Bitfarms Ltd (BITF)

[twister1]

Yeah good luck to you willy with your future picks in the market...
It is a pretty crazy (Game) we play/involved in.
Doing our dd/research on a company,industry,trends attempting to increase/make our financial security situation in life better. And have to deal with the curve balls, manipulations and the insider knowledge unknown to us the shareholder until.....
But it certainly is a solid way/shot at making good for ones family.
Know when to hold them, know when to fold them, know when to walk away, know when to run.... hahaha
Have a blast and enjoy the oxygen
Cheers to you willy.

[MADDSTACKER]

Did you see bmin … new mining stock … waiting for merger to finish

[hobowilly]

Nice entry on $RIOT and $MARA!!!!

It's hard to know who to trust when it comes to well, anything really!!!! Especially price predictions for Bitcoin. Everybody has a prediction, everybody has an agenda.
I found this math major guy on YouTube that is a real charts/Graphs/trends dude and goes out of his way *NOT* to make predictions. Yeah, he says things like "It's possible" which is true right? It's all possible but he really keeps his stuff quantifiable and over time he has proved his cred.

According to him, year-end $100k Bitcoin is possible but he will explain why it's possible. What has to happen.

Well, with Bitcoin taking a dip over the last 24 hrs and BITF doing what appears to be diluting equals a bad combination for me. I sold my position in $BITF in the Pre-Market because it just looks like a Gap-Down Stay Down Day, again.

I'll look for a reentry when the dilution eases up. Who knows, it's all a crap-shoot unless you're in the inside and you and I are *NOT* in the inside!!

GLTY It's a pleasure chatting with a civil human being twister, thanks for your civility.

[twister1]

I hope the bulls are correct about btc popping up within a year...
Would be, oh so sweet.
Yeah i got in to riot and mara (semi early at 7 bucks each)...
I'm in bitf at 3.60...
Wanting that 3rd muskateer to keep swinging that sword for a successful mining adventure. It would be nice to hit on all 3...
See how all looks in the spring of 2022
Cheers

[hobowilly]

ROTFLMFAO!!!!

The only difference is you have two BIG dog miners I just have 2 dog miners!!!!

The only connection these miners have to the price of Bitcoin is when Bitcoin falls. When BTC hit $50k+ My little doggies still went down.

Go figure.

$MARA & $RIOT are a little too expensive. Well I bought more shares of $BITF and $HUT but what good are they if they don't appreciate?

I really thought the 3 Canadian miners $BITF, $HUT, $HVBT would do quite well when they uplisted to The NAZ.

Still might I guess. I listen to some fairly practical minded guys on YouTube and they keep talking BTC @ $100k by year-end. If that happens it will surely lift all boats, even my little dingys but $100k? I have my doubts. That's a looooooooooooooong way from where we are now and we're in 3rd Q. Who knows?

Really, seems like Whales could push Bitcoin to $100k anytime they wish. The big money players surely have a plan(s) which we are to privy to.

We are just along for the ride.

[twister1]

My 2 big dog miners riot and mara continue to drill for the good stuff...
See if bitf can sharpen up their drill bits and make some progress.
The long run
Cheers

[hobowilly]

There's a reason Black Rock and Fidelity sink $100s of millions into $RIOT & $MARA

Both are up today, modestly, but GREEN as opposed to these Canadian dogs which are all down.

$BITF probably diluting investors as well. Why is it well run businesses don't need to dilute shareholders.

Rhetorical question of course, because they are "well run."

[hobowilly]

Yeah, watch for the huuuuuuuuuuuuuuuuuuge dump right at the close.

Our investment being stolen right out from under us.

Where's all the pre-open enthusiasm? Only negative miner today and no speculations or comments.

[hobowilly]

$RIOT up 4%, $MARA up 5.5%, $HUT up 5%, $BITF down 3.7%

Which one of these is unlike the others?

Bueller? Bueller? Anybody?

[hobowilly]

Cheeses man, are they frickin' diluting already?

What's going on here. Bitcoin teasing $50k and we're down 4.3%

Something does not compute here.

If it's not dilution, then WTF?

Opened @ $6.36 now $5,65? That's an 11% drop since the open.

Bitcoin $49.4k

Detailed Quote:BITF
BITFARMS LTD
5.68 Down -0.22 (-3.7288 %) AS OF 2:01:09PM ET 08/23/2021

Volume 7,413,538
Volume (10 day Average) 10,180,848
Volume (90 day Average) 2,941,916

NASDAQ
+230.85 (+1.57%)
14,945.52

This does not make sense at all, unless it's dilution?

Bueller? Bueller? Anybody?

[hobowilly]

Monday could see a nice pop if we head into the day w 50k BTC

Logical to assume, right? So what happened?
Mind blowing, right?

