Bitfarms Ltd T.BITF

Alternate Symbol(s): BITF

Technology Software - Application

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.

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Bitfarms Ltd

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Post by E17on Jan 02, 2021 11:05am

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Post# 32209306

P/B Value Observation

Hi all, glad to see Bitcoin on a run.

A quick observation on Price to Book discount relative to peers for the two companies I previously mentioned: Bitfarms Canada and Argo Blockchain. In addition to the clear undervaluation of both companies on a pure processing power to market capitalization ratio (PH/$m mkt cap), both companies are valued on 'only' 5x P/B vs. a consistent 18x P/B for RIOT, MARA and HIVE.

I'll let you do the math, but clearly Bitfarms Canada and Argo Blockchain are significantly (i.e. multiples) undervalued relative to the better known names.

I await Monday's trading with some excitement!

GL to all longs!

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