Bitfarms Ltd. (BITF) Research
Bitfarms Ltd. operates an enterprise focused on the extraction of various digital currencies across North America. The company maintains and runs its own data centers, primarily dedicated to verifying transactions on the Bitcoin Blockchain, from which it obtains cryptocurrency through block rewards and associated transaction fees. In addition to its mining operations, Bitfarms provides electrical contracting services to commercial and residential customers throughout Quebec, Canada. It also offers hosting facilities for external cryptocurrency mining equipment. Founded in 2017, the company maintains its corporate headquarters in Toronto, Canada.
Market snapshot
- Symbol
- BITF
- Price
- $2.16
- Day change
- +9.09%
- Market cap
- $3.8B
- P/E ratio
- -9.59x
- 52-week range
- 0.673-6.6
- Sector
- Financial Services
- Industry
- Financial - Capital Markets
- Analyst price target
- $4.84
Recent news
- Bitcoin set to slump to new lows for 2026 after recent sell-off, traders forecast
Bitcoin prices fell this week after cryptocurrency treasury company Strategy revealed it sold a small amount of its bitcoin holding. Traders on prediction market Kalshi think it's likely that the cryptocurrency will fall below $60,000, which would mark a new low in 2026.
- Clarity Act Passes Senate Banking Committee, Crypto Stocks Rally
The Senate Banking Committee approved the Clarity Act in a bipartisan vote. But some issues are still up for debate.
- Bitcoin surged in April, but weak buyer demand makes the rally vulnerable
Bitcoin gained 12.7% in April, registering back-to-back monthly gains and its best month since April 2025. The run was driven by leveraged trading activity in the derivatives market while demand for the spot bitcoin contracted, signaling weakness in the rally, according to CryptoQuant.
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