Bitfarms Ltd.: Optimistic With The Buyback Plan And US Exposure Into 2026
Main Idea
The article discusses the evolution of Bitcoin mining on an industrial scale and highlights the significant price increase of Bitcoin over the past five years.
Key Points
1. Bitcoin (BTC-USD) has increased by 967.82% over the last five years.
2. The author has more than five years of experience in the financial industry, focusing on commodities, foreign exchange, and cryptocurrencies.
3. The author also writes on general issues like equity research, economics, and geopolitics.
Description
Summary I rate Bitfarms as a hold, highlighting its upcoming share buyback and strategic US expansion as key growth drivers. Despite 32.8% YoY revenue growth, BITF's significant net losses and rising costs, especially from Argentina, weigh on near-term profitability. The Stronghold acquisition and US energy pipeline are expected to reduce costs and improve operational efficiency into 2026. BITF trades at a fair valuation with potential upside, but execution of the buyback and asset growth are cr...
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