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Bitfarms Ltd T.BITF

Alternate Symbol(s):  BITF

Bitfarms Ltd. is a Canada-based global vertically integrated bitcoin mining company. The Company develops, owns, and operates vertically integrated mining farms with in-house management and Company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers operational performance and uptime. The Company operates through the cryptocurrency mining segment. The Company operates server farms comprised of computers (Miners) designed for the purpose of validating transactions on the Bitcoin (BTC) Blockchain (Mining). The Company also operates Miners about 24 hours a day producing computational power (measured by hashrate) which it sells to Mining Pools under a formula-driven rate commonly known as Full Pay Per Share (FPPS). The Company has 11 farms, which are located in four countries: Canada, the United States, Paraguay, and Argentina.


TSX:BITF - Post by User

Comment by Bludstanon Feb 21, 2024 7:06pm
152 Views
Post# 35892131

RE:Down 20% in just 2 days lol

RE:Down 20% in just 2 days lolFirst of all, I suggest you review your math and use actual numbers. You risk being outed as a misinformation alarmist otherwise. In CAD, it reached a peak of 4.68$ 2 days ago. It would have had to drop to 3.74$ to drop by 20%. Let's start from Feb 16 instead where it peaked at 4.88$, giving you a chance here, but a 20% drop from that would be 3.90$. It closed at 4.25$. In either scenario, that's not a 20% drop. That's a 12.9% drop from it's peak on feb 16th. Incidentally, it also rose by 10.5% in just one day between feb 13th and 14th, and by almost 20% from feb 13 to that 4.88$ peak above. So to reiterate, it hasn't fallen by the 20% you claim.. but it did rise by almost 20% recently and in a similar window.

For being in one's right mind, I often wonder about exactly this, but for you. The answer almost entirely depends on your investment window. If you want to cash out, you'd be taking a huge risk by waiting 2 days to see if, though you've reached your target price, you hold on to it to see if you can greedily get a few more cents out of it. Strategies vary but wiser investors would cash out  a part of their investment at least. If your investment window is 1, 2, 5 years, you'd be invested in the wrong stock if you were genuinely worried about a 2 day drop. 

The 2nd dependency is your risk tolerance. This is a common very basic question that gets asked to people buying, say, mutual funds, at least in Canada. Are you prepared to lose all the money you invested in this stock. If you answer no, you really shouldn't be buying this stock at all. There are a number of other attractive investment options for you. If you answer yes, a 20%.. well.. at 12.9% drop in 2 days, when it's actually also shown it can go up by said 20% is no sweat off of anybody's back, at least not if you bought when it was 1-2$. 

MHO
B

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