Bitfarms has announced an expansion project in Pennsylvania, which includes significantly increasing its power capacity and Bitcoin mining capabilities. This move comes after the company rejected a takeover bid from Riot Platforms. The expansion news has led to a 15% increase in Bitfarms' stock price, which reached $2.66 pre-market. Additionally, Bitfarms has raised its 2025 guidance to over 35 EH/s, signaling strong growth prospects and independence from external control. Site purchases are a sign of independence and strength, meaning shareholders are likely to see substantially higher prices before any M&A outcome. Investors are closely monitoring these developments as Bitfarms aims to strengthen its presence in the US market.
After rejecting Riot's takeover bid, Bitfarms announced a project to significantly increase its power capacity and Bitcoin mining capabilities, boosting it's stock by 15% https://t.co/Jh12vSXnTW
Bitfarms to boost US presence with Pennsylvania expansion amid Riot takeover bid https://t.co/5EGvmtSPUm
Bitfarm's shares have seen a significant spike as the company sets its sights on expanding operations in Pennsylvania, in a move to resist control from the Riot platform. Investors are closely watching developments unfold. #Bitfarm #Pennsylvania #RiotPlatform
Bitfarms stock surges after raising 2025 guidance to over 35 EH/s https://t.co/i6qkgbZMtJ
Bitfarms tapped $2.66 pre-market on expansion news. The fact that the company is unlikely to hit EH targets has become irrelevant. Site purchases are a sign of independence and strength and mean shareholders are likely to see substantially higher prices before any M&A outcome.