bitcoin
Bitcoin (BTC) $ 44,026.80
ethereum
Ethereum (ETH) $ 2,352.83
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 240.15
xrp
XRP (XRP) $ 0.672128
cardano
Cardano (ADA) $ 0.593826
usd-coin
USDC (USDC) $ 1.00
matic-network
Polygon (MATIC) $ 0.900402
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.100547
okb
OKB (OKB) $ 57.21
polkadot
Polkadot (DOT) $ 7.19
shiba-inu
Shiba Inu (SHIB) $ 0.00001
tron
TRON (TRX) $ 0.107417
uniswap
Uniswap (UNI) $ 6.67
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 43,931.77
dai
Dai (DAI) $ 1.00
litecoin
Litecoin (LTC) $ 77.01
staked-ether
Lido Staked Ether (STETH) $ 2,352.66
solana
Solana (SOL) $ 74.40
avalanche-2
Avalanche (AVAX) $ 32.10
chainlink
Chainlink (LINK) $ 16.49
cosmos
Cosmos Hub (ATOM) $ 10.63
the-open-network
Toncoin (TON) $ 2.34
ethereum-classic
Ethereum Classic (ETC) $ 22.44
leo-token
LEO Token (LEO) $ 3.80
filecoin
Filecoin (FIL) $ 5.30
bitcoin-cash
Bitcoin Cash (BCH) $ 254.29
monero
Monero (XMR) $ 175.17
Saturday, December 9, 2023
More
    bitcoin
    Bitcoin (BTC) $ 44,026.80
    ethereum
    Ethereum (ETH) $ 2,352.83
    tether
    Tether (USDT) $ 1.00
    bnb
    BNB (BNB) $ 240.15
    usd-coin
    USDC (USDC) $ 1.00
    xrp
    XRP (XRP) $ 0.672128
    binance-usd
    BUSD (BUSD) $ 1.00
    dogecoin
    Dogecoin (DOGE) $ 0.100547
    cardano
    Cardano (ADA) $ 0.593826
    solana
    Solana (SOL) $ 74.40
    matic-network
    Polygon (MATIC) $ 0.900402
    polkadot
    Polkadot (DOT) $ 7.19
    tron
    TRON (TRX) $ 0.107417
    HomeMarket NewsBitfarm shares may rise to $2.0: HCW analyst Kevin Dede

    Bitfarm shares may rise to $2.0: HCW analyst Kevin Dede


    • HCW analysts say Bitfarms nonetheless has 40% upside.
    • Bitcoin miners reported robust first quarter outcomes this week.
    • Bitfarm shares are already up about 150% year-to-date on the time of writing.

    Bitfarms shares are already up almost 150% for the reason that starting of the 12 months, however analysts at HC Wainwright are assured they don’t seem to be operating out of steam but.

    Bitfarm shares have one other 40% upside

    On Tuesday, Kevin Dede reiterated his β€œpurchase” score for bitcoin miners, up $2.0, up one other 40% from there.

    His bullishness on Bitfarm’s inventory got here a day after the corporate introduced that its first-quarter gross sales had been up 11% quarter-on-quarter. Dede admitted that mining prices elevated by greater than 12% in comparison with This autumn, however he wrote:

    Bitfarms nonetheless enjoys the bottom electrical energy prices amongst its friends, primarily by utilizing hydropower. Bitfarms prides itself on renewable power sources.

    Adjusted EBITDA for the primary quarter was $6.3 million, greater than 5 instances the earlier quarter, in accordance with the earnings press launch.

    Bitfarms has a powerful steadiness sheet

    Additionally constructive was the “hash fee”, which elevated by about 7.0% to 4.8 EH/s in the newest quarter. Extra importantly, Bitfarms expects him to rise additional to six.0 EH/s by the tip of Q3.

    See also  Venmo to permit crypto cash transfers for purchasers in Might

    One of many different notable causes Dede stays constructive on Bitfarms inventory is the power of its steadiness sheet. The Toronto-based firm at the moment has solely $19 million in debt, in contrast with $140 million about 10 months in the past.

    HCW analysts now anticipate Bitfarms to make $132.4 million in income this 12 months, up from a earlier estimate of $119.9 million. In his analysis notes he additionally states:

    Geographic danger is mitigated with 10 places unfold throughout 4 international locations. Forward of the halving, BITF positions itself with a strategic mixture of stability, liquidity, prudent monetary administration and development plans.

    RELATED ARTICLES

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Most Popular