About BITF
Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada. It also undertakes hosting of third-party mining hardware. The company was founded in 2017 and is based in Toronto, Canada. [Read more]
Industry Capital Markets
Sector Financials
Founded 2017
Employees 170
Stock Exchange NASDAQ
Ticker Symbol BITF
Full Company Profile
Financial Performance
In 2023, Bitfarms's revenue was $146.37 million, an increase of 2.76% compared to the previous year's $142.43 million. Losses were -$104.04 million, -40.77% less than in 2022.
Financial Statements
Analyst Forecast
According to 5 analysts, the average rating for BITF stock is "Strong Buy." The 12-month stock price forecast is $4.0, which is an increase of 55.64% from the latest price.
Price Target
$4.0
(55.64% upside)
Analyst Consensus: Strong Buy
Stock Forecasts
News
Bitfarms Announces Appointment of Fanny Philip to Board of Directors
This news release constitutes a “designated news release” for the purposes of the Company's prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023
1 day ago - GlobeNewsWire
Bitfarms Receives Shareholder Meeting Requisition
Reiterates Commitment to Strategic Alternative Review Process to Maximize Shareholder Value No Shareholder Action Required at this Time This news release constitutes a “designated news release” for th...
4 days ago - GlobeNewsWire
Riot Platforms withdraws offer for rival Bitfarms, seeks three board seats
Bitcoin miner Riot Platforms said on Monday it was withdrawing its offer for Bitfarms and had nominated three directors to the board of rival crypto miner.
Other symbols: RIOT
4 days ago - Reuters
Riot Requisitions Special Meeting of Bitfarms Shareholders and Nominates Three Highly Qualified, Independent Directors to Bring Urgently Needed Change to Bitfarms Board
CASTLE ROCK, Colo.--(BUSINESS WIRE)--Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot”) today announced that it has requisitioned a special meeting of Bitfarms Ltd. (NASDAQ: BITF) (“Bitfarms” or the “Compan...
Other symbols: RIOT
4 days ago - Business Wire
Why is Riot Platforms in a hostile takeover of Bitfarms?
Bitfarms (NASDAQ: BITF) and Riot Platforms (NASDAQ: RIOT) stock prices have been in the spotlight in the past few weeks. BITF has surged by over 78% in the past 30 days, giving it a market cap of over...
Other symbols: RIOT
10 days ago - Invezz
Riot Platforms boosts stake in Bitfarms to 14%
Bitfarms Ltd (NASDAQ: BITF) is gaining this morning after Riot Platforms Inc (NASDAQ: RIOT) increased its stake in the Bitcoin miner to about $14%. Riot now owns over 59 million Bitfarms shares Riot ...
Other symbols: RIOT
14 days ago - Invezz
MSFT Falls & Latest in RIOT Acquisition of BITF
Microstrategy (MSTR) shares fall after they announced plans to raise $500N to buy more Bitcoin. Kevin Green discusses this, as well as the latest in Riot Platforms (RIOT) acquisition pursuit of Bit Fa...
Other symbols: MSFTRIOT
15 days ago - Schwab Network
Bitfarms Enters into Agreement to Develop 120 MW in U.S.; Provides 2025 Guidance of Over 35 EH/s
-First U.S. large scale site supports 8 EH/s in 2025 with deployment of 600 PH/s in 2024--Strategically located in PJM Interconnection market, providing access to low-cost, flexible power--Increases 2...
15 days ago - GlobeNewsWire
Bitfarms Issues Statement Regarding Riot Platforms' Attempts to Disrupt Ongoing Strategic Alternatives Review Process
-Bitfarms Board of Directors Remains Committed to Maximizing Value for All Shareholders- -Continues to Welcome Riot's Participation in Ongoing Strategic Alternatives Review Process- This news release ...
15 days ago - GlobeNewsWire
Bitcoin miner Riot Platforms attacks takeover target Bitfarms over poison pill
Riot Platforms said Bitfarms' move to adopt a poison pill to thwart its acquisition by the bitcoin miner was "shareholder unfriendly" and highlighted the lack of solid corporate governance standards.
Other symbols: RIOT
16 days ago - Reuters
Bitfarms Announces Toronto Stock Exchange Deferral of Consideration of Shareholder Rights Plan
This news release constitutes a “designated news release” for the purposes of the Company's prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023.
