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Bitfarms

Bitfarms Secures C$60 Million in Funding to Bolster OperationsBitfarms secures C$60M investment from U.S. investors, fueling cryptocurrency mining expansion and growth. Bitfarms, a Canadian Bitcoin mining company, has secured a substantial investment of C$60 million. This influx of capital comes from U.S. institutional investors, marking a significant boost for the company’s operations. The funds are earmarked for strategic enhancements, including acquiring additional cryptocurrency miners, expanding infrastructure, and strengthening the company’s working capital. In a strategic move, Bitfarms will issue 44,444,446 common shares, each priced at C$1.35. This issuance also includes warrants for purchasing up to 22,222,223 common shares. Investors can exercise these warrants at C$1.61 (US$1.17) per share over the next three years. This decision is a calculated step towards capitalizing on the company’s current market position and is expected to be concluded by this upcoming Tuesday. Cryptocurrency Resurgence and Bitfarms’ Trajectory This financial milestone aligns with a notable resurgence in the cryptocurrency space. Recent events, such as the arrest and subsequent guilty verdict of Sam Bankman-Fried, the former head of FTX, for misappropriating billions in customer funds, have significantly impacted the market. Despite some delays, the growing anticipation surrounding the U.S. Securities and Exchange Commission’s (SEC) approval of the country’s first spot Bitcoin ETF signals a wave of potentially massive new investments in the sector. The U.S. government’s US$4 billion settlement with the Binance cryptocurrency exchange has also made headlines in another significant development. The exchange’s founder, Changpeng “CZ” Zhao, stepped down as CEO following his guilty plea to charges of anti-money laundering and sanctions violations. Collectively, these events have contributed to fostering greater trust in the crypto space, propelling significant gains in cryptocurrencies like Bitcoin and Ethereum and attracting a diverse range of investors. Bitfarms’ Growth and Market Performance Founded in 2017, Bitfarms has established itself as a global leader in Bitcoin mining. The company prides itself on vertically integrated mining farms and proprietary data analytics systems. With eleven operational farms spread across Canada, the United States, Paraguay, and Argentina, Bitfarms continues expanding its cryptocurrency mining footprint. Bitfarms’ stock (NDAQ, TSX: BITF) recently traded at C$1.58 per share, reflecting an 83.72 percent year-over-year increase. Though trailing Bitcoin’s 133.28 percent return, this performance significantly outpaces the S&P/TSX Composite Index’s -1.12 percent return over the same period.
NASDAQ:BITFLong
by DEXWireNews
Bitfarms pullback before an attempt to go higher As BTC is pointing toward a pullback to the 21-20k area we can reasonably assume bitcoin mining stocks will also correct. NASDAQ:BITF is looking to go to the $.75-.60 support area before gearing up to go higher to $2, the next area of resistance. On the fundamental side the company is one of the stronger miners with one of the highest Bitcoin mined per 1 EH/s metric twitter.com . Just as long as there is no addition share dilution I expect Bitfarms (and other miners) to outperform Bitcoin in a bull market on the run ups.
NASDAQ:BITFLong
by MostlyGood
WULF Long on TeraWulf First one but after this yall be listenin' close up Chart says we will be at $3.62 mid Q2 23' Then $5 something into Q3 after summer she rip to $11.5 Then she dumps to $7 on announcement of merger with Hut8 (USBDC failed vote), retaining the Terawulf brand $7 to $26 After massive stock buyback program followed by announcment of the industries first BTC dividend. then some pull backs cause its healthy or something, Followed by a head spinning run to $55 By 25' (Y/E) #55by25 Ideas simple, Buy 300,000 shares @ $0.783 for a cost of $234,900. Time 1 Y +3Q's Value of holdings at redemption, $16.5M ROI $16,265,100 or like 70xish *This accounting exludes revenue from BTC dividends *This is also a absurd prediction with no basis in fact or reality. *I am not even good at this, just playing around *SATIRE, NOT INVESTING ADVICE OR ANY OTHER TYPE OF ADVICE
NASDAQ:WULFLong
by Not_Super_Diversified
4
BTC Mining: The Overlooked Crypto 10x+ CLSK, MARA, RIOT, BITFBitcoin Mining Companies may be able to do 10x - 50x or even more if BTC trades over 50K in the 2024 halving bull cycle. 2025 LEAP options may offer leveraged returns even beyond generic price action. CLSK is just an example. Multiple opportunities in the space. DYOR 1. Most BTC Mining stocks are multiples away from 2021 all-time highs. 2. Bear market has proven which bitcoin mining companies have strong financial bases. 3. Bear market allowed for companies to implement expansion road map with capital from the 2021 bull market. 4. During Bull market these stocks have volatility normally found in altcoins. Strongest/Largest players in my opinion: Marathon ( MARA ), Riot Platforms ( RIOT ) Highest growth Value in my opinion: Cleanspark (CLSK), Bitfarms ( BITF ) All investments are risky, calculated and managed risks are always required.
