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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

Bullboard Posts
Comment by jackripperIXon Oct 23, 2019 8:18am
169 Views
Post# 30257889

RE:This is getting very bad

RE:This is getting very bad
ValueInvestor44 wrote:
It's going down the drain, even news are not moving the stock price.

https://www.businesswire.com/news/home/20191018005099/en/

"Wes Fulford, CEO of Bitfarms added “Mathieu has over 20 years of experience in designing, developing, and scaling software and hardware internet technology solutions"

The PR says Mr Vachon has 20 years experience while his bio on the company website says 15 years. :

"Mathieu is a software wizard and internet entrepreneur with over 15 years of experience in designing, engineering, and scaling software and hardware internet technology ventures."

Who is lying here ???

Another obvious red flag : the company is now buying a different miner (Avalon). One of the least efficient (and cheapest). Are they not able to buy from the other better manufacturers (Bitmain, Innosilicon, etc.)? Bad Credit ?

Either way, it's not looking good.

It's gonna be another story like "Hive", going to 0.15-0.20$.



My friend used to work for a mining company. Bitmain chooses their clients, they make so much money that they don't care, if you have no connections with them, it is very hard to buy a big lot from them. This is why, i believe Bitfarms chose Avalon or another company instead because they probably were able to agree for a 'wholesale' deal. 

Bullboard Posts