Alliance Global analyst Brian Kinstlinger lowered the firm’s price target on Bitfarms (BITF) to $5 from $6 and keeps a Buy rating on the shares. Bitfarms, which announced the completion of its previously announced redomiciliation from Canada to the United States and noted that Keel Infrastructure, now the ultimate parent corporation of Bitfarms, is expected to begin trading on the Nasdaq and the Toronto Stock Exchange under the ticker (KEEL) at the opening of trading on April 6 in substitution for the Bitfarms shares, is in the process of receiving the necessary permits to move forward with its three primary HPC/AI projects and is winding down its bitcoin mining operations, the analyst noted. The firm expects finalization of permits on its HPC/AI sites will be the next catalyst.
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