Bitfarms Stock is “underestimated” as solid swabs in AI and Energy: analyst

HC Vainvright & Co. The analyst Mike Colonnese added Bitfarks Stocks in the top of the company in the Mining Sector of Bitcoin, inviting strong operational improvements and transition to high-performance computing and infrastructure.

In research Next Next Bitfarks‘K4 2024 Earnings Report and a conference call, colonies said that the market was “significantly underappreciated” to reduce mining operation and gave way and strategy.

HC Vainvright reiterated its purchase rating on the Bit Farms with $ 3.50 per price of price action, involving the potential at about three times from the current price of about $ 0.98.

K4 RECAP

Bitfarms signed up 27. Marta K4 2024 results. Revenue of $ 56.2 million was 25% quarter-quarter and in accordance with the expectations of analysts. Self-mining The income rose to $ 54.6m, running higher average bitcoin (Btc) Prices and 13% increase in arranged hatrars at 12.8 eh / s by the end of the year. Gross mining has been improved to $ 25.8 million with 47.3% margins, more than 38.4% in the previous quarter.

Although Bitcoin production filed at 654. BTC due to difficulty in growth, the company still published net income of $ 15.2 million, or $ 0.03 per share, a strong jump from net loss of 36.6 million dollars in K3. Custom EBITDA almost triples to $ 14.3 million.

Bitfarks grew its hatrala capacity at 18.6 eh / s, almost tripling its computer power with 6.5 eh / s. The fleet upgrade also improved overall efficiency by 45%, and the costs of the HASH on average on average on average from average of $ 15 to $ 15 per petahash at $ 15 per petahash.

Despite this, the stock of the Bitfarms from 18. November, compared to 7% fall in Napadak index at the same time. The colonk is the current assessment of the company from ~ 25 million dollars by distributed EH as a steep discount on peers, which trades closer to $ 85 million per eh.

Power supply and growth energy means

Looking at mining, the bitfarms are positioned as North American energy and calculates the company.

The management said that there was no current plans for the purchase of more ASIC miners and that future growth would focus on the construction of energy infrastructure for support for AI and HPC work.

This shift includes a recent acquisition of assets of stronghold and selling its Igausa’s place based on Paraguay, increasing the American share of its energy portfolio with 6% to 33%. Bitfarks now aims to grow at 1.4 GV of total energy capacities until 2028. year, with almost 80% placed in the United States

Colonish mentioned that the HPC / A chance still does not reflect on current projections, and a potential partnership with hyperscalian can provide meaningfully upside.