Did you know Bitfarms Ltd, a big name in cryptocurrency mining, saw no price change recently? This finding comes from 30 experts who all agree it’s a ‘Buy.’ This is rare in today’s unpredictable market1. The company, worth over $1 billion, has a beta of 3.23. This shows it’s very volatile. Investors keep a close eye on the latest stock price shifts at Bitfarms Ltd. Being on NasdaqGM with the symbol BITF, Bitfarms is considered an exciting investment. It plays a key role in checking Bitcoin Blockchain transactions.
Key Takeaways
- Bitfarms Ltd is highly influential in the cryptocurrency mining sector with a market cap of over $1 billion.
- All 30 analysts unanimously rate Bitfarms as a ‘Buy.’
- Despite high volatility, investors see Bitfarms as a promising investment.
- Bitfarms plays a crucial role in validating Bitcoin Blockchain transactions.
- Listed on NasdaqGM under the ticker BITF.
- Recent performance was stable with 0% price change over a selected period1.
Introduction to Bitfarms
Bitfarms, initially known as Bitfarms Technologies Ltd, changed its name in October 2018. It’s a leader in the cryptocurrency mining segment. Based in Toronto, Canada, and founded in 2017, it quickly became a major name in the industry. It operates in many countries.
Company Overview
The company overview highlights Bitfarms’ wide range of services. Besides mining digital currencies, it provides electric services in Quebec, Canada. This variety helps the company grow and stabilize in the cryptocurrency mining segment. It has a market cap of $863.64 million, showing potential for significant expansion2.
The stock’s price today varies between $2.09 and $2.192. Its 52-week range is from $0.92 to $3.91. This suggests a strong chance for investment gains2.
Core Operations
The heart of Bitfarms’ success is its cryptocurrency mining segment. It uses a special data system to improve its mining work and uptime. Additionally, it hosts hardware for others, adding to its income streams. Its gross profit is $111.1 million3. With a low debt-to-equity ratio of 0.03, the firm is financially wise2.
Recent Performance of Bitfarms Stock
Bitfarms stock has gone through a lot of ups and downs this past year. This is pretty common for companies in the world of crypto mining. The stock’s price has bounced between $0.9190 and $3.9100, showing just how unpredictable the market can be4. Yet, Bitfarms remains a heavyweight with a $1.02 billion market cap4.
Year-to-Date (YTD) Performance
Looking at Bitfarms’ performance this year gives us some interesting points. Despite falling by -12.45% in a recent quarter, there’s still hope for a turnaround4. It means despite tough times, recovery could be on the horizon.
Currently, Bitfarms isn’t making money, with earnings per share at -0.44 CAD. However, this could change for the better if the market starts to look up5.
Comparison with Market Benchmarks
Comparing Bitfarms to the S&P/TSX Composite index shows they play in different leagues. Bitfarms deals with more ups and downs because it’s in the crypto sector5. But, with a beta of 0.66, its stock isn’t as wild as the entire market. This could mean it’s a bit safer for those aiming to invest in the shaky crypto world5.
Bitfarms doesn’t pay out dividends, which might turn off some investors. However, for those eyeing growth in their investments, it remains an enticing choice4.
Latest Bitfarms Stock Price Movements
For investors, tracking Bitfarms stock price is key to making smart choices. Daily trends provide quick market insights. Weekly and monthly data reveal longer trends and shifts.
Daily Trends
Short-term traders watch Bitfarms stock daily changes closely. This helps them see market reactions right away. They use this info to make fast buys or sells.
Weekly and Monthly Movements
Looking at Bitfarms stock weekly and monthly gives a fuller picture. It shows trends that daily checks might miss. Long-term investors find this vital to judge Bitfarms’ future.
Analysts have varying views on Bitfarms’ outlook. Predictions range from $2.00 to $5.00, with a midpoint of $3.231. Earnings guesses go from -0.236 USD to 0.034 USD. Revenue could be between 53 USD to 509 USD1.
This detailed data can guide you in making sharper investment decisions. It is useful whether you’re into day trading or long-term investing.
