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Bitfarms Ltd. - BITF STOCK NEWS

Welcome to our dedicated news page for Bitfarms Ltd. (Ticker: BITF), a resource for investors and traders seeking the latest updates and insights on Bitfarms Ltd..

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Bitfarms Ltd.'s stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Bitfarms Ltd.'s position in the market.

News
Rhea-AI Summary
Bitfarms announces CEO transition with Geoff Morphy leading the Company during the interim. Company reiterates 2024 guidance of 21 EH/s and 21 w/TH. The Board forms a CEO search committee to find a replacement quickly.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.87%
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Rhea-AI Summary
Bitfarms Ltd. (BITF) exercises purchase options for Bitmain T21 and S21 miners to expand its Bitcoin mining fleet. The company buys a total of 51,908 miners to enhance its mining capacity in anticipation of rising Bitcoin prices, aiming to reach 21 EH/s in 2024. The move is part of Bitfarms' strategy to improve hashrate, energy efficiency, and operating costs per terahash.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.49%
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Rhea-AI Summary
Bitfarms Ltd. announced an at-the-market equity program with H.C. Wainwright & Co., LLC to raise up to US$375 million through the sale of common shares on the Nasdaq Stock Market. The proceeds will be used for capital expenditures, mining operations, and general corporate purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.49%
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none
Rhea-AI Summary
Bitfarms Ltd. (BITF) reported strong financial results for Q4 2023 and 2023, including earning 1,236 BTC in Q4 and 4,928 BTC for the year. The company improved its gross mining margin, achieved a debt-free status, and is on track to meet its targets for 2024. Bitfarms is focusing on significant growth through fleet upgrades, mining facility expansions, and new farm developments in Paraguay. The company's financial flexibility has been enhanced, and it aims to triple its hashrate and increase operating capacity by 63% in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.92%
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earnings
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Rhea-AI Summary
Bitfarms Ltd. provides a production report and fleet upgrade update, with 12 Bitmain T21 miners installed and testing above specifications. The company aims for 12 EH/s and 25 w/TH by end of Q2 2024 and 21 EH/s by end of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.81%
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Rhea-AI Summary
Bitfarms Ltd. (BITF) will release its Q4 and full year 2023 financial results on March 7, 2024. The management will host a conference call at 8:00am EST. Participants can pre-register for the event to receive dial-in details. The conference call will also be available via live webcast and an audio replay will be accessible until March 14, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.73%
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News
Rhea-AI Summary
Bitfarms Ltd. provides an update on their aggressive growth plan, aiming to reach hashrates of 12 EH/s in 1H 2024 and 21 EH/s in 2H 2024. The company is expanding its operations in Paraguay and Quebec, with fleet upgrades and new farm developments. January production saw a decrease in BTC earned compared to December, attributed to higher energy curtailment due to winter storms. The company also provided financial updates, including the sale of 357 BTC generating $15.3 million in proceeds and a reduction in total outstanding indebtedness by $2.0 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.86%
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Rhea-AI Summary
Bitfarms Ltd. announces that its management and directors will ring the closing bell at Nasdaq MarketSite in New York's Time Square to celebrate its listing on Nasdaq and highlight its 2023 ranking as the 8th top performing stock. The event will be webcast live on January 30th, showcasing the company's transformational growth strategy and strong trajectory in the Bitcoin and mining industry.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3%
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Rhea-AI Summary
Bitfarms Ltd. completes the purchase of land for a new 100 MW production facility in Yguazu, Paraguay, expanding its LATAM portfolio with low-cost renewable hydropower. The facility is strategically located near the Itaipú Dam, positioning the company to benefit from abundant renewable energy resources. The new facility is expected to be sustainable both economically and environmentally, with over 85% of the company's portfolio powered by low-cost green energy. Bitfarms anticipates completing the facility's build-out in the second half of 2024 and aims to achieve a corporate hashrate of 21 EH/s by year end 2024. The company's goal is to deliver improvements in hashrate, energy efficiency, and cost per bitcoin, positioning itself well for the Halving and to capture upside from rising Bitcoin prices and mining economics.
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End-of-Day
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Rhea-AI Summary
Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF) appoints Tracy Krumme as Senior Vice President, Head of Investor Relations, bringing over 30 years of leadership experience in investor relations, financial communications, investment banking, and equity research. CEO Geoffrey Morphy expresses excitement over Tracy's strategic acumen and proven track record, while Tracy herself is impressed by Bitfarms' international management team and looks forward to enhancing fleet energy efficiency ahead of the next Bitcoin Halving.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.19%
Tags
management
Bitfarms Ltd.

Nasdaq:BITF

BITF Rankings

BITF Stock Data

747.56M
323.51M
4.71%
21.07%
8.04%
Data Processing, Hosting, and Related Services
Information
Link
Canada
Toronto

About BITF

bitfarms (otcqx: bllcf, tase: bllcf.ta) est une des plus importantes compagnies du domaine de la blockchain en amérique du nord. ses installations se trouvent au québec. bitfarms strives to develop the ecosystem growing around blockchain-based technologies. first public company in the blockchain operation and cryptomining world, bitfarms brings expertise that goes well beyond cryptomining. its teams design, build and manage farm operations and data centers, on top of handling energy logistics. bitfarms has a catalytic role in the ever-evolving digital landscape, it’s a part of what is changing the world’s inner workings.