Welcome to our dedicated page for Bitfarms Ltd. news (Ticker: $BITF), a resource for investors and traders seeking the latest updates and insights on Bitfarms Ltd. stock.
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.
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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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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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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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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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Rhea-AI Summary
Bitfarms Ltd. (BITF) Enters into $60 Million Private Placement for Bitcoin Mining Expansion
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Rhea-AI Sentiment
End-of-Day
-7.76%
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Bitfarms Ltd. (BITF) enters into a prepaid power contract with an Argentinian private power producer to receive 54 MW at Rio Cuarto at a fixed rate of 2.1 cents per kWh plus VAT from November 2023 through April 2024. This agreement aims to significantly lower the company's blended cost of power, benefiting from seasonally lower natural gas prices in Argentina.
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Rhea-AI Sentiment
End-of-Day
13.04%
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Bitfarms Ltd. reported revenue of $35 million, net loss of $19 million, and Adjusted EBITDA of $7 million for Q3 2023. The company earned 1,172 BTC and increased its treasury by 154 BTC to 703 BTC. Bitfarms' operating capacity grew to 6.3 EH/s by October 31, 2023, and the company is developing its operating capacity to 290 MW in Q1 2024, up 24% from Q3 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.86%
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Rhea-AI Summary
Bitfarms Ltd. increased its hashrate to 6.3 EH/s in October, reaching a total operating capacity of 240 MW. The company's operating capacity has increased by 31% compared to a year ago. Bitfarms also announced long-term and low-cost energy contracts totaling 574 MW, indicating room for further expansion. In terms of financials, the company has been focused on increasing its financial flexibility and strengthening its balance sheet while executing its growth plan. Bitfarms is well-positioned to invest for the remainder of 2023 and into 2024 and take advantage of disruptive opportunities around the April halving.
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Rhea-AI Sentiment
End-of-Day
4.76%
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Bitfarms Ltd. will report its fiscal third quarter 2023 financial results on November 7, 2023. Management will host a conference call to review the results.
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Rhea-AI Sentiment
End-of-Day
7.08%
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Rhea-AI Summary
Bitfarms Ltd. has fully energized the first phase of its farm in Baie-Comeau, Quebec, increasing its total operating capacity to 240 MW and its hashrate to 6.3 EH/s. The company plans to reach 11 MW by the end of Q3 2023 and add another 11 MW when power is made available in 2H 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
10.78%
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Bitfarms Ltd.
Nasdaq:BITF
BITF Rankings
BITF Stock Data
604.87M
324.25M
4.42%
19.61%
8.14%
Data Processing, Hosting, and Related Services
Information
United States of America
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.