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Bitfarms ( (TSE:BITF) ) has issued an update.
Bitfarms Ltd. announced plans to convert its Washington State Bitcoin mining facility to support high-performance computing and AI workloads, targeting completion by December 2026. The conversion will feature advanced liquid cooling and support for Nvidia GB300 GPUs, with a fully funded agreement of $128 million to secure critical IT equipment. This strategic shift is expected to provide a strong cash flow foundation, potentially generating more net operating income than Bitcoin mining, as the company transitions away from Bitcoin mining in 2026 and 2027.
The most recent analyst rating on (TSE:BITF) stock is a Hold with a C$6.00 price target. To see the full list of analyst forecasts on Bitfarms stock, see the TSE:BITF Stock Forecast page.
Spark’s Take on TSE:BITF Stock
According to Spark, TipRanks’ AI Analyst, TSE:BITF is a Neutral.
The overall stock score is primarily influenced by financial performance challenges, despite positive technical trends and strategic initiatives highlighted in the earnings call. The negative valuation metrics also weigh on the score.
To see Spark’s full report on TSE:BITF stock, click here.
More about Bitfarms
Bitfarms Ltd. is a North American energy and digital infrastructure company that builds and operates vertically integrated, state-of-the-art data centers and energy infrastructure for high-performance computing and Bitcoin mining. Founded in 2017, Bitfarms is headquartered in New York, NY, and Toronto, ON, and is traded on the Nasdaq and Toronto Stock Exchange. The company has a 2.1 GW North American energy portfolio, strategically located in data center hotspots with robust access to power and fiber infrastructure.
Average Trading Volume: 9,234,767
Technical Sentiment Signal: Buy
Current Market Cap: C$2.45B
See more data about BITF stock on TipRanks’ Stock Analysis page.