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Bitfarms ( (TSE:BITF) ) has issued an update.
Bitfarms Ltd. announced significant strategic movements in its operations, including the energization of two North American sites and the planned sale of its Yguazu site in Paraguay to HIVE Digital Technologies. These actions are set to enhance its energy pipeline and focus on North American growth, particularly in HPC and Bitcoin mining. The acquisition of Stronghold Digital Mining is on track, further supporting Bitfarms’ expansion strategy. Engaging consultants to evaluate data centers, Bitfarms aims to monetize its North American assets through long-term contracts in the HPC/AI sector, promising steady cash flows and shareholder value. In January, Bitfarms increased its operational hashrate by 19% to 15.2 EH/s, with further expansions scheduled, aiming for 21 EH/s across multiple sites, despite some setbacks with miner performance.
More about Bitfarms
Bitfarms Ltd. is a global Bitcoin and vertically integrated data center company that operates in the cryptocurrency mining industry. The company focuses on high-performance computing (HPC) and artificial intelligence (AI) business development, with a strong emphasis on expanding its operations in North America.
YTD Price Performance: -9.94%
Average Trading Volume: 48,339,637
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $709.7M
For an in-depth examination of BITF stock, go to TipRanks’ Stock Analysis page.
