Bitfarms is seriously undervalued and is an excellent purchase at current levels. Consider their PH / MC ratio below:
While Bitfarms officially announced its approval from the Nasdaq request, we are still waiting for the date of the final registration date.
Please note, trading symbols will also change in the United States in Bitf.
The Canadian symbol will remain the same. No change here (TSX-V).
In this article, I want to talk about the Bitfarms stock quickly and the upcoming hashrate increases the month and at the end of fiscal year.
Bitfarms 1 year Stock Table:
Bitfarms Action Price and Nasdaq approval
As you may know, Bitfarms actions have behaved very well since the Nasdaq announcement and approval, the stock was over a parabolic period. Which is expected. With the recent drop in bitcoin prices at the bottom of the 30s in May, the stock was quite well held, even during this fall.
Bitfarms is also the first Canadian minor compared to Hive’s Blockchain, DMG, Digihost and Hut 8 to reach Nasdaq first. Although all other minors have also applied.
It’s just that Bitfarms announced the increase first, others will certainly be on Nasdaq by the end of the year. So don’t worry here (in case you hold Hive or Hut 8)
But there is something interesting and exclusivity about Bitfarms, compared to other Canadian minors. The crazy hash growth at the end of 21. Let’s talk about it in the next section of the position.
Bitfarms and Hashrate Story
Currently, Bitfarms has a hashrate of 1.42 eh / s.
What this means in terms of secular is that the company currently operates around 8 bitcoins per day.
Quick mathematics here:
Today’s BTC price is around 40k US (AVG).
It is therefore 8 BTC * 40K = 320K per day – cost to operate 1 bitcoin ($ 7,500, according to their website), leaves us around 250K in profits. But that’s not all, you should consider other expenses, such as damping (mining equipment), employee wages, etc. Let’s keep it 150k per day at these Bitcoin levels, just to be conservative.
It is 150K of raw profits * 30 * 12 months = 54 m per year.
With the recent sale of $ 75 million, current current companies underway are 190m, including all the mandates offered.
This leaves us with an EP of 0.28. (54m / 190m actions)
The current course of action, from today (May 21) is 4.42 United States.
Bitfarms Hachat The growth of the next few months:
0.28 * 25 p / e average leaves us a stock market course of $ 7. So do not expect to see the course of the 4x-5x action once the registration date has been announced. There could be a peak on the day of the list, but it will eventually correct the evaluations before. I mean P / E before.
I also found this magnificent Bondbear13 post on St Comparing Bitfarms and Mara, from May 21, evaluations:
The company is currently Hodle The Med Bitcoins and currently has nearly 1000+ BTC on the balance sheet. Currently, Bitfarms with 1.42 eh / s is Extraction of approximately 8 pieces per day (on average)
Thanks to Davidcassedie de St. According to him, Bitfarms Mines currently nearly 7.81 BTC per day given the difficulty of the network and the existing hash rate. He actually gives the data of the day for the whole month, which is great.
Last words
With the NASDAQ application already approved and the date to be announced, the action can easily 2x of the current levels.
In addition, given the fact that, at the end of exercise 21, Bitfarms will have solid growth in Hashrate and will reach 3 eh / s. This 3x almost from the current hashrate of 1.42 eh / s. Another thing to remember is that Bitfarms goes to Argentina with the 8 eh / s already confirmed by the company / Pr.
The question remains therefore, is Bitfarms a purchase at the current levels?
The answer is a final yes, Bitfarms uses green energy to exploit Bitcoins. Minors are all located in Alberta, Canada, where the climate is really good for the exploitation of cryptography.
I also look forward to that the results of the first quarter on the 26th to better understand the actions in circulation and all the news on the strengthening of the Nasdaq.
Thank you for reading, let me know your thoughts and comments below.
