H.C. Wainwright analyst Kevin Dede says the firm is “unwavering” in its bullish stance on Bitfarms and reiterates a Buy rating on the shares with a $4 price target amid the company’s leadership transition. The analyst believes Bitfarms’ board is thinking a more U.S.-centric CEO may facilitate the company’s rise to the next level. The firm thinks Bitfarms has “multiple growth triggers in multiple jurisdictions.” The company’s evolution, hash growth, and execution are “flying under investor radars” as compared with other U.S.- centric bitcoin mining names, “but therein lies the opportunity for investors,” the analyst tells investors in a research note.
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