Strategic Expansion | Bitfarms' acquisition of Stronghold Digital Mining set to triple capacity to 955 MW, marking a significant leap in operational scale and market position |
Power Play | Delve into Bitfarms' foray into power generation and energy trading, diversifying revenue streams and potentially hedging against crypto market volatility |
Competitive Dynamics | Explore the implications of RIOT Platforms' rejected takeover attempt and subsequent 10% stake acquisition in Bitfarms, introducing governance uncertainties |
Market Outlook | Analyst targets range from $2.30 to $4.00, reflecting varied perspectives on Bitfarms' growth potential amid industry challenges and opportunities |
Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada. It also undertakes hosting of third-party mining hardware. The company was formerly known as Bitfarms Technologies Ltd and changed its name to Bitfarms Ltd. in October 2018. The company was founded in 2017 and is based in Toronto, Canada.
Metrics to compare | BITF | Sector Sector - Average of metrics from a broad group of related Technology sector companies | Relationship RelationshipBITFPeersSector | |
---|---|---|---|---|
P/E Ratio | −7.8x | −2.1x | 11.3x | |
PEG Ratio | 1.19 | −0.03 | 0.01 | |
Price/Book | 1.8x | 1.4x | 2.4x | |
Price / LTM Sales | 4.8x | 2.6x | 2.1x | |
Upside (Analyst Target) | 109.4% | 80.2% | 22.8% | |
Fair Value Upside | Unlock | 18.4% | 5.5% | Unlock |