Bitcoin Miner Bitfarms Jumps 8% on Share Buyback Program

Description

Bitcoin mining firm Bitfarms (BITF) surged on Tuesday as the company announced to buy back up to 10% of its common stock's public float. The Toronto-based company said the buyback plan, beginning July 28, will let it acquire up to nearly 50 million shares on the open market through the Nasdaq and Toronto Stock Exchange over the next 12 months, with purchases subject to regulatory limits and daily volume caps. All repurchased shares will be cancelled. BITF shares rallied as much as 18% on the new...