Northland raised the firm’s price target on Bitfarms (BITF) to $7 from $3.25 and keeps an Outperform rating on the shares after the company converted its $300M Macquarie facility to project-level financing and drew an additional $50M to accelerate Phase 1 of its 350 MW Panther Creek high-performance computing and AI campus. With a 1.3 GW pipeline, Bitfarms is well aligned with hyperscaler demand and offers investors “an underappreciated way to gain exposure to the next wave of U.S. AI/HPC infrastructure buildout,” the analyst contends.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BITF:
- Bitfarms Converts $300M Facility for Panther Creek Data Center Development
- Midday Fly By: Trump threatens China tariffs, Kalshi valued at $5B
- IREN, WULF, BITF: Bitcoin Mining Stocks Pop as Bernstein Calls Them AI Infrastructure Winners
- Bitfarms rises 21.6%
- Bitfarms Secures $300M for Panther Creek Data Center Development