NASDAQ:CLSKLong
by SnarkyPuppy
BITF will pump hard (but not yet) - 270 % profitBITF similary to other bitcoin mining stocks has been in a downtrend since 2021. Bitfarms Ltd., founded in 2017 and is one of the top Bitcoin Mining Companies. The price is approaching our buy zone. We expect one more drop to retest lows from 2020 and next the accumulation phase before the explosive move up. RSI on weekly is already pretty oversold but taking into an account bearish sentiment overall, most likely we see one more drop. In our opinion this stock is very undervalued now. Once crypto market starts recovering, we expect this stock to recover fast. Bottom for crypto market may be not far away (Many analysts believe that the bottom on BTC will be around 10k-12k $) therefore accumulating BITF may be a good idea too. Good luck
NASDAQ:BITFLong
by vf_investment
BITF cyclical trade/investment (3-5 years)There a strong probability that the price can break lows $0.28 lows. But buying at these prices unleveraged is still great opportunity. In terms of sentiment on financial blogs and social media, most are wholeheartedly predicting the future demise of this stock. Personally, this exact same mentality surrounding this stock at its highs in terms of how they somehow knew it was underpriced and that it had upside potential. As usual the crowd is often wrong. Always a hard pill to swallow for them... (no bullish sentiment in terms of price action) There's a lot of uncertainty surrounding bitcoin miners and many are not able to keep up with how things are going. The risk are undoubtedly high and reward is EXTREMELY high... If they are able to manage this and survive. Obviously, the need to keep up to date with the crypto market and this stock is needed to determine if the risks are not worth the investment. example -> If something occurs with BITF and they seem to be going the wrong direction and if BTC drops extensively. I highly doubt that though seems like the majority of the pain and washout has been done and those who got burned left and those who survived will thrive. Mostly leaves it how macro develops and when it will allow BTC to thrive.
TSX:BITFLong
by Mecka
BITF trying to break out, possible entry around $3.63BITF could be retesting the breakout right now and then rally higher. I'm keeping an eye on the orange line and the horizontal support at 3.63 as an ideal safer entry. Some other bullish looks are the curving hourly moving averages. As a trade, I can see a tight stop under 3.63 depending on risk tolerance would make this an appealing trade. Just be careful to not get stop raided as it might find support on the bottom of the yellow wedge and reverse. A bearish possibility is a H&S pattern is created and BITF tanks to the support around 3.20. Also the daily indicators are showing overbought conditions, however these can turn quickly in breakouts. Now if it does continue to break out, keep an eye on this wedge as it could spell something bearish later on starting mid April. But if it breaks out of that wedge, I believe a strong rally will happen like in July and November.
NASDAQ:BITF
by Lynxys
BITF BITFARMS (INVERSE H&S PATTERN)Bitfarms Ltd owns and operates blockchain farms that power the global decentralized financial economy. It provides computing power to crypto currency networks such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash, earning fees from each network for securing and processing transactions. The company was founded on October 11 2018 and is headquartered in Toronto Canada. Bitfarms Reports 38% Jump in Q3 Bitcoin Production From Q2; Shares Climb 16% as Digital Currencies Rally Canadian bitcoin mining company, on Friday reported production of 1,050 bitcoin in Q3, up 38% from the previous quarter. The company said it mined 305 bitcoin last month and 2,407 bitcoin since the beginning of the year. Bitfarms said it deposited 2,312 bitcoin, 96% of output, into custody through the end of September, with a total value of $100 million based on a bitcoin price of $43,500. The company said it is regularly boosting its hashrate towards its goals of 3 exahash per second in Q1 and 8 exahash per second by the end of next year. Bitfarms' Nasdaq-listed shares climbed nearly 19% in intraday trading on Friday, and were last up more than 16% as bitcoin's price surged nearly 9% to $47,7209.
NASDAQ:BITFLong
by MavRich_Trading
1
Too high too fast? Will the gaps hurt BITF resumes it's rise to greatness with the application for NASDAQ entry approved. New power contracts, cheap repairs on old units, investment in new miners...provided BTC maintains dominance and the crypto surge continues...this could be a multibagger. @100% now on free riders. Gaps are never good though and last time the chart went wonky it traded sideways for awhile. Good possibility that will occur again. What I'm hoping for is a correction prior to nasdaq so we enter on good fundamentals.
BLong
by Honkytime
2
Bitfarms (Bearish)Bitfarms has had a clear rejection of the bottom trendline and didn't even respect the 50 MA (which it did the last time it touched it on Jan 27 and 28). Those factors accompanied with a crossing of the 9 and 20 EMA mean I am bearish. It's a shame too because Bitcoin mining should do well as Bitcoin has been on a tear, plus they've applied for an uplist to Nasdaq in late February. If Bitcoin keeps rising and Nasdaq approves their uplist I expect the bearish technical analysis to reverse. But we're not there now. So, I'm bearish for now.
BShort
by businessjeremy
6
Bitfarms projectionBitfarms has 30% higher hashrate than RIOT does. With an uplisting expecting to a major exchange in coming months, the growth of the stock on fundamentals should put it on a higher valuation than blue chip miners. Long term plans for Bitfarms plan to grow from their current 1.3 EH to 8 EH by the end of 2022. Additional growth in BTC should drive the price even further. 1. Currently 30% higher hashrate than RIOT 2. Exchange uplist expected 3. Longterm plans to grow hashrate from 1.3 EH to 8 EH 4. Institutional investment in BTC should drive the price even higher. A long term price well over $100 would seem reasonable beyond the current fundamental price of $40 shown here.
BLong
by TravisUpNorth
2