Detailed Quote:BITF
BITFARMS LTD
5.89 Down -0.01 (-0.1695 %) AS OF 11:52:30AM ET 08/23/2021

Maybe folks are adopting the Michael Saylor MicroStrategy approach?

Screw the miners, buy and hold the assets, Bitcoin and altcoins instead?

[Fishazo]

Monday could see a nice pop if we head into the day w 50k BTC

[hobowilly]

WOW, is Bitcoin going to hit $50k today.

Tough decision for some, not me, to sell, hold, or buy before the weekend.

Could be a heck of a Power Hour if the stars align correctly over the next couple of hours

[hobowilly]

Seems like the story usually goes like All Quiet on the Western Front until one, or two, companies make the first move then it's like the dam bursts and all that pent up M&A money (sitting on the "shelf"), pressure and fervor is released all at once.

Companies are also subject to FOMO when M&A, and consolidation of industries start snowballing

In other words, for me, it's just a matter of time, but when? Who knows.

[hobowilly]

If you listen to Michael Saylor's ideas on Bitcoin and investing strategy I don't think he is the least bit interested in the mining aspect of Bitcoin therefore I can't see MicroStrategy acquiring anything to do with mining.
IMO

[Fishazo]

Yes, offering sucks, but $500 mil will be used to expand company; CEO quote:
"From the beginning of 2021 through the end of 2022, we expect to have increased our capacity eightfold and have expanded our geographic resources throughout North and South America while
continuing to pursue opportunities elsewhere."

[Fishazo]

Nice to see end of day price rising instead of diving

[MADDSTACKER]

Waiting on micro strategy , to make first move

[hobowilly]

Never got into the "trading" or "options" things either. Too time consuming.

To me at the moment the scariest/dangerous part of this investment is... mining is "SO COMPLETELY TIED TO BITCOIN PRICE AND DIRECTION".

100% with you on that. IMHO it's due to a lack of education/DD on the part of investors. And not really investors per se. It's a continuous cycle of Dr. Jekyll and Mr. Hyde FOMO'ers an FUD'ers They're the same folks. Buy/Sell, Buy/Sell

All they read are 240 char tweets from the likes of Elon Muskrat, Michael Saylor, Jeff Bozo, e tal for investing advice. Case in point, look at the success of Dogecoin. A totally hollow coin but yet is mention in the same sentences with Bitcoin and Ethereum. Go figure.

I mean how could have Bitfarm's 2nd Quarter 10Q been any better? Where was the bump? None. It's easier to just look at $BTC and decide what to do.

[twister1]

*** STRAW POLL FOR BOARD MEMBERS ***

When do you think mining outfits will start Merging And Acquiring ???

2022
2023
Beyond That

[Dalian]

The HODL strategy seems to have a lot of currency right now with miners. But you still need to pay the bills and expand.

It is a strange business model to not sell what you produce on the premise it will have a higher price later. At some point that will need to be modified.

[twister1]

When i pick an outfit to invest in...
(I'm not a trader, although i know it's fun and exciting)
I stay for at least 1 year, longer preferably...(unless i feel shit hitting the fan - cut losses and get out). Luckily it has not happened to me very often.
Have to see what and how Emi and Nico run with the company.
To me at the moment the scariest/dangerous part of this investment is... mining is "SO COMPLETELY TIED TO BITCOIN PRICE AND DIRECTION".

The leadership team of the company could do the best job Humanly Possible running it,...
And if bitcoin price tanks to dirt... then shareholders own pennies.
Hahaha wowza, talk about rolling the dice.
Cheers

[hobowilly]

Amen twister. It's natural to sometimes become jaded. When you've seen the movie, or one very similar to it, 163 times you kinda get to know how it's going to turn out. Let's hope it's different here. I mean they had a pretty good Q2 so based on that, there should be no reason to think they're on the wrong track.

GLTY

[twister1]

Everything is okay here willy... i'm good with all your questions concerning the outfit.
Of course no shareholder likes dilution, yet at times if money used in a positive forward thinking way for the company so be it, verses just adding shares to float and "buying groceries"...
4 year old company with about 20 employees is what bitf is.
In "the wild west" volatile industry of bitcoin.(block chain/finance).
Certainly Very High Risk --- High Reward
Game they/we are involved in.

Personally i own and operate a small company for the past 42 years, and still rolling along...
These guys are in their 4th year and working with quite a bit of green already, including ours. Hahaha pretty wild in this young industry.
I'm taking a shot in success for these guys and us shareholders....
Bumpy and Exciting Ride.
Cheers

[hobowilly]

This is from the 2nd quarter 10Q

Completed a CAD$75 million private placement, bringing total gross proceeds raised for the year-to-date to CAD$155 million, and applied the majority of the proceeds to place deposits to secure orders for previously announced 56,300 new miners with expected deliveries in 2021 and 2022;

And this is new?

