$BCHG is up 16.13% at $1.80.
$BITF gained 11.27% to reach $1.05.
$CIFR rose by 10.87% to $2.66, and
$WULF increased by 9.8% to $1.12.
All these stocks received a Bearish sentiment score .
Analysts recommend Strong Buy for Bitfarms Ltd and Cipher Mining Inc with price targets of $3.56 and $5.25, respectively.
Their next earnings reports are on November 13.
They need to start buying shares back .
$BITF, Bitfarms, a power generation and farming company, reported a 10% increase in its hashrate from Q1 to 5.3 EH/s in Q2, indicating expansion efforts. The company mined 1,223 bitcoins in Q2, with 383 in August, up from 534 in July. The year-to-date total is 3,281 bitcoins, higher than last year. Bitfarms sold off 323, generating $9 million, and added 60 bitcoins to its treasury, increasing its holding to 654 bitcoins. Cantor Fitzgerald analyst Josh Siegler believes Bitfarms has significant strength for next year, with a strong balance sheet and higher visibility to Argentina.
Well let's hope October is our month!!!!!!
Bitfarms Ltd NASDAQ: BITF
Information Technology : Software | Small Cap Blend | Based in CanadaCompany profile
Bitfarms Ltd. is a Canada-based is a global bitcoin self-mining company. The Company is primarily engaged in the cryptocurrency mining industry. The Company is running vertically integrated mining operations with onsite technical repair, data analytics and its own electrical engineering and installation services to deliver operational performance and uptime. The Company operates cryptocurrency mining operations in North America. The Company’s operations include Farnham, Saint-Hyacinthe, Cowansville, Magog, Sherbrooke 1&2, Washington, Paraguay, Sherbrooke Bunker, and Sherbrooke Leger.
In June, Bitfarms mined 385 BTC, demonstrating their expertise and dedication to the cryptocurrency industry. This significant amount of Bitcoin demonstrates their profitability and cements their reputation as a dependable and efficient mining operation. Bitfarms remains committed to thriving in the ever-changing cryptocurrency world.
It may well be that Bitfarm revenue growth rate of 50% over three years has convinced shareholders to believe in a brighter future. In that case, the company may be sacrificing current earnings per share to drive growth, and maybe shareholders' faith in better days ahead will be rewarded.
Bitcoin may break $25,000 soon. Watch BITF run. imo
Bitfarms, founded in 2017, now employs 50,000 miners across nine farms in four countries. The farms are powered by low-cost hydroelectric energy, which gives the company an advantage in an industry that has been chastised for its lack of sustainability. Its proprietary software and innovative management team promise global expansion, making it one of the best bitcoin mining stocks to invest in today. Bitfarms were also one of the best performing mining stocks in 2022, with the smallest declines.
The cryptocurrency crash has presented an attractive investment opportunity in crypto stocks. Bitfarms (NASDAQ:BITF) stock traded at 52-week highs of $9.4. The stock trades below $1 and is worth considering among penny stocks to buy. Bitfarms continues to expect steady growth in capacity in the coming quarters. Digital assets are likely to swell further in the next year. This has translated into healthy growth in Bitcoin (BTC-USD) mined for year-to-date 2022. As of September 2022, the company reported 2,065 Bitcoin in its balance sheet. Once Bitcoin reverses, BITF stock will be positioned for a meaningful rally.
Amending the BTC-backed loan that was to mature June 30, 2022, extending the maturity by three-months for a maximum of US$40 million, of which US$38 million is currently outstanding, at an interest rate of 11.25%.
Selling 3,352 BTC during the month for total proceeds of US$69 million, a portion of which was used to pay down the BTC-backed facility.
All these HODL miners are contributing to the weakness in the BITC price because these guys are being forced to sell now. At some point, this selling would lighten up and new traders/investors in Bitcoin get encouraged that they are not buying into a Falling Knife scenario.
www.bitcointreasuries.net has a list of the HODL miners.
The companies that are NOT on this list that have been selling their bitcoin as they go along. They have been the smart guys. They will be buying cryptomining machines in the spot market--because they have cash and not depreciated bitcoins.
this article is old. reference to January 2022 ...
Bitfarms Purchases 48,000 Bitcoin Miners, Plans to Increase Hashpower by 5 Exahash
The publicly listed Canadian bitcoin mining operation Bitfarms has announced the firm is purchasing 48,000 Microbt Whatsminer mining rigs in order to expand capacity. Bitfarms highlights the acquisition of new miners will up the company’s hashpower by approximately 5 exahash per second (EH/s).
