- Bitfarms has consistently seen downside pressure as of late due to a heavy correction in the crypto market and its correlation to the price of bitcoin.
- The BITF stock has become more attractive as it hit a 52-week low on May 6, 2022, at a price of $2.71/share. It was down around 46% year-to-date.
- The use of hydroelectricity for its operations places BITF in a unique space vs. other significant competitors in the clean bitcoin mining space.
- With 9 computing centers spread across Canada and the United States, and 4 larger centers in the pipeline, there is massive growth on the horizon for the company.
- With a market cap of just over $520 million, the company's 3.3 EH/s hash rate positions BITF competitively against market leaders such as RIOT and MARA.
For further details see:
The Bullish Potential For Clean Energy Bitcoin Miner Bitfarms Ltd.