Key Factors Impacting Bitfarms Stock
Bitfarms’ stock price gets affected by several important factors. Knowing these can help investors with their decisions.
Market Sentiment
Market feelings greatly affect Bitfarms’ stock, especially in the crypto world. Good vibes can push stock prices up, while bad ones can make them fall.
Changes in Bitcoin prices directly influence Bitfarms since it mines Bitcoin. Big swings in Bitcoin’s value can lift or drop Bitfarms’ stock. News about rules or tech updates in crypto can also change what investors feel, affecting the stock price6.
Economic Indicators
Economic signs also play a big role in analyzing Bitfarms stock. Things like interest rates, inflation, and how the economy is doing can change how people invest.
For instance, if interest rates go up, it costs more for companies to borrow money. This can make their stock prices go down. On the flip side, low interest rates might make people want to invest more in stocks7. Also, higher inflation can push investors to look for other options, impacting stocks like Bitfarms8.
Analysts’ Ratings and Forecasts
Analysts’ ratings are key for investors to predict Bitfarms Ltd.’s future. Firms like Stifel Nicolaus and Northland Securities give important stock forecasts. They offer different market views.
Current Ratings
Bitfarms Ltd. has a Zacks Rank of 3, meaning it’s a Hold9. It’s seen as a stable investment right now. In the tech world, it’s in the top 26%, ranking 66 out of 251 firms9.
The company also scores high in Value, Growth, and Momentum9. It has an overall A rating. This shows it performs well in several investment areas.
Price Targets
Analysts have varied opinions on Bitfarms’ price. The average target is $4.13, with a high of $5.50 and a low of $2.309. This suggests a big growth potential from today’s prices9.
Here’s a table with analyst ratings and targets for Bitfarms Ltd.:
| Attribute | Details |
|---|---|
| Current Stock Price | $2.11 USD9 |
| After-Market Price | $2.10 USD9 |
| Zacks Rank | 3 (Hold)9 |
| Industry Rank | Top 26% (66 out of 251)9 |
| Average Price Target | $4.13 USD9 |
| Highest Price Target | $5.50 USD9 |
| Lowest Price Target | $2.30 USD9 |
| Upside Potential | 83.56%9 |
Out of 7 firms, 85.71% recommend a Strong Buy for Bitfarms9. The average rating is pretty high at 1.299.
Analysts’ ratings show varied views on Bitfarms’ future. This info helps investors decide on their strategies.
Technical Analysis of Bitfarms Stock Price
We’re going to look at how Bitfarms stock has been doing. By checking things like moving averages and understanding support and resistance levels, we can guess where the price might go.
Moving Averages
Moving averages help us see the average price of Bitfarms stock over time. Tools like the Simple Moving Average (SMA) and Exponential Moving Average (EMA) show us trends and when the trend might change. Right now, the moving averages suggest that Bitfarms’ stock might drop10. These averages use past prices to try and predict what will happen next.
Support and Resistance Levels
Knowing about support and resistance can help you decide when to buy or sell Bitfarms stock. These are prices where the stock often changes direction because lots of people are buying or selling. Pivot points help traders guess if the stock price will keep going in the same direction or change10. Using these tools helps traders make better guesses by looking at past prices Bitfarms Ltd. stock price predictions10.
Financial Health of Bitfarms
Understanding the financial health of Bitfarms is crucial for interested investors and stakeholders. The company’s performance has varied, showing strengths and weaknesses.
Balance Sheet Overview
The balance sheet of Bitfarms offers key insights. It has $138.62 million in cash, showing a strong liquidity position11. Yet, it reported a loss of $106.25 million for common shareholders, pointing out financial challenges11. Bitfarms has a market cap of 952.2 million USD, making it a significant player in crypto mining3.
Further examination of financial statements reveals Wall Street’s forecasts. They predict a 1-year price range with a low of 2.41 USD and a high of 5.79 USD3. These predictions suggest a careful outlook is necessary.
