Bitfarms Don Launch 49.9M Share Buyback, Dem Shift to AI & HPC
Bitfarms don launch share buyback program wey authorize dem to buy back up to 49.9 million common shares—10% of dia public float—on TSX and Nasdaq within 12 months. The share buyback, wey Toronto Stock Exchange approve, aim to boost earnings per share and make investors trust more, causing Nasdaq-listed shares to rise 16.8% when dem announce am.
For Q1 2025, Bitfarms report say dem lose US$36 million because Bitcoin mining no too profitable again after the 2024 halving, but dem improve their gross margin to 63%. To reduce wahala for mining business, the company dey change to AI infrastructure and high-performance computing (HPC). Dem dey operate 15 Bitcoin mining data centres across four countries and dey expand their sustainable energy portfolio for Pennsylvania.
To support their AI and HPC move, Bitfarms secure US$300 million credit facility from Macquarie and dem sell their Paraguay mining site to Hive Digital for US$85 million to fund expansion of AI data centre for USA. This strategy to diversify aim make revenue steady and catch growth for AI computing market.
Neutral
Di share buyback show say management get confidence and e fit support Bitfarms stock performance, as dem turn head go AI infrastructure and HPC dey reduce how dem rely on unstable Bitcoin mining. But these company moves no too get direct impact for bitcoin market price. Traders suppose see dis news as neutral catalyst for BTC trading but e dey positive for Bitfarms company outlook.