Northland Securities Reiterates Buy Rating on Bitfarms with $3.25 PT

Northland Securities maintains a Buy rating on Bitfarms with a $3.25 price target, citing the company's strategic advancements and financial health. TipRanks analyst Michael Grondahl, who has a 5-star rating and an 11.0% average return, predicts a 101.57% upside from current levels. H.C. Wainwright also reiterated a Buy rating with a $4.00 price target. The company's market cap is $696M and P/E ratio is -7.31. However, corporate insider activity is negative, with an increase in insiders selling their shares.

Bitfarms Ltd. (BITF), a global energy and compute infrastructure company, reported its financial results for the second quarter ended June 30, 2025. The company's revenue for the quarter was $78 million, representing an 87% year-over-year increase. However, the company reported a net loss of $29 million, or $0.05 per share, compared to a net loss of $27 million, or $0.07 per share, in the same period last year. The company's gross mining margin decreased to 45% from 51% in the previous quarter.

Bitfarms has been executing a high-performance computing (HPC) and artificial intelligence (AI) growth strategy, partnering with industry-leading companies and expanding its energy portfolio. The company has submitted a master site plan for HPC/AI development at its Panther Creek campus in Pennsylvania and has partnered with data center builder and operator T5 Data Centers to advance HPC/AI development at the same campus.

The company's CEO, Ben Gagnon, stated, "Our North American energy portfolio positions Bitfarms to be a leader in HPC and AI infrastructure. With over 1 GW in our Pennsylvania pipeline, anchored by our flagship Panther Creek campus which is in close proximity to Amazon and CoreWeave sites, we aim to capture significant market share in what is quickly emerging as a new AI infrastructure hub."

The company's CFO, Jeff Lucas, added, "We executed several key initiatives over the last four months, including the Panther Creek financing, the commitment to our transition to U.S. GAAP accounting in Q4 2025, the announcement of our second principal executive office in New York City, and the commencement of our corporate share buyback program."

Bitfarms has also announced plans to discontinue operations at its mining operations in Argentina due to the previously-disclosed halting of the energy supply to the site since May 12, 2025, and future economic uncertainty in the region. The company expects to complete the shut down of its Argentina mining operation by November 11, 2025.

Northland Securities maintains a Buy rating on Bitfarms with a $3.25 price target, citing the company's strategic advancements and financial health. TipRanks analyst Michael Grondahl predicts a 101.57% upside from current levels, while H.C. Wainwright also reiterated a Buy rating with a $4.00 price target. The company's market cap is $696 million and P/E ratio is -7.31. However, corporate insider activity is negative, with an increase in insiders selling their shares.

References:
[1] https://finance.yahoo.com/news/bitfarms-ltd-bitf-reports-q2-190002352.html
[2] https://www.globenewswire.com/news-release/2025/08/12/3131540/0/en/Bitfarms-Reports-Second-Quarter-2025-Results.html