Bitfarms Ltd (NASDAQ:BITF) shares are trading higher. The company on Thursday issued new guidance for 2025 after announcing an agreement to develop power capacity in Pennsylvania.
What Happened: Bitfarms announced an agreement to develop up to 120 MW of power capacity and lease a site in Sharon, Pennsylvania.
Bitfarms said the site offers access to competitive electricity supply and provides the opportunity to optimize and hedge energy costs effectively. The power supply dynamics specifically offer load flexibility suitable for Bitcoin (CRYPTO: BTC) mining, the company said. ...