Separately, the company has entered into an at-the-market offering agreement on Monday, that would result in up to $500M in aggregate proceeds

total gross proceeds raised for the year-to-date to CAD$155 million
+ up to $500M = say $600,000,000.00 +/- now? Is that correct?

Pre-Market looking pretty bleak, here comes that 20 ton Gap-Down locomotive again. Should be arriving in the station in about 1 hour.
$5.30 -0.13 (-2.39%)
DATA AS OF AUG 18, 2021 8:33 AM ET - PRE-MARKET

[hobowilly]

Contrary to your handle you appear to be a level-headed individual and I value your civility.

Please don't take this the wrong way and I in no way intend to offend, BUT, (there's always a "but" and here it comes!!!!) I abhor that argument, "Well one can always sell and move on." Of course that is always an option but move on to what? The failure rate of public companies is far larger than the success rate.

There's no reason why Bitfarms and Hut and others should not become part of the "success" group. However, the methods they are pursuing are typical and not innovative and common practice in the OTC. You include a lot of hypotheticals in your argument. Yes, anything is possible. They just arrived on NASDAQ and waste no time going into dilution not allowing shareholders the opportunity to make some well deserved profits. Not allowing potential institutional investors to do some research I am not an institutional investor so I really don't know how they view this move, not very well according to the PPS movement.

These young companies have these visions of grandeur and what to see their companies listed on the Fortune 500 before their first annual report on the new trading platform.

When your favorite sports team makes a management decision, or new ownership comes in, or the coach/manager makes an on-field decision do you say that's it, I'm going to root for another team? Do you question and/or criticize the move?

So they don't want to sell and Bitcoin because they "believe" it's going to $100k? Why not take some profits, like a good investor does? What if the Bitcoin price instead goes to $10k? What's wrong with maintaining a little "cash" on hand?

As a young company you want to take risks, then stay private until you've proven yourself then go IPO and cash in. This let's go pubic and soak the shareholders is a bunch of BS. They don't say let's go public so we can enhance the value of our shareholders. They see shareholders as a resource and at times a liability, not as recipients of their benevolence.

If they paid a dividend that's a different story. But that happens less and less these days.

GLTY

[twister1]

Well one can always sell and move on... plenty to choose from.
Young, small company here.
What if they have an existing debt at 6% interest, and they just got capital at 2%, smart move to pay off that higher interest debt.
Don't want to sell their coin at 45k, when they're betting it to bevalued at 100k in six months.maybe smart again.
Maybe they are looking atbuying up or merging with your boys over at hut...
I just wonder what a young company will do. And how excited they must be able to actually qualify for that half a billion
.
Exciting times for a young outfit.
Cheers

[hobowilly]

I prefer companies that resort to dilution as a last measure. Not as a tool to be used for buying groceries and making acquisitions. Just as a good consumer knows, you stay within your limits. Steady and incremental growth will work every time,

This Mixed Shelf is a red flag not to be scoffed at.

[twister1]

Easy willy...
Hang in there
The wheel is turning.

[hobowilly]

plans to use for working capital requirements, funding ongoing operations, repaying debt outstanding, and completing future acquisitions.

Are they serious? Working capital/Funding ongoing operations?, in other words, if we don't we're going out of business?

Great, create more debt in order to pay off outstanding debt.

And of course we have no money to keep the lights on but we're always interested in future acquisitions.

What a F***k**g disaster. I mean they come right out and say it. This is terrible. How many Bitcoins are they sitting on? This is the consequence of HODL'ing. They mine and don't sell anything. There is no "product" to speak of. You mine precious metals, you turn the metal into something and sell it. You mine Bitcoin, and? You go into debt HODL'ing it?

[SurgeGuy2.0]

OUch......back under $6 and heading lower........sure sign of a pmp and dump! lolzzzzzzzzzz

[twister1]

Separately, the company has entered into an at-the-market offering agreement on Monday, that would result in up to $500M in aggregate proceeds that it plans to use for working capital requirements, funding ongoing operations, repaying debt outstanding, and completing future acquisitions.

I have a better grasp of that mixed shelf now....

[twister1]

Hey brother stack...
Are you reading this offering as ...
Approx. 85 million shares added = 500 million (straight dilution to float) Or:

Can they use that 500 million/ 85 miilion shares to work with?

[MADDSTACKER]

500 m stock sale ….

[hobowilly]

Glass half full guy, just what I need!!! Yeah, you're right. Maybe a few days of pain for some longer term gain?