Profitability and Margin Analysis
The profitability and margin analysis of Bitfarms offers a nuanced view. Its profitability score is 38/100, showing moderate profitability3. The solvency score is 79/100, indicating a good ability to meet long-term debts3. These numbers help gauge its financial condition and sustainability.
| Performance Metric | Percentage |
|---|---|
| 1-Month Performance | -2% |
| 6-Month Performance | -7% |
| 1-Year Performance | +97% |
| 3-Year Performance | -58% |
| 5-Year Performance | +225% |
Bitfarms has shown varied performances over different periods. The 1-year performance shows a +97% increase, indicating a strong recovery3. However, its 3-year performance has a -58% dip3. These figures are vital for a detailed margin analysis.
Bitfarms’ Role in Cryptocurrency Mining
Bitfarms is a big player in cryptocurrency mining. It uses a large-scale approach to stay ahead. The company focuses on being sustainable and spreading its operations across different places. This makes its mining work stronger and more efficient.
Mining Operations
Bitfarms runs 12 Bitcoin data centers, with two more on the way. They are in Canada, the United States, Paraguay, and Argentina1213. These centers stand out because they use clean hydro-electric power. They also have long-term deals for energy, showing Bitfarms’ dedication to being green13.
This careful planning for energy use is key. It keeps their mining work profitable and efficient.
Geographical Presence
Being in many countries is a big plus for Bitfarms. It helps the company deal with changes in rules and energy needs. They work in Canada, the United States, Argentina, and Paraguay12. This wide spread keeps their network strong.
Their global reach helps with making new partnerships and growing their data centers. It’s good for long-term growth and strengthening their market position1213. Having operations in different places also means they can get energy that’s reliable and doesn’t cost too much. This makes sure mining is always up and running well.
Market Trends in Cryptocurrency Mining
The world of cryptocurrency mining is changing fast. This change is driven by big growth in the industry and more big investors getting involved. We are seeing new companies starting up and old ones like Bitfarms working hard to keep up.
Industry Growth
The crypto mining industry is growing quickly. Companies like Bitfarms are getting bigger. For example, Bitfarms has 6,075 BTC and started trading on Nasdaq in 2021. They use the ticker symbol BITF14. By securing cheap energy deals and running nine computing centers in places like Canada, the US, and Paraguay, they have a strong position in the market14. Bitfarms’ deal to host 10,000 miners with Stronghold Digital Mining shows how the industry can grow even more15.
Key Challenges
The crypto mining industry is growing but faces big challenges. Companies like Bitfarms deal with strict rules and how they affect their business. Also, there’s growing worry about the lot of energy mining uses. Bitfarms and others need to find new ways to solve these issues while keeping up with fast tech changes14. They must stay ahead to succeed.
Market changes add another challenge. For example, Bitfarms shared their second quarter 2024 results. They showed better hash rates, thanks to their ways of dealing with market ups and downs15. Tackling these challenges is key to keeping the industry growing and stable.
| Aspect | Details |
|---|---|
| BTC Mined Daily | 13.9 BTC14 |
| BTC Held | 6,075 BTC14 |
| Computing Centers | 914 |
| Recent Hosting Agreement | 10,000 miners15 |
| Production Updates | Announced for August 202415 |
Risk Factors Associated with Bitfarms Stock
Investing in Bitfarms stock means considering several risks that could majorly affect your investments. The crypto market is very unpredictable. This makes Bitfarms stock investments exposed to sudden and unexpected price changes. It’s key to grasp the volatility trends16. This knowledge helps in handling market risks well.
New rules on cryptocurrency can also complicate things for Bitfarms stock. Governments around the world are starting to set rules for cryptocurrency businesses. Such rules could directly impact Bitfarms’ way of operation and its profits. The competition in cryptocurrency mining and changing energy costs also play a role. They can affect Bitfarms’ spending and overall financial health.
Action by big investors is key to Bitfarms’ stock performance. For example, Riot Platforms, Inc. owns about 19.9% of Bitfarms17. The decisions these big shareholders make can change the stock’s value and how the market sees it. Bitfarms’ recent big purchase of Stronghold Digital Mining, Inc. for $175 million has made some shareholders worry about the cost17. Such decisions show why it’s crucial to check how well Bitfarms can handle risks and keep investor trust.
