Is Bitfarms a Good Crypto Mining Stock to Buy for 2022?

Is Bitfarms a Good Crypto Mining Stock to Buy for 2022?

The shares of bitcoin self-mining company Bitfarms (BITF) have gained more than 150% in price over the past year, benefiting from bullish trends in the crypto space. However, the stock traded in a downtrend last month, with bitcoin declining significantly from its all-time high hit in November. Furthermore, with analysts expecting a crypto crash in the coming months amid increasing government regulations, the question has become is BIFT an ideal investment now? Read on to learn our view.

Is Bitfarms a Good Crypto Mining Stock to Buy for 2022? shutterstock.com – StockNews

Canada-based blockchain infrastructure company Bitfarms Ltd. (BITF) mines for cryptocurrency coins and tokens in North America. The company secured nearly 60,000 new-generation miners in 2021. BITF expanded its international footprint significantly over the year, growing its operational capacity by 53%, while its hashrate increased 228%. BITF mined 363 new BTC during December 2021, marking a better than 82% increase from…

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