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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
Bitfarms Earns 357 BTC in January 2024
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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News
Bitfarms to Ring Nasdaq Closing Bell on January 30th
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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none
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News
Bitfarms Purchases Land in Yguazu, Paraguay in Support of Transformative Fleet Upgrade & 2024 Target of 21 EH/s
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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News
Bitfarms Appoints Tracy Krumme as Senior Vice President, Head of Investor Relations
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
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News
Bitfarms to Present at the 26th Annual Needham Growth Conference
Rhea-AI Summary
Bitfarms Ltd. (NASDAQ: BITF // TSX: BITF) to Present at 26th Annual Needham Growth Conference on January 17, 2024
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.27%
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conferences
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Bitfarms Earns 446 BTC in December 2023 and 4,928 BTC for the Full Year 2023
Rhea-AI Summary
Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF) exceeded its guidance by increasing hashrate 44% YOY to 6.5 EH/s at Dec. 31, 2023, expanding total contracted capacity to 593 MW, and aiming to achieve 12 EH/s and 25 w/TH fleet efficiency in Q2 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.41%
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none
News
Bitfarms Earns 392 BTC in November 2023
Rhea-AI Summary
Bitfarms Ltd. (BITF) announces plans to upgrade its mining capacity, increase hashrate, and finalize a contract to expand its operations in Paraguay. The company also reported a decline in BTC production for November 2023 due to increased network difficulty.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
16.08%
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News
Bitfarms Announces Closing of C$60 Million Private Placement with U.S. Institutional Investors
Rhea-AI Summary
Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF) has successfully closed a private placement of equity securities, raising approximately C$60 million. The Offering included the sale of 44,444,446 common shares and warrants to purchase up to 22,222,223 common shares. The net proceeds will be used to acquire additional miners, expand infrastructure, and improve working capital.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.94%
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News
Bitfarms Initiates Transformative Fleet Upgrade that Supports 17 EH/s and 391 MW in 2024
Rhea-AI Summary
Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF) purchases 35,888 Bitmain T21 miners for $2,660 each, secures option for 28,000 more, aims for 17 EH/s by H2 2024. Special conference call scheduled for November 28, 2023 at 8:30 am ET.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
26.42%
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none
News
Bitfarms Announces C$60 Million Private Placement with U.S. Institutional Investors
Rhea-AI Summary
Bitfarms Ltd. (BITF) Enters into $60 Million Private Placement for Bitcoin Mining Expansion
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.76%
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Stock BITF logo
Bitfarms Ltd.

Nasdaq:BITF

BITF Rankings

#2739 Ranked by Market Cap
#1088 Ranked by Stock Gains
N/A Ranked by Dividends

BITF Stock Data

574.40M
324.25M
4.42%
19.61%
8.14%
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.