Lastly, Bitfarms’ scores in environmental, social, and governance (ESG) matter to investors and its growth over the long run. Thoroughly looking at these risks can lead to smarter decisions. This helps you refine your investment approach in the ever-changing crypto stock world.
FAQ
What is the latest update on Bitfarms stock price?
FAQ
What is the latest update on Bitfarms stock price?
Bitfarms stock has been up and down a lot. In the last year, the price ranged from
FAQ
What is the latest update on Bitfarms stock price?
Bitfarms stock has been up and down a lot. In the last year, the price ranged from $0.9190 to $3.9100. Keeping an eye on the latest price is key for investors.
Can you provide a brief overview of Bitfarms?
Bitfarms Ltd started in 2017 in Toronto, Canada. It got a new name from Bitfarms Technologies Ltd in October 2018. The company runs mining sites in Canada, the U.S., Paraguay, and Argentina.
What are Bitfarms’ core operations?
Bitfarms mines cryptocurrencies and checks Bitcoin Blockchain transactions. They also offer electrician services in Quebec, Canada. Plus, they host mining hardware for others and use special data analysis to improve their mining efforts.
How has Bitfarms stock performed year-to-date (YTD)?
This year, Bitfarms stock has had big price changes. Looking at its YTD performance helps investors see how it compares to big indices like the S&P/TSX Composite index.
How does Bitfarms’ stock price compare to market benchmarks?
When you compare Bitfarms’ stock price to indexes like the S&P/TSX Composite, you can see how strong and potentially profitable it is among other market trends.
What are the daily trends in Bitfarms stock price?
Daily price changes of Bitfarms’ stock show how the market feels about it right now. This info is very important for short-term traders.
How do weekly and monthly movements of Bitfarms stock price look?
Looking at the weekly and monthly trends of Bitfarms stock helps investors see longer patterns. This can guide them in making future investment choices.
What are the key factors impacting Bitfarms stock price?
Several things affect Bitfarms stock price. These include feelings towards cryptocurrencies, economic signs like interest rates and inflation, Bitcoin price changes, news about rules, and new tech.
What are analysts’ current ratings on Bitfarms stock?
Experts from places like Stifel Nicolaus and Northland Securities rate Bitfarms stock from buy to hold. These opinions help investors guess the stock’s future.
What are the price targets set by analysts for Bitfarms stock?
Analysts have different views on where Bitfarms stock will go, predicting prices from $2.00 to $5.00. This shows there are varying opinions on its future success.
What is the role of moving averages in the technical analysis of Bitfarms stock price?
Moving averages show the trend and possible turnarounds of Bitfarms stock. They are key when forecasting future prices based on past performance.
How do support and resistance levels impact Bitfarms stock trading decisions?
Knowing about support and resistance levels helps traders pick the best times to buy or sell Bitfarms stock. These tools are essential for informed trading.
What does the balance sheet overview tell us about Bitfarms’ financial health?
Bitfarms’ balance sheet gives us a glimpse into its financial state. It shows vital numbers like total cash ($138.62M), net loss ($106.25M), and ratios that matter for its growth and daily operations.
How does Bitfarms’ profitability and margin analysis look?
Looking at Bitfarms’ profits and margins, including how its revenue and profit margins are doing, gives us a clue about its financial results and future earning power.
What is Bitfarms’ role in cryptocurrency mining?
Bitfarms is big in cryptocurrency mining, with mining places in several countries. It not only mines cryptos but also uses its own tech to make mining more efficient.
What is Bitfarms’ geographical presence?
Bitfarms operates in Canada, the U.S., Paraguay, and Argentina. Being in different places helps it deal with local rules and find different energy sources.
What are the current trends in the cryptocurrency mining industry?
The crypto mining world is changing fast, drawing big investors and public attention. Changes include new technology and more rules from governments.
What are the key challenges faced by the cryptocurrency mining industry?
