Latest news with #Bitfarms'
Yahoo
6 days 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
Hamilton Spectator
07-05-2025
- Business
- Hamilton Spectator
Bitfarms Schedules First Quarter 2025 Conference Call on May 14, 2025
TORONTO, May 07, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global energy and compute infrastructure company, will report its first quarter 2025 financial results on Wednesday, May 14th before the market opens. Management will host a conference call on the same day at 8:00 am ET. All Q1 2025 materials will be available before the call and can be accessed on the ' Financial Results' section of the Bitfarms investor site. The live webcast and a webcast replay of the conference call can be accessed here . To access the call by telephone, register here to receive dial-in numbers and a unique PIN to join the call. About Bitfarms Ltd. Founded in 2017, Bitfarms is a global energy and compute infrastructure company that develops, owns, and operates vertically integrated HPC and Bitcoin mining data centers. Bitfarms currently has 15 operating Bitcoin data centers situated in four countries: the United States, Canada, Argentina and Paraguay. Powered primarily by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure. To learn more about Bitfarms' events, developments, and online communities: To learn more about Bitfarms' events, developments, and online communities: Investor Relations Contacts: Tracy Krumme SVP, Head of IR & Corp. Comms. +1 786-671-5638 tkrumme@ Media Contacts: Caroline Brady Baker Director, Communications and Marketing cbaker@
Associated Press
25-03-2025
- Business
- Associated Press
HIVE Digital Technologies Hopes To Quadruple Hashrate With Strategic Paraguay Deal, Receives Wall Street Endorsement
DETROIT, MICHIGAN - March 25, 2025 ( NEWMEDIAWIRE) - Since its launch in 2009, Bitcoin has sparked significant interest in blockchain technology and decentralized finance. At the same time, data center computing demand is surging. Companies poured hundreds of billions of dollars into data centers in 2024, and that pace is expected to accelerate in 2025. One company that operates at the intersection of both of these exciting technologies is HIVE Digital Technologies (NASDAQ: HIVE), a San Antonio, Texas-based data center leader. HIVE says it has gotten off to a running start in 2025 and has recently published its production update for February. A key highlight was the company's strong Bitcoin production, which aligns well with its bold expansion strategy, both internally and externally. Chief among these milestones was an update on HIVE's key acquisition of Bitfarms' hydro-powered Bitcoin mining assets in Paraguay, which the company hopes will set the stage for massive growth this year and beyond. HIVE's expansion drive coincides with increasing policy support for Bitcoin in the U.S., and HIVE's stock offers a way for interested investors to gain exposure to the Bitcoin mining sector. HIVE's Strategic Paraguay Deal In February alone, HIVE Digital Technologies reported that it mined nearly 90 Bitcoins, bolstering its portfolio to 2,620 BTC, which were valued at $220 million at last check, with BTC price being off its peak. The company has grown its Bitcoin holdings by nearly 25% year-over-year but also divested a portion of its holdings to support its strategic growth. HIVE directed the proceeds toward several acquisitions of hydro-powered Bitcoin mining assets in Paraguay, where it has set its sights on transformative future growth. HIVE has acquired a total of 300 MW of Bitcoin mining capacity in Paraguay, including 200 MW from Bitfarms, which is all expected to be operational in 2025, according to the company. 'In February, our executive team conducted a site visit to Bitfarms' Yguazú facility, gaining firsthand insights into its ongoing construction. We were extremely pleased with the progress we witnessed there and are excited to finalize the strategic acquisition of Bitfarms' 200 MW Yguazú site in Q1 2025,' said Luke Rossy, COO of HIVE. HIVE's investments in Paraguay have been game-changers, with the company marking 2025 as a transformative year for its growth. The strategic acquisitions in Paraguay are expected to quadruple its hashrate, a key measure of computational power that drives blockchain equation-solving and Bitcoin creation. When it comes to Bitcoin mining, efficiency is extremely important, as it determines outcomes like profits and the sustainability of the operation. According to HIVE Digital Technologies president and CEO Aydin Kilic, the company's '300 MW expansion in Paraguay to 4x our hashrate from 6 EH/s to 25 EH/s by September 2025 remains on track.' To support its growth plans, the company has also been expanding its internal team. HIVE Digital Technologies has appointed seasoned digital infrastructure executive Craig Tavares as President and Chief Operating Officer of its BUZZ HPC business segment, where it continues to drive innovation in high-performance computing and GPU cloud services. Tavares is tasked with growing the company's revenue to the $100 million threshold. HIVE Digital Technologies Stock 'Intriguing,' Says RosenBlatt Given the accelerated pace at which growth is unfolding at HIVE Digital Technologies, some members of the analyst community have been increasingly recognizing the stock's potential. Most recently, analyst firm Rosenblatt has jumped on the HIVE bandwagon, initiating coverage of the stock with a 'buy' rating and a $6 price target. Rosenblatt analysts find HIVE Digital Technologies' stock 'intriguing,' saying it's poised to 'enter an unprecedented growth phase' amid its ambitious goal to quadruple its hashrate, driven by its trio of newly-announced hydro-powered data centers. HIVE was an early mover in the Bitcoin mining space, a position that may provide a significant edge over competitors. The company highlights its proven ability to navigate shifting cryptocurrency market cycles, showcasing the financial discipline essential for success in this volatile sector. With Bitcoin mining expansion a key focus for 2025, driven primarily by strategic acquisitions in Paraguay, HIVE believes it is poised for remarkable growth, with its potential reaching new heights. HIVE Digital Technologies is extending an invitation to investors to attend a celebratory investor dinner in mid-April marking the company's U.S. headquarters' relocation to San Antonio, Texas – which it sees as the Bitcoin capital. Not only will shareholders be able to enjoy local cuisine and cocktails but they will be given the opportunity to connect with HIVE Co-Founder and Executive Chairman Frank Holmes. Investors can learn more about the company here.
Associated Press
20-03-2025
- Business
- Associated Press
Bitfarms Investors: Company Investigated by the Portnoy Law Firm
Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, March 20, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Bitfarms ('Bitfarms' or 'the Company') (NASDAQ: BITF) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Bitfarms investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to recover their losses. On December 9, 2024, after market close, Bitfarms issued a press release titled 'Bitfarms Announces Restatement of Previously Issued Financial Statements.' The company disclosed that its consolidated financial statements for the fiscal years 2022 and 2023 contained a material error related to the classification of proceeds from digital asset sales and would need to be restated. Additionally, Bitfarms identified an accounting error concerning the redemption of warrants in 2023, prompting further adjustments. Following this announcement, Bitfarms' stock price dropped 6% on December 10, 2024. Please visit our website to review more information and submit your transaction information. The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm's founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes. Lesley F. Portnoy, Esq. 310-692-8883 Attorney Advertising
