Long term faith but cannot afford to mine….
https://ift.tt/9H8zG7x
Bitfarm $BITF
This is not your grandfather’s mining anymore! We are talking about GREEN mining of digital GOLD.
Bitfarms operates blockchain computing centres that power the global decentralized financial economy. Bitfarms provides computing power to cryptocurrency networks such as Bitcoin, earning fees from each network for securing and processing transactions. Powered by clean and competitively priced hydroelectricity, Bitfarms operates five facilities in Québec, Canada. https://bitfarms.com
* Bitfarms Ltd (NASDAQ: BITF) reported fourth-quarter FY21 revenue growth of 426% year-on-year to $60 million. Revenues improved 33% Q/Q.
* Bitfarms mined 1,045 Bitcoin (BTC) at an average cost of production of $8,000 per BTC.
* The gross margin expanded by 4,100 bps to 65%. The gross mining margin improved by 3,100 bps to 84%.
* The operating margin expanded by 2,200 bps to 25%. Adjusted EBITDA margin expanded 4,300 bps to 74%.
Management plans to increase the company’s installed production capacity from 2.7EH/s (per their corporate site) to 8EH/s by December to make Bitfarms one of the largest cryptocurrency mining stocks. What’s changed is the chance of achieving that goal has increased. BITF has secured a sufficient energy supply to support mining at this scale. BITF acquired a 24-megawatt (MW) hydro-powered facility with options to add another 75 MW energy supply.
Bitfarms held over 4,883 BTC as of Feb 28, 2022.
-I see an upside of 71%, with a price target of $10.38 (Seeking A)
-According to analysts’ consensus price target of $8.00 (Market Beat)
-12 month forecast $7.97 (CNN biz)
Cryptocurrency
