Going_4_It
2 days ago
And when was that announced?
Oh, they didn't.
Well then, what about asteroids from space, and solar storms, sink holes, volcanoes, ad infinitum....
If you are going to worry about things that haven't happened yet then why hold back?
LOL!
Going_4_It
3 days ago
I think Bitfarms is an excellent investment. And here's why...
My Bitfarms investment premise: It is far easier for an 80 cent stock to double to $1.60 than it is for an $8 stock to double to $16.
I now own 11,500 shares which I have accumulated starting in 2023. My current cost basis is about $1.53 a share. So I am down a little over $8K.
Since I started accumulating shares I have been selling covered Call options against my position as it has grown over time. The money I receive from the options I then use to buy more shares. All of the options I have sold either expired worthless or else I bought them back at a substantially reduced cost. In 2023 I cleared $816, and another $1684 in 2024, and so far in 2025 I have received $784. All of this is cash profit for a total of $3294 in 2.5 years.
At this moment I have in place 100 Covered Call option contracts against my position Exercise-able at $2.50 and expiring on Jan 16, 2026. That is 213 days from now. For these options I have received $935 cash. I am betting that BITF will NOT exceed $2.50 a share on Jan 16, 2026. I can't count this $935 as profit until the options expire in 2026, 213 days from now. And I would be very happy to be mistaken about the final price.
My "worst case" scenario is that BITF is above $2.50/share on next Jan 16, my options get exercised, and the stock is sold for a total of $25,000. That turns out to be $7494 profit on the stock sale, $935 profit on the option sale, and add in my previous profit since 2023 of $3294, for a grand total of $11,723 profit on an investment of $17,505. That feels like about a 65% return in about 3 years.
Of course, I hope the options don't get exercised because I would like to just keep "harvesting" option cash income throughout 2026 and beyond. And if it does go above $2.50 then I will miss out on some profit. But I may be able to buy the position back on a dip following an overshoot to the upside.
In selling Call options against my position I am taking a risk of sorts. In a way I am betting against myself. Because I really would very much like to see Bitfarms stock price explode to the upside. That is why I bought this stock. And I can see several reasons why there is a good chance that will happen. Possibly soon.
Bitfarms, like several other Bitcoin Miners, has made a pivot away from just Bitcoin Mining toward supporting High Performance Computing for A.I. They have stated that they will NOT expand their Mining business any further, but keep operating it as the "cash cow" that it is. They will put all future resources into HPC for A.I. They already have 15 active Data Centers, and 461MW capacity. In addition to sites in North America, they also have sites in South America. They are Multi-National and build where ever the power is cheap. All they need now is some customers for their data centers and we are off to the races.
Currently the shares outstanding is about 556 million. The Short position is about 51 million shares. Shares sold short are borrowed and have to be repurchased at some point. Sometime a sizeable short position is a good thing because it adds to the number of shares available to be purchased. Now might be a good time to load up while the shares are cheap. Also, RIOT is holding about 14% of the float. As I recall they paid over $3/share for the position so I think they won't unload until they have a profit. Why should they sell at a loss; they don't need the money.
The point of all of this is, I believe this stock is a very good candidate for a Short Squeeze that will require the short sellers to cover their short positions at increasingly higher prices. And of course, Bitcoin is expected to increase in price also. As of May, Bitfarms is holding about 1005 Bitcoin worth over $100M. Everything considered, Bitfarms stock is extremely undervalued. That is if you believe that Bitcoin and A.I. have a future.
As I said earlier, it would be not be unusual to see BITF shares double in price in one day.
All just my opinion... Good Luck to All Longs.