The Canadian bitcoin (BTC) mining company Bitfarms (TSXV:BITF, OTC:BFARF) announced on Tuesday the company has entered an agreement where it plans to purchase 48,000 mining rigs manufactured by Microbt. The China-based firm Microbt is the manufacturer of Whatsminer devices, which are some of the most powerful application-specific integrated circuit (ASIC) machines in the world. For instance, the company’s Whatsminer M30S++ is the most-profitable SHA256 ASIC miner on the market today according to current data.
Bitfarm’s announcement on Tuesday explains that Microbt has become the firm’s “supplier of choice.” During the last eight months, Bitfarms said it acquired 12,000 machines from the Chinese mining rig manufacturer. Bitfarms stressed that the firm expects the mining rig shipments to begin “on or before January 2022.” “The miners will be installed at our existing and new facilities which are currently in development,” the company said. Microbt said the mining manufacturer looks forward to providing the 5 EH/s worth of miner to Bitfarms.
“We are very excited to enhance and expand our partnership with Bitfarms,” Vincent Zhang, Microbt’s global sales director said during the purchase announcement. “The miners to be supplied to Bitfarms are very reliable and stable. These miners will generate tremendous value to Bitfarms in its mining operations and [to] its investors,” Zhang added.
Bitfarms CEO Alludes to the global Shortage of Semiconductor Wafers
Furthermore, the CEO of Bitfarms, Emiliano Grodzki, explained the acquisition helps during a time of excessive demand for ASICs.
“The supply of miners will be one of the greatest challenges for the foreseeable future due to a global shortage of wafers used to create semiconductor chips which is a vital component in mining rigs,” Grodzki detailed. “Our strategy will be to continue to grow our own infrastructure and professional operations and conduct mining in our own facilities which increase operational efficiency and profitability,” he added.
News.Bitcoin.com reported last week that Chinese mining manufacturers are hard-pressed from demand and nearly every manufacturer of next-generation rigs are completely sold out. Even the Bitfarm announcement itself notes that delivery is slated for at least by or in January 2022 and “the final mining rigs expected to arrive in December 2022.” Many publicly listed mining firms have leveraged their massive buying power in order to procure ASIC mining rigs in advance.
Moreover, Bitfarm’s 48,000 Microbt Whatsminer rig purchase, is the second-largest mining acquisition since Marathon Patent Group settled a record-breaking purchase for 70,000 high-performance Bitmain Antminer S19s at the end of 2020. Bitfarm’s deal announcement with Microbt did not disclose a dollar-purchasing amount for the 48,000 miners. Marathon did disclose in December that it spent $170 million in its agreement with the Chinese mining rig manufacturer Bitmain.
Not bothered: Miners ‘not impacted by volatility’ in Bitcoin market
In the face of extreme fear in the Bitcoin market, miners are unfazed and may even welcome a downturn as it opens up the opportunity to gain more hashing power.
Despite the steadily declining prices of Bitcoin (BTC) and turmoil on the markets today, some of the largest mining companies are unfazed and insist their operations will not be affected by negative price volatility.
Some even see it as an opportunity to gain market share as smaller competitors collapse.
Bitcoin prices have been on a steady decline all year up to the past 24 hours, when the crash accelerated to reach the lowest point since December 2020. However, miners have not been deterred amid that tremendous pressure. Some may even have more fervor for mining if the downtrend in Bitcoin continues through 2022.
Each of three different mining operations — two large public companies and one private mining company — that Cointelegraph reached out to shared chilled emotions about the prospects of a bear market. They believe it will have little to no effect on their business plans.
Bitcoin miner Marathon Digital Holdings said that its “asset-light strategy” will keep it insulated from nearly all the effects of a bear market. Charlie Schumacher, vice president of corporate communications of Marathon Digital, told Cointelegraph that it maintained a cost basis of about $6,200 per BTC mined in Q1 by “outsourcing the muscle of our operations and keeping the intellectual power within the firm.”
Marathon is the third-largest holder of Bitcoin among public companies, according to BitcoinTreasuries. It has the capacity to generate 3.9 exahashes (EH/s) of hashing power. Marathon Digital stocks are down 15.42% and are trading at $9.97 in after-hours trading. It is down 92.6% from its December 2014 high of $134.72.
