Bitcoin Miners Hit Rock Bottom? Valuations Slip Below Key Average For First Time In A Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 17 2025
0mins
Should l Buy BITF?
Source: Benzinga
Mining Stocks Struggle: U.S.-listed mining stocks have seen a significant decline, with valuations dropping below historical averages due to a combination of falling Bitcoin prices and increased competition in the mining sector. The market cap of tracked miners fell by 13%, equating to a $3 billion loss.
Bitcoin Price and Mining Competition: Bitcoin's average price decreased by 10% in March, while the network hashrate rose by 35% year-over-year, leading to reduced daily mining profitability as more miners compete for rewards.
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Analyst Views on BITF
Wall Street analysts forecast BITF stock price to rise
6 Analyst Rating
6 Buy
0 Hold
0 Sell
Strong Buy
Current: 2.070
Low
4.00
Averages
5.67
High
7.00
Current: 2.070
Low
4.00
Averages
5.67
High
7.00
About BITF
Bitfarms Ltd. is a Canada-based global Bitcoin and vertically integrated data center company that sells its computational power to one or more mining pools from which it receives payment in Bitcoin. It develops, owns, and operates vertically integrated mining facilities with in-house management and Company-owned electrical engineering, installation service, and multiple onsite technical repair centers. Its proprietary data analytics system delivers operational performance and uptime. The Company operates through the cryptocurrency mining segment. The activities of the Company mainly consist of selling its computational power used for hashing calculations for the purpose of cryptocurrency mining in multiple jurisdictions. Volta, a wholly owned subsidiary of the Company, assists the Company in building and maintaining its data centers. The Company operates Bitcoin data centers in four countries: the United States, Canada, Paraguay, and Argentina.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Stock Exchange Transition: Each outstanding common share of Bitfarms will be exchanged for one share of Keel Infrastructure, with trading expected to commence on Nasdaq and the Toronto Stock Exchange under the ticker KEEL, thereby increasing investor interest.
- Shareholder Meeting Scheduled: The company's board has approved the plan, with a shareholder meeting set for March 20 to seek approval, and the transition is anticipated to be completed around April 1, 2026, demonstrating a clear roadmap for future growth.
- External Advisory Support: To ensure a smooth transition, Bitfarms has engaged several external advisors to assist with the transaction, indicating the company's commitment to professional support during its strategic pivot to mitigate potential risks.
See More
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- Stock Performance: Hut 8 Mining's shares surged 8.86% to $48.42 on Friday, reflecting investor optimism regarding the crypto market recovery and demonstrating the company's strong performance among its peers.
- Market Dynamics: Despite a severe downturn earlier this week that led to double-digit losses for many crypto-related stocks, Hut 8 successfully capitalized on the positive sentiment surrounding Friday's market rebound, showcasing its resilience in a volatile environment.
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