Bitfarms Ltd. (TSE:BITF) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Bitfarms Ltd. has reported a strong finish to 2023, earning 1,236 BTC in the fourth quarter, improving its gross mining margin significantly, and achieving a debt-free status to bolster financial flexibility. The company is aggressively expanding, targeting a tripling of its hashrate to 21 EH/s by the end of 2024, while also focusing on new farm development in Paraguay. These efforts are part of a comprehensive growth plan, including a major upgrade of its mining fleet and operational capacity.
For further insights into TSE:BITF stock, check out TipRanks’ Stock Analysis page.