• bitcoinBitcoin (BTC) $ 84,535.00
  • ethereumEthereum (ETH) $ 1,589.15
  • tetherTether (USDT) $ 0.999911
  • xrpXRP (XRP) $ 2.07
  • bnbBNB (BNB) $ 592.30
  • solanaSolana (SOL) $ 134.60
  • usd-coinUSDC (USDC) $ 0.999799
  • dogecoinDogecoin (DOGE) $ 0.157886
  • tronTRON (TRX) $ 0.241911
  • cardanoCardano (ADA) $ 0.630681
  • staked-etherLido Staked Ether (STETH) $ 1,587.43
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 84,315.00
  • leo-tokenLEO Token (LEO) $ 9.23
  • chainlinkChainlink (LINK) $ 12.65
  • avalanche-2Avalanche (AVAX) $ 19.15
  • the-open-networkToncoin (TON) $ 3.00
  • stellarStellar (XLM) $ 0.242067
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • usdsUSDS (USDS) $ 0.999819
  • hedera-hashgraphHedera (HBAR) $ 0.166317
  • suiSui (SUI) $ 2.13
  • wrapped-stethWrapped stETH (WSTETH) $ 1,902.58
  • bitcoin-cashBitcoin Cash (BCH) $ 338.40
  • litecoinLitecoin (LTC) $ 75.97
  • hyperliquidHyperliquid (HYPE) $ 16.88
  • polkadotPolkadot (DOT) $ 3.69
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999428
  • bitget-tokenBitget Token (BGB) $ 4.41
  • ethena-usdeEthena USDe (USDE) $ 0.999237
  • pi-networkPi Network (PI) $ 0.651415
  • wethWETH (WETH) $ 1,585.91
  • whitebitWhiteBIT Coin (WBT) $ 27.90
  • moneroMonero (XMR) $ 215.52
  • wrapped-eethWrapped eETH (WEETH) $ 1,692.23
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 84,589.00
  • daiDai (DAI) $ 0.999967
  • uniswapUniswap (UNI) $ 5.21
  • pepePepe (PEPE) $ 0.000007
  • okbOKB (OKB) $ 50.31
  • aptosAptos (APT) $ 4.72
  • gatechain-tokenGate (GT) $ 22.45
  • tokenize-xchangeTokenize Xchange (TKX) $ 33.55
  • ondo-financeOndo (ONDO) $ 0.836086
  • susdssUSDS (SUSDS) $ 1.05
  • nearNEAR Protocol (NEAR) $ 2.08
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • ethereum-classicEthereum Classic (ETC) $ 15.64
  • bittensorBittensor (TAO) $ 272.75
  • internet-computerInternet Computer (ICP) $ 4.79
  • crypto-com-chainCronos (CRO) $ 0.084143
  • mantleMantle (MNT) $ 0.657948
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.17
  • aaveAave (AAVE) $ 138.97
  • render-tokenRender (RENDER) $ 3.91
  • vechainVeChain (VET) $ 0.023423
  • kaspaKaspa (KAS) $ 0.076718
  • cosmosCosmos Hub (ATOM) $ 4.16
  • fasttokenFasttoken (FTN) $ 4.24
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 83,972.00
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.190485
  • algorandAlgorand (ALGO) $ 0.191851
  • filecoinFilecoin (FIL) $ 2.47
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998596
  • ethenaEthena (ENA) $ 0.281809
  • official-trumpOfficial Trump (TRUMP) $ 7.78
  • sonic-3Sonic (prev. FTM) (S) $ 0.458726
  • celestiaCelestia (TIA) $ 2.39
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 3.84
  • arbitrumArbitrum (ARB) $ 0.292507
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.508233
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 84,217.00
  • kucoin-sharesKuCoin (KCS) $ 10.03
  • makerMaker (MKR) $ 1,353.90
  • binance-staked-solBinance Staked SOL (BNSOL) $ 140.94
  • xdce-crowd-saleXDC Network (XDC) $ 0.070849
  • optimismOptimism (OP) $ 0.666910
  • jupiter-exchange-solanaJupiter (JUP) $ 0.374951
  • story-2Story (IP) $ 3.84
  • nexoNEXO (NEXO) $ 1.02
  • flare-networksFlare (FLR) $ 0.015989
  • binance-peg-wethBinance-Peg WETH (WETH) $ 1,588.33
  • eosEOS (EOS) $ 0.627771
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 1,652.07
  • bonkBonk (BONK) $ 0.000012
  • usdt0USDT0 (USDT0) $ 0.999613
  • blockstackStacks (STX) $ 0.598101
  • worldcoin-wldWorldcoin (WLD) $ 0.709936
  • sei-networkSei (SEI) $ 0.171120
  • paypal-usdPayPal USD (PYUSD) $ 0.999863
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999347
  • tether-goldTether Gold (XAUT) $ 3,346.98
  • immutable-xImmutable (IMX) $ 0.448411
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999623
  • dexeDeXe (DEXE) $ 13.92
  • curve-dao-tokenCurve DAO (CRV) $ 0.598347
  • injective-protocolInjective (INJ) $ 7.92
  • pax-goldPAX Gold (PAXG) $ 3,352.86
  • rocket-pool-ethRocket Pool ETH (RETH) $ 1,786.82
  • the-graphThe Graph (GRT) $ 0.079170
  • fartcoinFartcoin (FARTCOIN) $ 0.758982
  • wbnbWrapped BNB (WBNB) $ 592.05
  • solv-protocol-solvbtc-bbnSolv Protocol xSolvBTC (XSOLVBTC) $ 83,690.00
