Latest news with #Bitfarms
Yahoo
3 hours ago
- Business
- Yahoo
Crypto ETFs in Focus as Bitcoin Mining Boosts AI Infrastructure
As artificial intelligence (AI) reshapes the digital economy, high-performance computing (HPC) is proving essential to meeting the surging demand for computational power. Bitfarms, a Bitcoin mining company, is positioning itself at the intersection of AI and energy infrastructure. In a recent interview, Ben Gagnon, CEO of Bitfarms, shared insights on how the company is expanding its capabilities beyond crypto mining to support AI workloads, particularly amid growing energy demands. Historically, Bitfarms focused on building data centers tailored for Bitcoin mining. However, as Gagnon noted, the economics of the data center business — particularly in the AI space — are significantly more attractive. "Most Bitcoin mining companies trade at a three to five times multiple," he explained, "whereas data center companies can trade at 20 to 30 times due to their contracted, long-term revenue certainty," as quoted on Yahoo Finance. This difference in valuation is driving companies like Bitfarms to evolve, capitalizing on their existing infrastructure and expertise to enter the rapidly growing HPC and AI markets. Gagnon emphasized that as NVIDIA continues to expand GPU sales, the need for infrastructure — the power and space to support those chips — will rise remarkably. While traditional data center firms have built large portfolios of small sites, Bitcoin miners have done the opposite: small portfolios of massive, power-dense facilities. That scale, Gagnon argued, is exactly what's needed for tomorrow's AI demands. Gagnon drew parallels between NVIDIA's technological leadership and the broader industry's growth trajectory. He noted that NVIDIA was a critical player during the early days of crypto, and that the broader industry followed its lead with a lag. He pointed to the launch of ChatGPT as a turning point in public understanding and adoption of AI. Before then, HPC and AI felt abstract to most. The launch of ChatGPT is almost like a gold rush in AI innovations. As AI continues its relentless expansion, companies like Bitfarms are uniquely positioned to meet the demand, not just with physical infrastructure, but with an understanding of energy-intensive computing. iShares Bitcoin Trust ETF IBIT, Fidelity Wise Origin Bitcoin Fund FBTC and First Trust SkyBridge Crypto Ind and Digi Econ ETF CRPT are some of the ETFs that come under the spotlight against the above developments. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT): ETF Research Reports This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Bitfarms (TSX:BITF) Reports Q1 2025 Sales Increase From US$50M To US$67M
Bitfarms recently reported a significant increase in sales for Q1 2025, rising to USD 67 million from USD 50 million the previous year, yet the company also announced a net loss of USD 36 million. This period revealed a lower Bitcoin production and a class action lawsuit related to financial reporting missteps. Despite a generally strong market with the S&P 500 showing positive momentum, Bitfarms' share price fell by 11% over the past month, likely influenced by these challenges. The legal issues and operational setbacks may have weighed on its performance, countering broader market gains. We've spotted 4 possible red flags for Bitfarms you should be aware of, and 2 of them are concerning. Trump has pledged to "unleash" American oil and gas and these 22 US stocks have developments that are poised to benefit. The recent news of Bitfarms' significant sales increase to US$67 million for Q1 2025 contrasts with a net loss of US$36 million, highlighting both operational improvements and financial strains. This mix, along with reduced Bitcoin production and a class action lawsuit, has played a role in the stock's 11% price decline over the past month. Over a longer term, however, Bitfarms delivered a total return of 162.50% over five years, illustrating considerable growth, though recent challenges have hindered its short-term stock performance relative to broader market gains like the S&P 500. The recent setbacks could also impact future revenue and earnings forecasts. Analysts estimate the company's revenue will grow by 43.9% annually, but Bitfarms must overcome regulatory and operational hurdles to meet these projections. Additionally, current share price of CA$1.4 shows a significant discount to the CA$3.75 price target, indicating potential upside if the company resolves its current challenges.** Our expertly prepared valuation report Bitfarms implies its share price may be lower than expected. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include TSX:BITF. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Bitcoin Mining Profitability Improved in May, JPMorgan Says
The total market cap of the 13 U.S.-listed miners that JPMorgan tracks rose almost 20% in May, as bitcoin BTC rallied and mining profitability increased, the bank said in a research report Monday. The Bitcoin network hashrate rose about 25 exahashes per second (EH/s) to an average of 897 EH/s last month, according to the report. The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty. Mining profitability improved in May. The bank estimated that "bitcoin miners earned an average of $51,600 per EH/s in daily block reward revenue in May, up 16% from April," analysts Reginald Smith and Charles Pearce wrote. Daily block reward gross profit also increased substantially, jumping 36% month-on-month to $27,900 per EH/s, the bank noted. IREN (IREN) outperformed the group with a 37% rise, and Bitfarms (BITF) underperformed with an 8% decline, JPMorgan said. Seven of the thirteen bitcoin mining companies that the bank tracks outperformed bitcoin last month, the report in to access your portfolio
Associated Press
2 days ago
- Business
- Associated Press
ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Bitfarms Ltd. Investors to Secure Counsel Before Important Deadline in Securities Class Action
New York, New York--(Newsfile Corp. - June 1, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bitfarms Ltd. (NASDAQ: BITF) between March 21, 2023 and December 9, 2024, both dates inclusive (the 'Class Period'), of the important July 8, 2025 lead plaintiff deadline. SO WHAT: If you purchased Bitfarms securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Bitfarms class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Bitfarms maintained deficient internal controls over financial reporting; (2) as a result, Bitfarms incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities; (3) in addition, Bitfarms overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants; (4) the foregoing errors caused Bitfarms to misstate various items in several of Bitfarms' previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; and (6) as a result, Bitfarms' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Bitfarms class action, go to call Phillip Kim, Esq. toll-free at 866-767-3653, or email [email protected] for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: or on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] To view the source version of this press release, please visit
