Thames Capital Management's Investment: Thames Capital Management LLC disclosed a new position in Bitfarms, acquiring approximately 7 million shares valued at $19.83 million, which represents 2.83% of its reported assets under management as of September 30, 2025.
Bitfarms Performance: Bitfarms' stock has surged by 306% in 2025, significantly outperforming the S&P 500, with shares priced at $4.54 as of October 27, 2025, and a 112% increase over the past year.
Business Operations: Bitfarms is a cryptocurrency mining company based in Toronto, focusing on Bitcoin mining and expanding into data center services for AI processing, while also providing electric services to customers in Quebec.
Investment Risks: Thames Capital's investment in Bitfarms is considered risky due to the company's negative profit margins and debt, with potential for significant losses if Bitcoin prices decline, despite the current momentum in the cryptocurrency market.
Wall Street analysts forecast BITF stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BITF is 5.67 USD with a low forecast of 4.00 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
Wall Street analysts forecast BITF stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BITF is 5.67 USD with a low forecast of 4.00 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Buy
0 Hold
0 Sell
Strong Buy
Current: 2.690
Low
4.00
Averages
5.67
High
7.00
Current: 2.690
Low
4.00
Averages
5.67
High
7.00
Alliance Global
Brian Kinstlinger
Buy
maintain
$6
2025-11-14
Reason
Alliance Global
Brian Kinstlinger
Price Target
$6
AI Analysis
2025-11-14
maintain
Buy
Reason
Alliance Global analyst Brian Kinstlinger raised the firm's price target on Bitfarms to $6 from $2.50 and keeps a Buy rating on the shares following the Q3 report. The firm believes the shares deserve a "much higher multiple" as the company makes progress on timing risk, capital requirements and the eventual need of tenants. Bitfarms plans to convert the majority of its energy capacity to artificial intelligence sites with a focus on long term recurring revenue and very high margin, the analyst tells investors in a research note.
Cantor Fitzgerald
NULL -> Overweight
maintain
$5
2025-11-14
Reason
Cantor Fitzgerald
Price Target
$5
2025-11-14
maintain
NULL -> Overweight
Reason
Cantor Fitzgerald raised the firm's price target on Bitfarms to $5 from $2.20 and keeps an Overweight rating on the shares. Bitfarms' reported numbers were impacted by the company moving a part of its business to discontinued operations, but the earnings call was "encouraging" on multiple fronts, the analyst tells investors in a research note.
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Clear Street
Buy
downgrade
$6 -> $5
2025-11-14
Reason
Clear Street
Price Target
$6 -> $5
2025-11-14
downgrade
Buy
Reason
Clear Street lowered the firm's price target on Bitfarms to $5 from $6 and keeps a Buy rating on the shares. The firm cites rising global hash rate in the company's legacy bitcoin mining business for the target cut. Bitfarms continues its transition from bitcoin mining to North American high performance compute and artificial intelligence infrastructure, the analyst tells investors in a research note.
H.C. Wainwright
Buy
downgrade
$4
2025-11-14
Reason
H.C. Wainwright
Price Target
$4
2025-11-14
downgrade
Buy
Reason
H.C. Wainwright lowered the firm's price target on Bitfarms to $4 from $5.50 and keeps a Buy rating on the shares. The company reported "lackluster" Q3 results, the analyst tells investors in a research note. However, the firm believes the recent rotation out of artificial intelligence-related stocks "has created an attractive buying opportunity." It views Bitfarms as one of the most underappreciated bitcoin miners.
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.
