bitfarms mulls pivot to AI data centers
Toronto-based bitcoin miner Bitfarms has enlisted two consultants to explore how it can transform some of its facilities to meet the growing demand for artificial intelligence data centers, it said on Friday.
Neutral
GlobeNewsWire
1 day ago
Bitfarms Engages Strategic Partners to Develop HPC/AI Business
-Engages expert consultants ASG & World Wide Technology- TORONTO, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin and vertically integrated data center company, today announced it has engaged two expert consultants in HPC strategy and artificial intelligence (“AI”), Appleby Strategy Group (“ASG”) and World Wide Technology (“WWT”), to conduct a comprehensive feasibility analysis on all its North American sites and advise on its global HPC/AI strategy.
Neutral
GlobeNewsWire
4 days ago
Bitfarms Enters into a Binding LOI with HIVE Digital Technologies for the Sale of its Yguazu, Paraguay Site
-Bitfarms to reinvest capital in US growth opportunities- -Accretive transaction values the completed site at ~$85 million and significantly reduces anticipated 2025 capital requirements- -Rebalances YE 2025 proforma energy portfolio to ~80% North American & 20% international- -Reduces expected average power costs by ~10%- This news release constitutes a “designated news release” for the purposes of Bitfarms' second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd.
Positive
Zacks Investment Research
1 week ago
Bitfarms (BITF) Upgraded to Strong Buy: Here's What You Should Know
Bitfarms (BITF) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Negative
Investors Business Daily
3 weeks ago
Bitcoin ETF Outflows Gather Steam As Bitcoin Falls Near $90,000; Are Crypto ETFs A Sell Now?
Crypto ETFs rallied as Bitcoin hit a $108,000 milestone in December but have fallen with the digital asset in 2025. The post Bitcoin ETF Outflows Gather Steam As Bitcoin Falls Near $90,000; Are Crypto ETFs A Sell Now?
Negative
Investors Business Daily
3 weeks ago
Bitcoin ETF Outflows Gather Steam As Bitcoin Falls Near $90,000; Are Crypto ETFs A Sell Now?
Crypto ETFs rallied as Bitcoin hit a $108,000 milestone in December but have fallen with the digital asset in 2025. The post Bitcoin ETF Outflows Gather Steam As Bitcoin Falls Near $90,000; Are Crypto ETFs A Sell Now?
Neutral
GlobeNewsWire
3 weeks ago
Bitfarms to Present at Needham Growth Conference in NYC
TORONTO, Ontario and BROSSARD, Québec, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF) (“Bitfarms”), a global vertically integrated Bitcoin data center company, will be attending Needham's 27th Annual Growth Conference, taking place from January 14-15th in New York City. Bitfarms CEO Ben Gagnon, CFO Jeff Lucas, and SVP IR & Corp. Comms. Tracy Krumme will be conducting investor meetings with a presentation at the following time:
Neutral
GlobeNewsWire
4 weeks ago
Bitfarms Provides December 2024 Production and Operations Update
- Increased hashrate 97% Y/Y to 12.8 EH/s - - Improved efficiency 40% Y/Y to 21 w/TH -- Earned 2,914 BTC for full-year 2024 -- Expanded operational MW 35% Y/Y to 324MW -- Acquisition of Stronghold Digital Mining on track to close in Q1 2025 -
Neutral
GlobeNewsWire
1 month ago
Bitfarms Files Second Amended and Restated Prospectus Supplement for its Existing At-the-Market Equity Offering Program
This news release constitutes a “designated news release” for the purposes of the Company's second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023. TORONTO, Ontario and BROSSARD, Québec, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd.
Neutral
GlobeNewsWire
1 month ago
Bitfarms Announces Restatement of Previously Issued Financial Statements
This news release constitutes a “designated news release” for the purposes of the Company's amended and restated prospectus supplement dated October 4, 2024, to its short form base shelf prospectus dated November 10, 2023.
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