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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.


TSX:BITF - Post by User

Bitfarms Ltd
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Post by Tradinghandson Oct 19, 2024 11:26am
162 Views
Post# 36273031

BITF has had a good rebound...but

BITF has had a good rebound...butI'm not here to bash BITF but I'm not convinced about the Bitcoin rally, I'm old school from the late 50's so I have seen every market rally and crash since then. First, I can't see any country making Bitcoin their new currency because of the large swings as of now the USD only fluctuates pennies not thousands so each country would have to make their own coin and how would the US debt of $34+ Trillion work with the Bitcoin up and down by thousands so I can't see the Bitcoin taking place of USD. Another red flag with Bitcoin is that it's a hacker's paradise and home to fraudulent activity. Bitcoin is rallying on strong US growth and other factors but what if the FED see's inflation heading higher having the FED ending rate cuts or adding points? I'll be convinced of the Bitcoin when its over $74,000. If the 70's repeat the US economy is in trouble.



The Fed Looks Like It Made a Mistake With Its Jumbo Rate Cut (msn.com)

The Fed Is Making the Same Mistake That Caused 1970s Stagflation - Business Insider
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