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Stock That is Breaking Out: Bitfarms Ltd. (BFARF)

Bitfarms Ltd. (OTC: BFARF) surged 12.86% to $6.31 at the close of Friday. In contrast to its Average Weekly Volume of 3.43M, the Company Volume was 4.67M.

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Founded in 2017, Bitfarms Ltd. (OTC: BFARF) is one of the leading Bitcoin mining companies worldwide. It has many years’ experience as a bitcoin mining operation. They have onsite repair technicians, engineers, and data analytics to deliver highly reliable and stable mining operations.


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On Feb. 18, 2021, Bitfarms Ltd. (OTC: BFARF) announced that its previously announced shipment of 3,000 MicroBT M31S+ miners has been increased by 50% to 4,500 units. The 4,500 miners should arrive on schedule and be in production within the next 30 days.

Bitfarms owns and operates five mining sites in Quebec, that use hydroelectric power for energy generation. The successful installation of 4,500 miners will allow Bitfarm to utilize existing infrastructure at a greater hashrate than 965 PH/s, increasing their operational hashrate by 35%. Moreover, thanks to their high efficiency, our overall efficiency will increase by 12.5% to 49 watts/TH, resulting in a direct reduction in Bitcoin Gross Mining Costs*.

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Finally,

Even though the price of the planet’s most valuable cryptocurrency is up more than 225% this year, there are some significant differences between the current bull run and the Bitcoin bubble we saw in 2017. … It’s not like that.

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