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 84,473.00
  • usual-usdUsual USD (USD0) $ 0.997854
  • theta-tokenTheta Network (THETA) $ 0.660676
  • jasmycoinJasmyCoin (JASMY) $ 0.013500
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 148.35
  • the-sandboxThe Sandbox (SAND) $ 0.264667
  • coredaoorgCore (CORE) $ 0.640307
  • galaGALA (GALA) $ 0.014465
  • lido-daoLido DAO (LDO) $ 0.698920
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.999133
  • msolMarinade Staked SOL (MSOL) $ 173.04
  • raydiumRaydium (RAY) $ 2.15
  • heliumHelium (HNT) $ 3.48
  • chain-2Onyxcoin (XCN) $ 0.018656
  • mantle-staked-etherMantle Staked Ether (METH) $ 1,688.49
  • mantra-daoMANTRA (OM) $ 0.636171
  • bittorrentBitTorrent (BTT) $ 0.00000061
  • iotaIOTA (IOTA) $ 0.160349
  • kaiaKaia (KAIA) $ 0.101184
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • movementMovement (MOVE) $ 0.235767
  • flowFlow (FLOW) $ 0.365205
  • bitcoin-svBitcoin SV (BSV) $ 28.72
  • flokiFLOKI (FLOKI) $ 0.000056
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.88
  • tezosTezos (XTZ) $ 0.501366
  • decentralandDecentraland (MANA) $ 0.279223
  • jito-governance-tokenJito (JTO) $ 1.62
  • pendlePendle (PENDLE) $ 3.15
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 1,659.65
  • zcashZcash (ZEC) $ 31.11
  • walrus-2Walrus (WAL) $ 0.398404
  • clbtcclBTC (CLBTC) $ 84,282.00
  • true-usdTrueUSD (TUSD) $ 0.997992
  • pyth-networkPyth Network (PYTH) $ 0.135758
  • pumpbtcpumpBTC (PUMPBTC) $ 82,482.00
  • beldexBeldex (BDX) $ 0.066494
  • sonic-bridged-usdc-e-sonicSonic Bridged USDC.e (Sonic) (USDC.E) $ 0.999797
  • ethereum-name-serviceEthereum Name Service (ENS) $ 14.14
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999797
  • grassGrass (GRASS) $ 1.66
  • kavaKava (KAVA) $ 0.420301
  • dydx-chaindYdX (DYDX) $ 0.576647
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 84,466.00
  • solayerSolayer (LAYER) $ 2.03
  • ubtcuBTC (UBTC) $ 83,087.00
  • reserve-rights-tokenReserve Rights (RSR) $ 0.007324
  • apenftAPENFT (NFT) $ 0.00000042
  • telcoinTelcoin (TEL) $ 0.004440
  • hashnote-usycHashnote USYC (USYC) $ 1.08
  • usdbUSDB (USDB) $ 0.999962
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.158061
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 1,658.71
  • thorchainTHORChain (RUNE) $ 1.15
  • elrond-erd-2MultiversX (EGLD) $ 14.21
  • ecasheCash (XEC) $ 0.000020
  • spx6900SPX6900 (SPX) $ 0.427514
  • dogwifcoindogwifhat (WIF) $ 0.397643
  • neoNEO (NEO) $ 5.62
  • ousgOUSG (OUSG) $ 110.75
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 1,689.74
  • tbtctBTC (TBTC) $ 84,027.00
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 0.577967
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 1,585.04
  • olympusOlympus (OHM) $ 22.76
  • axie-infinityAxie Infinity (AXS) $ 2.29
  • resolv-usrResolv USR (USR) $ 1.00
  • berachain-beraBerachain (BERA) $ 3.30
  • starknetStarknet (STRK) $ 0.123410
  • chilizChiliz (CHZ) $ 0.037583
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 1,590.00
  • compound-governance-tokenCompound (COMP) $ 39.49
  • conflux-tokenConflux (CFX) $ 0.068501
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 0.997724
  • apecoinApeCoin (APE) $ 0.437888
  • arweaveArweave (AR) $ 5.34
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 1,588.63
  • super-oethSuper OETH (SUPEROETHB) $ 1,587.63
  • usddUSDD (USDD) $ 1.00
  • based-brettBrett (BRETT) $ 0.034128
  • plumePlume (PLUME) $ 0.165816
  • matic-networkPolygon (MATIC) $ 0.190729
  • binance-peg-busdBinance-Peg BUSD (BUSD) $ 1.00
  • saros-financeSaros (SAROS) $ 0.122838
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000059
  • beam-2Beam (BEAM) $ 0.006112
  • fraxFrax (FRAX) $ 0.999893
  • wormholeWormhole (W) $ 0.070405
  • sun-tokenSun Token (SUN) $ 0.016592
  • aioz-networkAIOZ Network (AIOZ) $ 0.272423
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.762025
  • aerodrome-financeAerodrome Finance (AERO) $ 0.385618
  • roninRonin (RON) $ 0.491372
  • justJUST (JST) $ 0.030567
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.004720
  • amp-tokenAmp (AMP) $ 0.003516
  • honey-3Honey (HONEY) $ 0.999611
  • ripple-usdRipple USD (RLUSD) $ 0.999430

