Bitfarms launched a share buyback that sent its stock up almost 18%
The post Bitfarms launched a share buyback that sent its stock up almost 18% appeared on BitcoinEthereumNews.com.
Bitfarms announced on Tuesday that it has launched a stock buyback program, which lifted its stock price by almost 18%. The firm received approval to buy back as many as 49.94 million of its common shares over the coming year. This limit represents up to 10 percent of its public float, which stood at 499.4 million common shares. The repurchase window runs from July 28, 2025, through July 27, 2026. Bitfarms said it can acquire shares on the Nasdaq, the Toronto Stock Exchange, or through any other method allowed by those markets or by law. “We believe that Bitfarms’ shares are currently undervalued because our Bitcoin business is underappreciated by the market, with little to no value being associated with our HPC potential,” CEO Ben Gagnon said in a press release. “This Program demonstrates our confidence in Bitfarms’ business, our management team, and most importantly, our high-performance computing data center growth strategy.” Over the previous year, Bitfarms’ stock ticker (BITF) has fallen by about 55 percent as miners work through profitability challenges following April’s Bitcoin halving and adjust to a shift toward high-performance computing and AI. At the time of the announcement, Bitfarms shares were trading up roughly 15.48 percent, at $1.30, according to Yahoo Finance data. The firm’s market capitalization is now close to $729 million. Bitfarms stock price. Source: Yahoo Finance Bitfarms also spent months entangled in a takeover attempt by Riot Platforms, a contest that finally concluded in September. Management noted that actual buyback activity depends on several factors, including how much cash the company needs for operations, overall market conditions, its share price, and any rules or limits imposed by regulators. Gagnon added, “We strongly believe our unique and highly desirable energy portfolio in Pennsylvania will drive long-term, sustainable growth that is financeable and enables management to leverage its balance sheet strength to drive shareholder value…
Filed under: News - @ July 22, 2025 9:34 pm