18 days ago - GlobeNewsWire
Bitfarms to adopt 'poison pill' amid Riot takeover attempt
Bitcoin miner Bitfarms said on Monday it had approved the adoption of a "poison pill" to fend off a potential hostile takeover attempt by rival Riot Platforms.
18 days ago - Reuters
Bitfarms Announces Adoption of Shareholder Rights Plan
This news release constitutes a “designated news release” for the purposes of the Company's prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023.
18 days ago - GlobeNewsWire
Riot Platforms acquires 12% stake in rival Bitfarms
Bitcoin miner Riot Platforms said on Wednesday it has acquired ownership of 12% stake in rival Bitfarms Ltd..
Other symbols: RIOT
22 days ago - Reuters
Riot Platforms, Inc. Reports Beneficial Ownership of 12% in Bitfarms Ltd.
CASTLE ROCK, Colo.--(BUSINESS WIRE)--Riot Platforms, Inc. (“Riot”) issues this press release pursuant to Part 3 of Canadian National Instrument 62-103 – The Early Warning System and Related Take-Over ...
Other symbols: RIOT
22 days ago - Business Wire
Bitfarms Provides May 2024 Productionand Operations Update
- Earned 156 BTC in May 2024 -- Secured additional hydropower in Paraguay with potential to add 6 EH/s in 2025 -- Increased installed hashrate to 9.5 EH/s with 7.5 EH/s operational -- Improved corpora...
25 days ago - GlobeNewsWire
Bitfarms Announces Results of Annual General and Special Meeting of Shareholders
This news release constitutes a “designated news release” for the purposes of the Company's prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023.
4 weeks ago - GlobeNewsWire
Bitfarms (BITF) Rejects RIOT's Takeover Bid
Bitfarms (BITF) rejects takeover bid from Riot Platforms (RIOT). Kevin Green discusses this as Bitfarms is continuing its search for a new CEO.
Other symbols: RIOT
4 weeks ago - Schwab Network
Bitfarms says Riot Platforms buyout offer is too low as it weighs potential sale
Bitfarms Ltd. on Wednesday said it rejected a buyout offer from larger rival Riot Platforms Inc. because it “significantly” undervalues the company, but it's weighing other bids from prospective buyer...
Other symbols: RIOT
4 weeks ago - Market Watch
Bitfarms Responds to Unsolicited Proposal from Riot Platforms
Company Committed to Maximizing Value for All Shareholders; Strategic Alternatives Process Underway Reaffirms Confidence in Business and Guidance of 21 EH/s and 21 w/TH in 2024 This news release const...
4 weeks ago - GlobeNewsWire
Riot Platforms, Inc. Reports Beneficial Ownership of 10% in Bitfarms Ltd.
CASTLE ROCK, Colo.--(BUSINESS WIRE)--Riot Platforms, Inc. (“Riot”) issues this press release pursuant to Part 3 of Canadian National Instrument 62-103 – The Early Warning System and Related Take-Over ...
Other symbols: RIOT
4 weeks ago - Business Wire
Bitfarms stock rallies as rival Riot Platforms discloses rejected merger deal
Bitfarms Ltd'.s stock jumped 11% in premarket trading on Tuesday after its larger rival Riot Platforms Inc. said it had approached the company about a $950 million buyout offer but was rejected.
Other symbols: RIOT
4 weeks ago - Market Watch
Riot Platforms proposes to buy crypto miner Bitfarms
Riot platforms said on Tuesday it has made a proposal to acquire all shares of crypto miner Bitfarms for about $950 million in total equity value.
Other symbols: RIOT
4 weeks ago - Reuters
Riot Proposes to Acquire Bitfarms for US$2.30 Per Share to Create the World's Largest Publicly Listed Bitcoin Miner
CASTLE ROCK, Colo.--(BUSINESS WIRE)--Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot” or the “Company”) today announced that it has made a proposal to the Bitfarms Board of Directors (the “Bitfarms Board”)...
Other symbols: RIOT
4 weeks ago - Business Wire
Bitfarms Reports First Quarter 2024 Results
- Revenue of $50 million, up 9% Q/Q and 67% Y/Y -- Gross mining margin of 59%, up from 52% in Q4 2023 & 41% in Q1 2023 -- Secured additional 24,000 miners in March, increasing total delivery to 88,000...
6 weeks ago - GlobeNewsWire
