Bitfarms price target lowered to $3.25 from $6 at Alliance Global Partners

Alliance Global Partners lowered the firm’s price target on Bitfarms (BITF) to $3.25 from $6 and keeps a Buy rating on the shares after the company reported Q4 results. The firm said the rebalancing of the company’s portfolio of assets has created a more optimal bitcoin mining business, adding that the sale of its Yguazu data center allows it to continue its strategic goal of rebalancing the energy portfolio to be more weighted towards North America. However, given the firm’s lower assumption on bitcoin price as well as a reduced plan for hashrate growth, it lowered its revenue estimates for 2025 and 2026.