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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 norim109on Mar 09, 2021 9:28pm
230 Views
Post# 32759664

RE:Relax

RE:RelaxIt is a fact that Bitfarm is undervalued compared to other miners, especially RIOT and MARA. Based on a Bitcoin price of US$55,000, BITF is making US$495,000 per day. Its gross mining cost are US$7,000 per coin, thus US63,000 per day. BITF net mining revenues are US$432,000 per day, $39,312,000 per quarter, US$157 million per year. Substract other costs (depreciation, admin, etc.) of US$5 million per quarter, its net profit would total US$137 million, or CAN$172 million. Profit per share ($172M/140M shares) would total CAN$1.23. A very conservative P/E ratio of 20 would give a stock price of $24-$25, very far from today stock price. 

The market does not seem to understand bitcoin mining, I means the Canadian market. MARA (US$36) and RIOT (US$52) are producing less bitcoins than BITF, but get higher values on NASDAQ. 


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