Fact is Retailers need a break to take some profits of their own once in a while.

I was hoping to see $10 maybe this week or next. Doesn't look like that's gonna happen this month. Well, unless like you said, BTC crosses $50k

[twister1]

Yea, i know and i agree with the notion of company to shareholder relationships...
Just about any company doing a shelf offer, or secondary offers initially get sp decrease - instant knee jerk reaction...
A good time to buy ??? Haha
What if they use the shares to buy up one of those monster profitable chinese mining outfits ???
Oh the game we play...

Cheers

[hobowilly]

Shelf offerings also have this effect

Snapshot:BITF
BITFARMS LTD
6.47 Down -0.31 (-4.5723 %) AS OF 3:04:29PM ET 08/16/2021

And this is just the filing and before the actual dilution commences

WHOOPIE, a two fer

Investors pay now and they pay later.

Aren't we the lucky ones

And what's the hurry anyway? Why not let the PPS run for awhile?

Only been on NASDAQ a couple of months and already sticking it to shareholders.

Just proves once again companies do not give one teeny tiny little crap about shareholders. We're just the bottomless pit of $ resources.

If corp believes in the future of the company let the the PPS sell new shares and not through dilution.

They just suck, all of them. Every time the retail investor see a little sunshine somebody says, Whoa thar cowboy, not so fast, we got some dilutin' to do. They just suck.

[twister1]

Shelf offerings give the company the flexibility to get the paperwork out of the way now and then offer the shares only when it needs the cash or only when the market conditions are good. Shelf offerings can dilute existing shares considerably if the offering comes from the company because new shares are being created.

Shareholders never like dilution..BUT...
If done at good time market price wise and $ used for positive company reason, it's not awful at all.(ie. High%Debt paid or equipment purchase or a m/a) ???
Cheers

We'll see 9-10 bucks when btc hits 50k

[hobowilly]

BRIEF-Bitfarms Ltd Files For Mixed Shelf Of Up To $500 Million
BY Reuters
— 12:59 PM ET 08/13/2021
Aug 13 (Reuters) - Bitfarms Ltd ( BITF ):

* BITFARMS LTD FILES FOR MIXED SHELF OF UP TO $500 MILLION - SEC FILING Further company coverage:

Well, looks like investors don't like this too much.

[hobowilly]

Could we see $8 to $10 this week despite this news?

BRIEF-Bitfarms Ltd Files For Mixed Shelf Of Up To $500 Million
BY Reuters
— 12:59 PM ET 08/13/2021
Aug 13 (Reuters) - Bitfarms Ltd ( BITF ):

* BITFARMS LTD FILES FOR MIXED SHELF OF UP TO $500 MILLION - SEC FILING Further company coverage:

I hope the PPS is strong enough to survive this.
Bitcoin had got to stay strong.
If BTC can cross $50k then the Mixed Shelf Filing won't matter.
IMHO

[Chartmaster]

This is one HOT Bitcoin Play!

[SurgeGuy2.0]

NEW DILUTION NUMBERS ON MONDAY!

[twister1]

Hahaha....
My eye, my eye

[MADDSTACKER]

The tears they burn

[MERCURIAL]

Burning tears for the gap up Monday? We shall see. :)

[SurgeGuy2.0]

BACK Below $7! Pump and Dump SCAM!!! lolzzzzzzzzzz

[hobowilly]

FUBAR'ed

BRIEF-Bitfarms Ltd Files For Mixed Shelf Of Up To $500 Million
BY Reuters
— 12:59 PM ET 08/13/2021
Aug 13 (Reuters) - Bitfarms Ltd ( BITF ):

* BITFARMS LTD FILES FOR MIXED SHELF OF UP TO $500 MILLION - SEC FILING Further company coverage:

[twister1]

Just heard a news story on cnbc...
Gonna be harder to mine
7.3% harder (whatever that number means)
A bunch of China Miners are getting back online in other areas of the world...

Well i figure everyone assumed most of them would be back at some point in time...
Wonder if this will spark some "goofy people" to sell.
Don't be a jackwagon.
Hahaha be a winner Hold Em.

[twister1]

I think bitf will be a long winner...
Thinking 20 bucks by next spring...
Pending BTC ***+-+-+***
Just like riot and mara have been nice winners for me so far... ( we just don't know when the zombies will show up and try to eat everyone) hahaha

Not familiar with idex...
BUT there are and will be a heck of alot of winners in the broad range of the ev industry... plenty will fade/fail also.
I'll have to look into this one...
At the moment i have no dry powder for any new goody... boohoo.
Have a super weekend.
Cheers

[BottomBounce]

$BITF and IDEX ( Blockchain Fintech )

What are your thoughts?