Yahoo
4 days ago
- Business
- Yahoo
How bitcoin miners are powering the AI boom
Some bitcoin (BTC-USD) miners are pivoting to artificial intelligence (AI) as the rapidly evolving tech's data center and power demands expand. BitFarms (BITF) CEO Ben Gagnon joins Catalysts with Madison Mills and Interactive Brokers chief strategist Steve Sosnick to dive into the phenomenon. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. Well, high performance computing plays a critical role in the world of artificial intelligence, providing the computational power needed to train, deploy, and scale intelligence systems quick and efficiently. The video's results bring into focus the power demands needed to support AI. Joining us to discuss about Ben Gannon. He's Bitfarm's CEO. Bitfarms is a Bitcoin mining company that is expanding existing data centre infrastructure to support HPC and AI. Workloads to meet the growing energy demands of the industry. Ben, it's always great to speak with you. We were just talking on set about how we kind of need to see the proof in the pudding when it comes to AIROI, and you are a great person to talk to about this. How and where are you seeing the investment in AI playing out in terms of high performance computing and infrastructure going forward? It's a great question. You know, for a company like us who've really been focused on building data centres for the last few years that were powering Bitcoin, uh, I think the important thing to focus on is what does these uh new business fras mean for your multiple and your evaluation? And as a Bitcoin miner, most companies in our space usually trade around a 3 to 5 times multiple, but data centre companies trade around a 20 to a 30 times multiple. So because of those contracted revenues, because of that certainty over the long period of time, you're able to unlock a lot of value for shareholders and so on, I think for the investors who are looking around at HBC and AI and trying to figure out where are the opportunities after Nvidia has had such a huge run up over the last 10 plus years. You know, where else are you going to get those those opportunities, and the reality is that as Navidia continues to sell more GPUs and as these GPUs consume more and more power, it's really the infrastructure which is going to be the bottleneck and the really key element here that's going to enable all these companies to benefit from AI. And to the question of which companies benefit from AI one thing we've been circling this morning is the idea of digital assets benefiting and cryptocurrency players benefiting as well. How are you seeing that relationship developing going forward? Oh, it's completely changed the industry almost overnight, you know, 12 months ago there were very few companies that were looking away from pivoting from Bitcoin mining and crypto into HBC and AI, but the math is really, really compelling. And when you look around at the data centre companies that exist today, there's kind of two buckets. You have the traditional data centre companies who have really been focused on building large portfolios of small sites, and then you've got the Bitcoin miners who were focused on building small portfolios of large sites. And when you look at what the data centre needs are for not only for today but for the future, you know, the reality is there's no data centre that's built today that's going to power the GPUs of tomorrow. And so the scale that Bitcoin miners have gives a very, very fast pathway and a very more cost effective approach towards building that new infrastructure a lot faster. And Ben, my co-host for the hour, Steve Salznick has a question for you as well. Hi Ben. The, the, you know, the thing that strikes me here is Nvidia, call it 34 years ago, was really the all-in company during the first sort of, I'm sorry, Bitcoin run in the first crypto run. It's almost like the, the industry's following Nvidia just a little bit late. Am I wrong in thinking that's, you know, that that that analogy is, is, is correct or incorrect, that it's sort of, you know, Nvidia, Nvidia sets the path and, and, and the, and the people who use their chips, uh, into extensively follow along. Well, Nvidia is, is really setting the pace here in terms of the technological development of these chips, um, but you know, computing is something that's growing at an exponential rate for the last 80 years since it was invented, you know, with Alan Turing and the Enigma machine in World War II. Um, you know, with Bitcoin mining, you know, we've had the very, very fast growth rate over the last 16 years and so there's a lot of things that are taking place right now where, um, the math is just really, really changing at such a point. Such a fast pace that you need to be agile, you need to be able to adapt. You need to be able to change your approach to the changing market demands because, you know, HPC and AI before Chat GPT was really for most people, a theoretical thing, um, but when Chat GPT came out and you had a consumer facing application, it became very real and very tangible for people, and that seemed to spark a gold rush, but, uh, I think from where I'm standing and from the customers' conversations that we're having. You know, the demand is is just infinite, and we really have barely even begun to scratch the surface of what's possible here with these new chips and this new kind of computing. And I hear you that you're seeing that demand be infinite, but one of the key questions for investors is whether that demand is going to be infinite for Nvidia. If we do see soft earnings results from Nvidia this evening, how does that impact your business and your confidence in that demand picture for AI? Well, the bottleneck on growth for Compute has always been power outside of the silicone shortage of 2021. So chips are available, they're always going to be available, and Nvidia develops at such a fast pace that you know there's a new generation of chips roughly every 12 months. But at the back end you always need to have the power to plug in those chips and operate them so that you can actually. value out of them and you can generate that return on your investment in the GPUs. So from our side, we haven't seen any reduction in demand even when the Deepse news came out a couple of months ago, there was no reduction in demand. There was no slowing down of these infrastructure buildouts because they're something that may be taking 2 to 5 years to build out one of these large data centre campuses, and you really can't get distracted by a headline that's going to put you back. Ben, really appreciate you joining us and giving us that context. Thank you so much. Thanks for having me.
