H.C. Wainwright analyst Kevin Dede raised the firm’s price target on Bitfarms to $4 from $3 and keeps a Buy rating on the shares. The company announced a $95M mining rig spend that pushes its fleet size to 21Eh/s should it exercise a $75M option and all its current machines remain profit-relevant post halving next year, the analyst tells investors in a research note. The firm continues to see Bitfarms’ evolution, hash growth, and execution as “flying under investor radar “as compared with other U.S.-centric marquis bitcoin mining names.
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