Financial PerformanceBITF reported revenues and adjusted EBITDA below previous estimates, driven by slightly higher power costs and less operating hash rate online.
Guidance And ExpectationsBitfarms reported solid 3Q24 results, but delayed its YE2024 hash rate guidance of 21 EH/s to 1H25 and withdrew its 35 EH/s outlook for 2025, which resulted in a 15% sell-off in the stock.
Risks And ChallengesRisks to achievement of the price target include volatility in BTC prices, construction, and deployment delays at Bitfarms' mining facilities.