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.
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Bitfarms Ltd. announced an at-the-market equity program with H.C. Wainwright & Co., LLC to raise up to US$375 million through the sale of common shares on the Nasdaq Stock Market. The proceeds will be used for capital expenditures, mining operations, and general corporate purposes.
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Bitfarms Ltd. (BITF) reported strong financial results for Q4 2023 and 2023, including earning 1,236 BTC in Q4 and 4,928 BTC for the year. The company improved its gross mining margin, achieved a debt-free status, and is on track to meet its targets for 2024. Bitfarms is focusing on significant growth through fleet upgrades, mining facility expansions, and new farm developments in Paraguay. The company's financial flexibility has been enhanced, and it aims to triple its hashrate and increase operating capacity by 63% in 2024.
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Bitfarms Ltd. provides a production report and fleet upgrade update, with 12 Bitmain T21 miners installed and testing above specifications. The company aims for 12 EH/s and 25 w/TH by end of Q2 2024 and 21 EH/s by end of 2024.
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Bitfarms Ltd. (BITF) will release its Q4 and full year 2023 financial results on March 7, 2024. The management will host a conference call at 8:00am EST. Participants can pre-register for the event to receive dial-in details. The conference call will also be available via live webcast and an audio replay will be accessible until March 14, 2024.
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Bitfarms Ltd. provides an update on their aggressive growth plan, aiming to reach hashrates of 12 EH/s in 1H 2024 and 21 EH/s in 2H 2024. The company is expanding its operations in Paraguay and Quebec, with fleet upgrades and new farm developments. January production saw a decrease in BTC earned compared to December, attributed to higher energy curtailment due to winter storms. The company also provided financial updates, including the sale of 357 BTC generating $15.3 million in proceeds and a reduction in total outstanding indebtedness by $2.0 million.
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Bitfarms Ltd. announces that its management and directors will ring the closing bell at Nasdaq MarketSite in New York's Time Square to celebrate its listing on Nasdaq and highlight its 2023 ranking as the 8th top performing stock. The event will be webcast live on January 30th, showcasing the company's transformational growth strategy and strong trajectory in the Bitcoin and mining industry.
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Bitfarms Ltd. completes the purchase of land for a new 100 MW production facility in Yguazu, Paraguay, expanding its LATAM portfolio with low-cost renewable hydropower. The facility is strategically located near the Itaipú Dam, positioning the company to benefit from abundant renewable energy resources. The new facility is expected to be sustainable both economically and environmentally, with over 85% of the company's portfolio powered by low-cost green energy. Bitfarms anticipates completing the facility's build-out in the second half of 2024 and aims to achieve a corporate hashrate of 21 EH/s by year end 2024. The company's goal is to deliver improvements in hashrate, energy efficiency, and cost per bitcoin, positioning itself well for the Halving and to capture upside from rising Bitcoin prices and mining economics.
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Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF) appoints Tracy Krumme as Senior Vice President, Head of Investor Relations, bringing over 30 years of leadership experience in investor relations, financial communications, investment banking, and equity research. CEO Geoffrey Morphy expresses excitement over Tracy's strategic acumen and proven track record, while Tracy herself is impressed by Bitfarms' international management team and looks forward to enhancing fleet energy efficiency ahead of the next Bitcoin Halving.
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Bitfarms Ltd. (NASDAQ: BITF // TSX: BITF) to Present at 26th Annual Needham Growth Conference on January 17, 2024
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Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF) exceeded its guidance by increasing hashrate 44% YOY to 6.5 EH/s at Dec. 31, 2023, expanding total contracted capacity to 593 MW, and aiming to achieve 12 EH/s and 25 w/TH fleet efficiency in Q2 2024.
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FAQ
What is the current stock price of Bitfarms Ltd. (BITF)?
The current stock price of Bitfarms Ltd. (BITF) is $2.11 as of November 22, 2024.
What is the market cap of Bitfarms Ltd. (BITF)?
The market cap of Bitfarms Ltd. (BITF) is approximately 947.4M.
What does Bitfarms Ltd. do?
Bitfarms Ltd. engages in cryptocurrency mining, selling computational power for hashing calculations. They also design, build, and manage farm operations and data centers.
Where are Bitfarms' operations located?
Bitfarms' operations are located in Canada, the United States, Argentina, and Paraguay.
What recent achievements has Bitfarms accomplished?
Recent achievements include expansions in data center capacities and strategic partnerships to enhance operational efficiency.
How does Bitfarms contribute to the blockchain ecosystem?
Bitfarms plays a catalytic role by supporting the blockchain ecosystem through its extensive expertise in cryptomining and technology infrastructure.
What is the core business of Bitfarms?
The core business of Bitfarms is cryptocurrency mining and selling computational power for blockchain operations.
Who are the primary regulatory authorities for Bitfarms?
Bitfarms is regulated by authorities including the Toronto Stock Exchange and Nasdaq, among others.
What are some of the key projects Bitfarms is currently working on?
Key projects include expanding data center capacities and enhancing energy logistics for improved operational efficiency.
How does Bitfarms ensure sustainable growth?
Bitfarms ensures sustainable growth by continuously innovating and adapting to market changes, along with strategic partnerships and infrastructure development.
What role does energy logistics play in Bitfarms' operations?
Energy logistics are crucial for Bitfarms as they manage the power requirements for their extensive cryptomining operations, ensuring efficiency and sustainability.
How can I stay updated with the latest news about Bitfarms?
You can stay updated by following Bitfarms on their social media channels and visiting their official website for the latest news and updates.
Bitfarms Ltd.
Nasdaq:BITF
BITF Rankings
BITF Stock Data
947.36M
381.97M
23.37%
18.87%
9.11%
Capital Markets
Financial Services
United States of America
Toronto