Bitfarms: Holds Ground As HPC Permit Review Tests Its Pivot

2026-01-27 11:53:45 ET

Over the years, Bitfarms ( BITF ) hasn't been made the list of my favorite Bitcoin ( BTC-USD ) miners, but I’ve followed the company closely, hoping for a turnaround. I saw potential in mid 2024, when a hostile takeover bid was floated between Bitfarms and Riot , when Riot ( RIOT ) offered $2.30 per share for Bitfarms. One would have naturally thought the $2.30 price would have been the new floor for BITF. But that floor broke after the takeover offer was rejected and the stock slid below $1 at one point in 2025. I downgraded BITF to a Hold following the coverage around the takeover bid, and maintained a cautious Hold stance in my subsequent coverage of the stock throughout 2025....

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