Schumacher added that the exit of other miners due to capital constraints during bear markets creates an opportunity for larger operations like Marathon’s, which can take advantage of lower mining difficulty from a decrease in hashing power and competition on the Bitcoin network:
“As the hash rate declines, there’s a downward difficulty adjustment, which decreases the energy expense for miners who remain hashing. Those who are left standing can therefore benefit by potentially earning more Bitcoin.”
Cointelegraph also received responses from Jason Les, CEO of Riot Blockchain — another large mining company. It currently holds the eighth-most BTC among public companies, according to Bitcoin Treasuries. It controls 3.9 EH/s of hashing power as of March 4 but did not disclose its cost per coin mined.
Riot Blockchain stocks are down 9.16% and are trading at $6.83 in after-hours trading. It is down 90.5% from its February 2021 high of $71.33.
Les also appeared nonchalant about current and future Bitcoin market volatility. Like Marathon and Redivider, Les pointed to his company’s “strong balance sheet with no long-term debt” as key strengths it can rely on from a business perspective. He added that “changes in Bitcoin market conditions do not impact our miner deployment plans, so we continue to grow our hash rate monthly:”
“Riot’s miner deployment plans are not impacted by volatility in Bitcoin, we are focused on building a sustainable business that operates in array Bitcoin market conditions.”
Tom Frazier, CEO of Redivider, is also untroubled by the prospect of a further prolonged downturn. Redivider is a privately-run data center provider for Bitcoin mining operations specializing in Opportunity Zones designed to benefit workers in underprivileged regions of the United States.
The core of Redivider’s 1.5-year-old business is in managing data centers whose Bitcoin hashing power can be rented by mining companies for a fee. Frazier told Cointelegraph on a Wednesday call that if its data centers have no renters at a particular time, Redivider can maintain a revenue stream for all of its facilities at any given time by assuming the hashing power and block rewards for themselves.
He did not disclose what Redivider’s basis price per Bitcoin mined was nor how big its operation is, but he assured Cointelegraph that “our BTC production price won’t be impacted.”
Frazier said that downturns in the Bitcoin market “have little impact on what we do due to our 10-year plan:”
“Corrections in the market are happening because BTC is very volatile, which is in line with any other volatile asset class. That volatility will not impede our strategy. These moments present opportunities.”
Considering the present turmoil in the crypto markets following the collapse of the Terra project and Bitcoin currently trading at $28,931, its lowest level since January 1, 2021, according to CoinGecko data, it may become rapidly apparent whether miners can pounce on the opportunity at their doorsteps as they claim.
Bitcoin Interview with MSTR
if we let go of...
93% of our employees
would our sp go up to mara and riot levels
ok good to see thanks
BitFarms Bulls Buy The Dip Following Bitcoin, Ethereum Flash Crash
Now these are stats I like, so I'm sticking to this company and am adding on any selloffs into two accts., as I did this week.: Canadian BTC mining giant, Bitfarms Ltd's (BITF) price return over the past year stood at +1,166.67% with a market cap of $1.44 billion.
Suggestions for best crypto exchange in the US?:
First, BITF, is my favorite of the miners. Others are good, but IMHO BITF is the best, so it is my largest position. This cycle I am just going the miner route, but want to select and set up my first exchange account to get ready for the next cycle, or maybe to move some into this cycle if it carries on into 2022.
Now, I have been going round and round about what crypto exchange would be best to set up an account with here in the US, afraid to make a wrong decision. Coinbase? Genesis? Kraken? Other?
Or, what about brokers like Tradestation or other newer entrants into the space?
And, excuse my ignorance, but is it best to get an exchange account first, or go for a wallet first, and sign up for whatever exchange the wallet uses? Or other? There are so many wallets out there, so many advertising, and apparently I am learning that not all exchanges allow the transfer to outside non-custodial cold wallets, so that might be a factor as well.
Thanks for any suggestions, with explanations!!!!
Bitfarms Ltd. (NASDAQ: BITF) (TSX.V: BITF) CEO Emiliano Grodzki: "Bitcoin Miner Consolidation Is Coming - We're Shopping for Acquisitions"
"...Today, we have a combined total of 10 farms in operation and development, with planed capacity of 404 megawatts and 48,000 miners slated for delivery in 2022. With our strengthened balance sheet and flexible capital plan, we are well positioned to reach our targeted exahash rate of 3 by March 31, 2022, and 8 by December 31, 2022....We've been actively looking at opportunities to buy companies and assets going back to last December. We only closed on