Welcome to our dedicated page for Bitfarms Ltd. news (Ticker: BITF), a resource for investors and traders seeking the latest updates and insights on Bitfarms Ltd. stock.
Bitfarms Ltd. (symbol: BITF) is one of the largest blockchain technology companies in North America, with operations primarily based in Québec, Canada. Founded as a pioneer in the blockchain and cryptocurrency mining industry, Bitfarms has expanded its technological expertise well beyond cryptomining.
Bitfarms focuses on selling computational power used for hashing calculations, thereby facilitating cryptocurrency mining across multiple jurisdictions including Canada, the United States, Argentina, and Paraguay. The company owns and operates server farms equipped with specialized computers designed for validating transactions on the Bitcoin Blockchain.
Recent achievements for Bitfarms include significant expansions in their data center capacities and strategic partnerships that enhance their operational efficiency. The company's robust infrastructure and energy logistics management play a critical role in supporting the ever-evolving digital landscape, making Bitfarms a catalytic force in the blockchain ecosystem.
Bitfarms continues to innovate and adapt to market changes, ensuring sustainable growth and stability in a highly speculative and dynamic industry. Their commitment to developing blockchain-based technologies positions them as a key player in transforming how digital transactions and operations are conducted globally.
Bitfarms Ltd. reported a production update for May 2022, mining a total of 431 Bitcoins, averaging 13.9 BTC per day, a 3% increase from April. The company emphasized its efficiency and low-cost operations supported by hydro power, maintaining profitability despite a drop in Bitcoin prices. The completion of its Leger facility has established it as the largest site, generating 740 PH/s. The second phase of The Bunker is underway, expected to enhance capacity to 30 MW. Bitfarms aims for a hashrate goal of 4 EH/s by the end of Q2 2022.
Bitfarms Ltd. (NASDAQ: BITF) is hosting an Analyst and Institutional Investor Day on June 22, 2022, in Montreal and online. Attendees will witness real-time Bitcoin mining and participate in presentations from senior management focusing on global operations and strategic growth. The event features key executives covering various topics, including facilities, miner optimization, and financing strategy. The company is recognized for its operational excellence and sustainable practices, utilizing hydro power for over 99% of its energy needs.
Bitfarms Ltd. (NASDAQ: BITF), a global leader in Bitcoin self-mining, will attend significant investment conferences in May and June 2022. The first is the H.C. Wainwright Global Investment Conference from May 23-26 in Miami, featuring a webcast presentation on May 25 at 10:00 am ET. The second event is the D.A. Davidson Bitcoin & Blockchain Conference on June 2 in NYC, where one-on-one meetings will also be available. For details and schedules, visit Bitfarms' investor relations page.
Bitfarms Ltd. (NASDAQ: BITF) reported strong Q1 2022 results, mining 961 Bitcoin at an average cost of $8,700 each, resulting in revenues of $40 million, a 42% increase from Q1 2021. Adjusted EBITDA rose to $32 million, up from $20 million year-on-year. Despite a declining Bitcoin market, net income improved to $5 million compared to a loss of $8 million in Q1 2021. The company expanded its global operations with new facilities, achieving a hashrate of 2.7 EH/s, expected to reach 4.0 EH/s by June 30, 2022.
Bitfarms Ltd. (NASDAQ: BITF) reported strong Bitcoin production metrics for April 2022, mining 405 BTC, averaging 13.5 BTC daily, a 15% increase from March. The company’s hashrate surged to 3.3 EH/s, up 22% from the previous month, facilitated by new miner installations at its Leger farm. With a total custody of 5,646 BTC valued at approximately $217 million, Bitfarms is on track to enhance its operational capacity further with upcoming expansions planned for May and June. This momentum could positively influence future financial performance.
Bitfarms Ltd. (NASDAQ: BITF) will report its fiscal Q1 2022 financial results on May 16, 2022, prior to market opening. Management will host a conference call at 11:00 a.m. ET, featuring a Q&A session post-presentation. Interested parties can submit questions until May 13, 2022. Bitfarms operates globally with a focus on self-mining Bitcoin and has recently been honored as a Venture 50 Winner in the Technology sector by TSX-V. The company aims to enhance operational performance with eco-friendly hydro power across its facilities.
Bitfarms Ltd. (NASDAQ: BITF / TSXV: BITF) has received final approval for its common shares to be listed on the Toronto Stock Exchange (TSX), effective April 8, 2022. This transition from the TSX Venture Exchange will enhance the company's visibility, liquidity, and access to capital. No action is required from shareholders for this change, and trading will continue under the symbol BITF. The listing aims to broaden Bitfarms' investor base as it executes its global expansion strategy.
Bitfarms Ltd. (NASDAQ: BITF), a leading Bitcoin self-mining company, has successfully launched production at its Leger facility in Sherbrooke, Quebec, boosting its operational hashrate to 3 EH/s. This expansion includes an initial deployment of 16 MW from a total planned capacity of 30 MW. With the addition of Leger, Bitfarms now operates 137 MW across nine production sites. The company currently mines approximately 13.3 BTC daily, valued at about US$605,000. Further expansion is planned at Leger and The Bunker for mid-2022, aiming to enhance capacity and hashrate.
Bitfarms Ltd. (NASDAQ: BITF) announced its participation in two key conferences in April 2022: the Bitcoin 2022 Conference in Miami Beach (April 6-9) and the Cowen Bitcoin Mining Summit (April 12-13). At Bitcoin 2022, Bitfarms' Chief Mining Officer, Ben Gagnon, will participate in two panels on April 7 and 8. The Cowen Summit will feature a panel on April 13 focused on self-mining strategies. Bitfarms is a prominent Bitcoin self-mining company with multiple facilities powered predominantly by hydroelectricity.
Bitfarms Ltd. (NASDAQ: BITF) reported a significant increase in hashrate by 400 petahash to 2.7 EH/s in March 2022. This growth was driven by the activation of a new facility in Sherbrooke, which is part of a broader goal to reach 3 EH/s soon. The company also saw a daily BTC production rise of 18%, averaging 12.5 BTC, translating to about US$575,000 in daily revenue. Additionally, Bitfarms secured a US$40 million draw from its BTC-backed credit facility to support its expansion plans.
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