Bitfarms stock is ‘undervalued’ as firm pivots to AI and energy: analyst

0 13

Bitfarms stock is ‘undervalued’ as firm pivots to AI and energy: analyst

H.C. Wainwright & Co. analyst Mike Colonnese has added Bitfarms stock to the firm’s top picks in the Bitcoin mining sector for 2025, citing strong operational improvements and a shift toward high-performance computing and AI infrastructure.

In a research note following Bitfarms’ Q4 2024 earnings report and conference call, Colonnese said the market is “significantly undervaluing” the company’s scaled-up mining operations and emerging AI strategy.

H.C. Wainwright reiterated its Buy rating on Bitfarms with a $3.50 per share price target, implying upside potential of more than three times from its current price of around $0.98.

Q4 recap

Bitfarms reported on March 27 Q4 2024 results. Revenue of $56.2 million was up 25% quarter-over-quarter and in line with analyst expectations. Self-mining revenue rose to $54.6 million, driven by higher average Bitcoin (BTC) prices and a 13% increase in deployed hashrate to 12.8 EH/s by year-end. Gross mining profit improved to $25.8 million with a 47.3% margin, up from 38.4% in the previous quarter.

While Bitcoin production dipped to 654 BTC due to rising network difficulty, the company still posted net income of $15.2 million, or $0.03 per share, a strong rebound from a net loss of $36.6 million in Q3. Adjusted EBITDA nearly tripled to $14.3 million.

You might also like: Crusoe Energy sells Bitcoin mining arm to NYDIG, turns focus to AI

Bitfarms has grown its hashrate capacity to 18.6 EH/s, nearly tripling its computing power from 6.5 EH/s at the end of 2023. Fleet upgrades have also improved overall efficiency by 45%, with hash costs now averaging around $20–$22 per petahash, notably below the current market hash prices of ~$50/PH.

Despite this, Bitfarms’ stock is down 57% since November, compared to a 7% decline in the Nasdaq index over the same time period. Colonnese sees the company’s current valuation of ~$25 million per deployed EH as a steep discount to peers, who trade closer to $85 million per EH.

Energy assets to power AI growth

Looking beyond mining, Bitfarms is positioning itself as a North American energy and compute company.

Management said on the call that there are no immediate plans to purchase more ASIC miners, and that future growth will focus on building energy infrastructure to support AI and HPC workloads.

This shift includes a recent acquisition of Stronghold assets and a sale of its Paraguay-based Yguazu site, increasing the U.S. share of its energy portfolio from 6% to 33%. Bitfarms now aims to grow to 1.4 GW of total energy capacity by 2028, with nearly 80% located in the U.S.

Colonnese noted that the HPC/AI opportunity is not yet reflected in current projections, and a potential partnership with a hyperscaler could provide meaningful upside.

You might also like: HIVE Digital completes acquisition of Paraguay’s Yguazú site, seeks 317% mining boost

Source

Leave A Reply

Your email address will not be published.