Bitfarms Stock Price, News & Analysis

Bitfarms Ltd. (NASDAQ: BITF) will announce its fiscal Q3 2021 financial results on November 15, 2021, post-market. A conference call is scheduled for the same day at 5:30 p.m. ET, allowing for an interactive Q&A session where pre-submitted questions will be addressed. Participants can register via a provided link, and those unable to pre-register may dial in directly. A replay of the call will be accessible after its conclusion through January 15, 2021, along with a presentation of the financial results available in the 'Investors' section of the company’s website.

Bitfarms Ltd., a global Bitcoin mining firm, is expanding its operations with two new facilities in Sherbrooke, Québec, set for completion in phases during 2022. These facilities will add 78 MW of capacity, accommodating 21,000 new Bitcoin miners and generating about 2.1 EH/s. Utilizing cost-effective hydro power at only US$0.04 per kWh, the expansion aims to enhance Bitfarms’ overall mining capacity to 3 EH/s by Q1 2022 and 8 EH/s by end of 2022. The project reflects Bitfarms' commitment to sustainable and decentralized mining operations.

Bitfarms Ltd. has commenced construction on a new Bitcoin mining facility in Argentina, enhancing its global production capacity at a low-cost rate of US 2.2 cents per kilowatt hour. The facility is designed to host over 55,000 miners, including the latest MicroBT models, and is anticipated to add up to 210 megawatts of infrastructure by 2022. This strategic expansion aligns with the company's goal of reaching 8 exahash per second mining capacity by year-end 2022. Collaborating with experienced construction firms, Bitfarms aims to improve profit margins and operational efficiency.

Bitfarms Ltd. has expanded its Cowansville, Québec facility, increasing its capacity from 4 MW to 17 MW. The company has installed 450 Bitmain S19j Pro miners, raising its corporate hashrate to approximately 1.6 EH/s, up from 1.5 EH/s. This expansion represents a 19% increase in Bitfarms' operational mining infrastructure in Québec, now totaling 82 MW. With plans for further growth, Bitfarms aims to reach 3 EH/s by Q1 2022 and 8 EH/s by the end of 2022.

Bitfarms (NASDAQ: BITF), a leading Bitcoin mining company, reported a 38% increase in Bitcoin production, reaching 1,050 BTC in Q3 2021. This marks the company's highest quarterly production this year, with a total of over 2,300 BTC valued at approximately US $100 million. The company has been enhancing its mining capabilities and plans to increase its hashrate to 3 EH/s by Q1 2022, aiming for 8 EH/s by year-end 2022. The recent supply chain issues have slightly delayed miner deliveries, but overall growth appears strong.

Bitfarms announced the retention of LHA Investor Relations to enhance market awareness and communicate its growth strategies to investors. LHA will focus on expanding investor relations through targeted communications, roadshows, and capital market advice. The contract is valued at $20,000 per month for six months, and can be canceled after 90 days. Bitfarms is a Bitcoin mining company that operates over 99% on green hydroelectric power and aims to transition beyond a micro-cap company. This engagement is subject to TSX Venture Exchange approval.

Bitfarms Ltd. (NASDAQ: BITF) reported a strong Bitcoin production update as of September 1, 2021. The company mined 354 Bitcoin in August and has mined 745 Bitcoin in the current quarter so far. Year-to-date, Bitfarms has produced 2,102 Bitcoin and deposited 2,028 Bitcoin into custody, valued at approximately US$101.4 million. The company is set to receive new mining equipment to expand operations significantly and has signed a lease in Paraguay for additional hydroelectric capacity. Bitfarms aims for a total of 3 Exahash by Q1 2022 and 8 Exahash by year-end 2022.

Bitfarms Ltd. has signed a significant deal with the City of Sherbrooke, Québec, to develop 96 MW of hydropower rapidly. This move aims to enhance its Bitcoin mining capacity, targeting 3 Exahash by Q1 2022 and 8 Exahash by the end of 2022. The agreement will replace existing facilities with high-efficiency structures, addressing local sound concerns by relocating operations. CEO Emiliano Grodzki emphasized this as a beneficial arrangement for both the community and the company, reflecting Bitfarms’ commitment to social responsibility and sustainable energy use in Bitcoin mining.

Bitfarms Ltd., a leading Bitcoin mining company, announced that President Geoffrey Morphy will present at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13 to 15, 2021. The presentation will be accessible at 7 AM ET on September 13. Bitfarms, known for utilizing over 99% green hydroelectric power, operates five facilities in Québec and has recently expanded its market presence by trading on the Nasdaq. Investors can register for the conference and schedule one-on-one meetings with management through H.C. Wainwright.