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Bitcoin mining company Bitfarms stock price rose 8% and announced a repurchase of up to 10% of outstanding shares
Odaily News Bitcoin miner Bitfarms (BITF) announced that it will launch a stock repurchase plan starting July 28, and plans to repurchase up to 50 million shares through Nasdaq and Toronto Stock Exchange in the next 12 months, accounting for about 10% of the outstanding shares. CEO Ben Gagnon said that the companys valuation is underestimated, and the market does not fully reflect its Bitcoin and high-performance computing (HPC) potential. It plans to use US energy assets to promote the expansion of AI infrastructure. (CoinDesk)
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