Not A Buy Until Bitfarms Makes Money [Seeking Alpha]
Bitfarms Ltd. (BITF)
Company Research
Source: Seeking Alpha
The company has experienced growth and raised over $300M in capital in 2021 to expand its operations. BITF operates mining farms in Quebec, Washington, Paraguay, and Argentina, focusing on low operating costs and hydroelectric energy. Upcoming halving may lead to M&A opportunities down the road, while the Milei government should make expansion in Argentina more favorable. Yet, the main hurdle is the transition to positive free cash flow. Bitfarms ( NASDAQ: BITF ) is a well-known, Canadian miner of Bitcoin ( BTC-USD ). I've been looking at companies in the BTC universe, which brought Bitfarms to my attention. The stock price has also had some interesting action lately. From pessimism in the fall to wavering optimism in the winter, the market has recently decided that the company is worth about $760M. Since other BTC miners exist, it's worth looking at Bitfarms to see what kind of opportunity they present to the long-term investor. Financial History The company was founde
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BITF
News
- Bitfarms Schedules First Quarter 2024 Conference Call on May 13, 2024 [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Bitfarms Schedules First Quarter 2024 Conference Call on May 13, 2024GlobeNewswire
- Bitfarms Ltd. (NASDAQ: BITF) is now covered by analysts at Northland Securities. They set an "outperform" rating and a $4.00 price target on the stock.MarketBeat
- How a Jack Dorsey-backed bitcoin miner uses a volcano in Kenya to turn on the lights in rural homes [CNBC]CNBC
- CANADA STOCKS-TSX climbs as investors shake off Middle East jitters [Yahoo! Finance]Yahoo! Finance
BITF
Sec Filings
- 4/26/24 - Form 6-K
- 4/22/24 - Form S-8
- 4/17/24 - Form 6-K
- BITF's page on the SEC website