Trade Bitfarms Ltd. - BITF CFD

Bitfarms Ltd. Company profile

Bitfarms Ltd. (BITF) is a pure-play bitcoin mining company. It operates computing centres that power the decentralised financial economy.

Founded in 2017, Bitfarms is headquartered in Toronto, Canada. It provides essential services in the cryptocurrency market, such as the validation and verification of transactions, and cryptocurrency mining. The company owns and operates nine computing centres in Canada, the United States and Paraguay,.

Along with the validation of transactions on the blockchain, miners receive rewards for maintaining network integrity. The network and miners are incentivised to only generate blocks containing authorised and validated transactions. As of 31 May 2022, Bitfarms mined 13.9 BTC a day and 431 BTC a month (up 6% from May 2021). It held 6,075 BTC. 

Leveraging the management’s deep background in data centres, technology and financing, the company is also securing long-term and low-cost energy contracts, providing electrician services to residential and commercial customers in Quebec.

Bitfarms Ltd. stock began trading on the Nasdaq in 2021 under the ticker symbol BITF. 

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