Bitfarms: Attempting A Datacenter Play With Stronghold Acquisition

Summary:

  • Even with the current BTC price appreciation, hashprice remains too low for the mining part of Bitfarms to be profitable.
  • Miners are stuck in the endless loop of having to procure more efficient miners.
  • Increased competition from countries with cheap electricity like Kazakhstan and Russia.

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Analyst’s Disclosure: I/we have a beneficial short position in the shares of BITF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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