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Stock impact report

Bitfarms Stock: The Bitcoin Mining Play to Watch [Yahoo! Finance]

Bitfarms Ltd. (BITF) 
Company Research Source: Yahoo! Finance
10 stocks we like better than Bitfarms › Bitfarms (NASDAQ: BITF) has significantly outperformed Bitcoin (CRYPTO: BTC) this year. As of early December, its shares were up almost 90% since the start of the year. At the same time, Bitcoin was down 5% year to date. That's because Bitfarms is pivoting away from crypto. It's transitioning toward becoming an energy and digital company to meet the growing demand from AI data centers , and its efforts are starting to bear fruit. Bitfarms began its shift away from Bitcoin mining at the end of last year. It closed out some of its Bitcoin positions while prices were high and began converting its mining centers. Bitfarms CEO Ben Gagnon told investors on its recent November third-quarter earnings call that the company believed it could earn more from just one site offering GPUs as a service than it had ever generated from Bitcoin mining. Bitfarms is not alone. Volatile crypto prices and a competitive market have made Bitcoin mining less pr Show less Read more
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