Bitfarms goes to Nasdaq! Finally, Bitfarms is the first Canadian cryptography operating stock becoming global!
While Bitcoin still consolidates between $ 50 and 60,000 USD, minor’s shares do not do much in terms of price movement. American shares Mara and Riot (Giant Crypto) are declining, negotiating in red almost every day. In the event that you follow the actions of Crypto, Mara and Riot have always been the industry giants, commander of the stock market capitalizations far superior to 4B and negotiating above $ 50 USD, a few weeks ago.
The same goes for history with Canadian minors – Hut 8, Hive Blockchain, DMG is also negotiated in a single figure. Except for a bitfarms.
Bitfarms has recently been in tears with consecutive but positive news from the public relations team.
Bitfarms hashrate goes to 3 eh / s by the Eoy and finally, Nasdaq News is also there!
Let’s start.
Bitfarms becomes global!
While Mara and Riot are negotiated in the Nasdaq (NCM) capital markets, Bitfarms has been approved for the world level of Nasdaq which is only one of NCM levels. What it means is that Bitfarms will be negotiated with people like Apple, Tesla, Amazon and other level A companies.
With Nasdaq, the new Bitfarms trading symbol will be bitf. The TSX-V Stock Ticker symbol will also change. So please note this.
In case you have invested in Bitfarms Previous American symbolWho is BFARF, do not worry, all your actions will be exchanged towards the new trading symbol which is BitF. The date on which Bitfarms will begin to negotiate on Nasdaq has not yet been announced. All we know for the moment is that the Nasdaq request has been approved. It could be a few weeks before the start of the actions.
Bitfarms Nasdaq News was published for the first time on Friday, concerning the approval of the request, but you must always wait for another official announcement on the date of start of trade.
While Canadian minor shares generally have a volume of around 2 million the best days of negotiation, the Nasdaq, you can easily expect Bitfarms to be negotiated around 10 to 20 m and more regular working days. And without forgetting that you will also have the hours after the hours and hours of pre-commercial negotiations.
Seriously congratulations to all shareholders and the management team. It was late.
Just in case you are wondering, Bitfarms is the first Canadian minor to hit the Nasdaq and that also at the right time when Bitcoin is still on the bull market. All I know is that Hut 8 and Hive also envisage the Nasdaq, let’s wait to see.
Other Bitfarms news for the pump in stock!
Bitfarms recently announced that they would increase the hashrate to 1.7 huh by the end of the summer and 2.5 huh by October 2021. Now, it’s fantastic too.
The PR also indicates that the current BTC difficulty, they will operate nearly 15.5 bitcoins per day from November 1.
Also note that the current Bitfarms hashrate is 1.42 huh and that they produce around 9 bitcoins per day.
Thus, given the cost of production of 1 BTC at 7,500 USD, and with the price of the BTC today around USD $ 58,000, they make around $ 450,000 in raw profits per day or 0.30 BPA (145 million shares in circulation).
From November 2021, this should be considerably higher.
Remember that the Eoy lens is still at 3 huh, which I think Bitfarms can easily reach.
Bitfarms Stock
Let us now quickly examine the Bitfarms action and how it has been negotiated since the Nasdaq announcement and before that (increase in the hash rate).
As you can see on the screenshot above, Bitfarms is now a billion dollars with a market capitalization of $ 1.20 billion.
See also the recent increase in action prices, action is currently negotiated at $ 8.32 Canadian.
Once the action is starting to negotiate on the Nasdaq, we can easily see the double or triple action compared to today’s levels with my price goal at $ 30 per Eoy. This is the price where Mara and Riot are negotiating today!
So, should you buy bitfarms at these levels?
My short answer is “yes”.
The Bitfarms price can easily 2x or 3x of these levels and with the Nasdaq list, the volume will only improve and the price can easily reach $ 30 per Eoy. It is therefore definitely a purchase.
In addition, Bitfarms has already announced its intention to increase the hashrate to 8 EH by EOY 2022. Management is extremely fast in decision -making and the company has its own internal team (Volta) to install new minors or repair if necessary. Remember the recent ad? Bitfarms has almost set up 500 new minors in one day! This is how fast the Volta team is (Volta is a Bitfarms subsidiary).
The other question remains – should you buy bitfarms or mara or riot?
Although Mara and Riot are massively decreasing, trading at USD $ 30, it is important to note that Mara and Riot have an increase in huge hash increases in the coming months.
Therefore, the distribution of your allowance in the three cryptography actions is the best option to minimize risks.
While Mara’s current hashrate is around 1.29 huh, they install new minors every day.
The Hashrate of Riot should be around 1.60 huh at the moment.
Also, remember that the following bitcoins occur in 2024 when the number of bitcoins will further reduce from 6.25 to 3.12 per block. Also pay attention to difficulty rates because minors at low chopping rate will ultimately be washed.
Final reflections
Bitfarms is one of the best cryptographic mining companies in Canada.
The CEO is very vigilant about what is happening in cryptographic space and the public relations team is just as excellent.
With the recent Nasdaq announcement, Bitfarms is the first of Canadian minors to be registered worldwide.
While Hut 8 and Hive will also be listed on the Nasdaq this year, Bitfarms is a little more active than its peers, in hash rate increases and announcements.
Personally, I like Bitfarms more than other cryptography actions in Canada. The management team is much better to listen to the feelings of investors and act accordingly.
Thank you for reading, let me know your thoughts and comments below.
