Bitfarms Plans Share Buyback Amid Strategic Shift Toward Bitcoin Mining and AI Infrastructure
Main Idea
Bitfarms has approved a share buyback program to support its strategic shift towards Bitcoin mining and AI, leveraging its energy assets and US expansion for future growth.
Key Points
1. Bitfarms received TSX approval to repurchase up to 10% of its public float (49.9 million shares) over 12 months, starting July 28, 2025.
2. The company reported a $36 million net loss in Q1 2025 but maintained a 63% gross profit margin, up from 43% year-over-year.
3. Bitfarms secured a $300 million credit facility from Macquarie to expand its high-performance computing (HPC) capabilities in Pennsylvania.
4. The company is transitioning to focus on AI and HPC, leveraging its energy portfolio for cost-effective operations and scalability.
5. Bitfarms' US expansion aims to diversify its market presence and capitalize on the growing demand for AI infrastructure services.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitfarms announces a
Latest News
- BYBIT LISTS DIAUSDT PERPETUAL CONTRACT2025-07-23 08:17:38
- $DIA listed on Bybit futures2025-07-23 08:17:19
- Binance to Delist GPS/FDUSD and HIVE/FDUSD Spot Trading Pairs by July 25, 20252025-07-23 08:17:04
- Ethereum Whale’s Large Withdrawal from Kraken Suggests Possible Long-Term Holding Strategy2025-07-23 08:16:49
- Binance May Expand Trading Options with New PENGU USDⓈ-Margined Perpetual Contracts and 75x Leverage2025-07-23 08:01:55