Bitfarms Ltd (BITF) Q3 2024 Earnings Call Highlights: Strategic Expansion and Efficiency Gains ... [Yahoo! Finance]
Bitfarms Ltd. (BITF)
Company Research
Source: Yahoo! Finance
Bitfarms Ltd ( NASDAQ:BITF ) successfully upgraded 10 data centers and added three new ones, significantly increasing their hash rate by 83% to 11.9 X A hash. The company improved its efficiency by 40%, reaching its year-end efficiency goal three months ahead of schedule. Bitfarms Ltd ( NASDAQ:BITF ) announced the acquisition of Stronghold Digital Mining, marking the largest acquisition in the Bitcoin mining sector between two public companies. The company has a strategic growth plan to expand its megawatt pipeline from 324 megawatts to 950 by the end of 2025, with potential growth up to 1.6 gigawatts. Bitfarms Ltd ( NASDAQ:BITF ) is diversifying its portfolio beyond Bitcoin mining, exploring high-growth areas such as hosting, HPC, AI, and energy generation. Bitfarms Ltd ( NASDAQ:BITF ) experienced minor construction delays and shipping issues, impacting their ability to meet the mid-year hash rate target. The company reported a net loss of $37 million for Q3, an increase
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BITF
News
- Do Redditors Think That Bitfarms Ltd. (BITF) Has a Big Upside Potential? [Yahoo! Finance]Yahoo! Finance
- Tribunal rules crypto company’s takeover defence offside [Investment Executive - News]Investment Executive - News
- Bitfarms Announces Results of Special Meeting of Shareholders [Canadian Business Journal (Canada)]Canadian Business Journal
- Bitfarms Announces Results of Special Meeting of ShareholdersGlobeNewswire
- Market movers: Stocks seeing action on Wednesday - and why [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
BITF
Sec Filings
- 11/13/24 - Form 6-K
- 11/12/24 - Form 6-K
- 11/7/24 - Form 144
- BITF's page on the SEC website