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Bitfarms Ltd. (BITF), a global cryptocurrency mining company, has seen its stock price tumble to a 52-week low, reaching $1.28. According to InvestingPro data, the stock shows high volatility with a beta of 3.22, though the company maintains a strong liquidity position with a current ratio of 3.7. This latest price point reflects a significant downturn for the company, which has experienced a -57.12% change over the past year, despite posting impressive revenue growth of 43.88%. The steep decline in Bitfarms’ stock value mirrors the broader challenges faced by the cryptocurrency industry, including regulatory pressures and fluctuating crypto asset prices. InvestingPro analysis suggests the stock may be slightly undervalued at current levels, with 14 additional ProTips available for subscribers. Investors and industry watchers are closely monitoring the company’s performance as it navigates through these turbulent market conditions. For deeper insights into BITF’s financial health and market position, investors can access comprehensive Pro Research Reports available exclusively on InvestingPro, covering over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, HIVE Digital Technologies Ltd. is set to acquire the Yguazú 200 megawatt hydro-powered Bitcoin mining facility in Paraguay from Bitfarms Ltd., valued at $56 million. This acquisition will increase HIVE’s global Bitcoin mining hashrate from 6 Exahash per second (EH/s) to an anticipated 25 EH/s by September 2025. Upon completion, HIVE’s operational capacity in Paraguay will amount to 300 MW, with its global capacity reaching 430 MW by the third quarter of 2025. Meanwhile, Bitfarms Ltd. reported a 97% year-over-year increase in hashrate, reaching 12.8 EH/s, and a 40% improvement in efficiency, now at 21 watts per terahash. The company produced 2,914 bitcoins in 2024 and expanded its operational megawatts by 35% to 324 MW. Furthermore, Bitfarms is preparing for its acquisition of Stronghold Digital Mining, expected to close in the first quarter of 2025. In a separate development, cryptocurrency-related stocks, including HIVE and Bitfarms, experienced gains following Bitcoin’s surge above $100,000. This market reaction is linked to President-elect Donald Trump’s appointment of Paul Atkins as the new Chair of the Securities and Exchange Commission, signaling a potential shift in regulatory approach.
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