The main problems are concerns about the environment, the ups and downs of the market, and government rules. Companies like Bitfarms must overcome these issues to stay ahead.
What are the risk factors associated with investing in Bitfarms stock?
Investing in Bitfarms stock comes with risks. These include the unstable crypto market, possible new rules, the competition in mining, and changing energy prices. Knowing these risks helps investors make smarter choices.
.9190 to .9100. Keeping an eye on the latest price is key for investors.
Can you provide a brief overview of Bitfarms?
Bitfarms Ltd started in 2017 in Toronto, Canada. It got a new name from Bitfarms Technologies Ltd in October 2018. The company runs mining sites in Canada, the U.S., Paraguay, and Argentina.
What are Bitfarms’ core operations?
Bitfarms mines cryptocurrencies and checks Bitcoin Blockchain transactions. They also offer electrician services in Quebec, Canada. Plus, they host mining hardware for others and use special data analysis to improve their mining efforts.
How has Bitfarms stock performed year-to-date (YTD)?
This year, Bitfarms stock has had big price changes. Looking at its YTD performance helps investors see how it compares to big indices like the S&P/TSX Composite index.
How does Bitfarms’ stock price compare to market benchmarks?
When you compare Bitfarms’ stock price to indexes like the S&P/TSX Composite, you can see how strong and potentially profitable it is among other market trends.
What are the daily trends in Bitfarms stock price?
Daily price changes of Bitfarms’ stock show how the market feels about it right now. This info is very important for short-term traders.
How do weekly and monthly movements of Bitfarms stock price look?
Looking at the weekly and monthly trends of Bitfarms stock helps investors see longer patterns. This can guide them in making future investment choices.
What are the key factors impacting Bitfarms stock price?
Several things affect Bitfarms stock price. These include feelings towards cryptocurrencies, economic signs like interest rates and inflation, Bitcoin price changes, news about rules, and new tech.
What are analysts’ current ratings on Bitfarms stock?
Experts from places like Stifel Nicolaus and Northland Securities rate Bitfarms stock from buy to hold. These opinions help investors guess the stock’s future.
What are the price targets set by analysts for Bitfarms stock?
Analysts have different views on where Bitfarms stock will go, predicting prices from .00 to .00. This shows there are varying opinions on its future success.
What is the role of moving averages in the technical analysis of Bitfarms stock price?
Moving averages show the trend and possible turnarounds of Bitfarms stock. They are key when forecasting future prices based on past performance.
How do support and resistance levels impact Bitfarms stock trading decisions?
Knowing about support and resistance levels helps traders pick the best times to buy or sell Bitfarms stock. These tools are essential for informed trading.
What does the balance sheet overview tell us about Bitfarms’ financial health?
Bitfarms’ balance sheet gives us a glimpse into its financial state. It shows vital numbers like total cash (8.62M), net loss (6.25M), and ratios that matter for its growth and daily operations.
How does Bitfarms’ profitability and margin analysis look?
Looking at Bitfarms’ profits and margins, including how its revenue and profit margins are doing, gives us a clue about its financial results and future earning power.
What is Bitfarms’ role in cryptocurrency mining?
Bitfarms is big in cryptocurrency mining, with mining places in several countries. It not only mines cryptos but also uses its own tech to make mining more efficient.
What is Bitfarms’ geographical presence?
Bitfarms operates in Canada, the U.S., Paraguay, and Argentina. Being in different places helps it deal with local rules and find different energy sources.
What are the current trends in the cryptocurrency mining industry?
The crypto mining world is changing fast, drawing big investors and public attention. Changes include new technology and more rules from governments.
What are the key challenges faced by the cryptocurrency mining industry?
The main problems are concerns about the environment, the ups and downs of the market, and government rules. Companies like Bitfarms must overcome these issues to stay ahead.
What are the risk factors associated with investing in Bitfarms stock?
Investing in Bitfarms stock comes with risks. These include the unstable crypto market, possible new rules, the competition in mining, and changing energy prices. Knowing these risks helps investors make smarter choices.
