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Bitfarms Ltd. - BITF STOCK NEWS

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.

News

Bitfarms Mines 411 BTC in September 2023

Rhea-AI Summary
Bitfarms increases operating capacity by 9% to 233 MW and improves energy efficiency with new miners. Hashrate increases 9% to 6.1 EH/s. BTC production in September was 411, up 7.3% from August. Network difficulty increased 2.7%. Bitfarms plans to focus on infrastructure and pay down debt. Positive business takes: increased operating capacity and hashrate, improved energy efficiency. Negative business takes: electrical infrastructure delays, below Q3 hashrate target.
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Bitfarms to Deliver Strategy and Vision at Analyst and Investor Day September 14th

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Bitfarms to hold Analyst and Investor Day on September 14th, 2023 in New York City. Senior leadership team will provide a detailed review of Bitfarms' strategy and vision. Webcast of the event will be available on the company's Investor Relations website.
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Bitfarms Mines 383 BTC in August 2023

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Bitfarms reports increase in hashrate to 5.6 EH/s and upgrades Magog farm with high-efficiency miners
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Bitfarms to Participate in September Investor Conferences

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Bitfarms Ltd. to participate in investor conferences and host Analyst & Investor Day in September.
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Bitfarms to Host Analyst & Investor Day on September 14th in New York City

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Bitfarms Ltd., a global Bitcoin mining company, will host an Analyst & Investor Day on September 14, 2023, in New York City and by live simulcast. The event will feature presentations by the senior leadership team, including President and CEO Geoff Morphy, covering topics such as global operations, strategic growth, and excellence in bitcoin mining. In-person attendance requires an invitation, while virtual attendance is available through a webcast.
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Bitfarms Reports Second Quarter 2023 Results

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Bitfarms Initiates Deployment Plan for 50 MW of Hydropower in Paraguay

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Bitfarms to Participate in the Canaccord Genuity 43rd Annual Growth Conference August 9 - 10

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Bitfarms Mines 378 BTC in July

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Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF) announces a significant expansion plan to nearly double its hydropower capacity to 350 MW by acquiring 150 MW of under-utilized hydropower in Paraguay. The company aims to leverage its industry knowledge and economies of scale to drive greater production efficiency. Bitfarms also provides Bitcoin (BTC) production and mining operations update for July 2023, including the launch of an 11th farm in Baie-Comeau, Quebec, on track to reach its first 11 MW of production in Q3 2023. The company is confident it will achieve its Q3 2023 target hashrate of 6.3 EH/s. Bitfarms experienced lower BTC production in July due to disruptions caused by extreme weather and a direct lightning strike at its Magog farm. However, the average BTC price rose to $30,100 in July, up 9.1% from June 2023.
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Bitfarms to Report Second Quarter 2023 Financial Results on Tuesday, August 8, 2023

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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.

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Bitfarms Ltd.

Nasdaq:BITF

BITF Rankings

#2617 Ranked by Market Cap
N/A Ranked by Dividends

BITF Stock Data

947.36M
381.97M
23.37%
18.87%
9.11%
Capital Markets
Financial Services
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United States of America
Toronto