Bitfarms (TSE:BITF) Stock Price Up 4.5% - Here's What Happened

Key Points

• The stock price of Bitfarms Ltd. rose 4.5% to C$1.86 with a significant trading volume of approximately 3.6 million shares, exceeding the average daily volume by 66%.
• Company insiders sold a total of 1,100,437 shares worth C$1.42 million over the last ninety days, with insiders retaining 23.38% ownership of the company's stock.
• Bitfarms operates 10 mining farms across Canada, the United States, Paraguay, and Argentina, focusing on vertically integrated Bitcoin mining services.

Bitfarms Ltd. (TSE:BITF - )'s share price rose 4.5% on Wednesday . The company traded as high as C$1.89 and last traded at C$1.86. Approximately 3,645,061 shares were traded during trading, an increase of 66% from the average daily volume of 2,202,240 shares. The stock had previously closed at C$1.78.

Bitfarms Trading Up 4.5%

The stock has a market cap of C$652.34 million, a PE ratio of -4.19 and a beta of 3.20. The stock has a 50-day moving average price of C$1.54 and a two-hundred day moving average price of C$1.47. The company has a debt-to-equity ratio of 4.68, a current ratio of 3.70 and a quick ratio of 0.63.

Insider Buying and Selling at Bitfarms

In other news, insider Riot Platforms, Inc. sold 450,496 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of C$1.11, for a total transaction of C$499,915.41. Insiders sold a total of 1,100,437 shares of company stock worth $1,422,407 in the last ninety days. Company insiders own 23.38% of the company's stock.

Bitfarms Company Profile

Bitfarms is a global, publicly traded NASDAQ/TSX: BITF Bitcoin mining company. Bitfarms develops, owns, and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Companyâ¿¿s proprietary data analytics system delivers best-in-class operational performance and uptime.Bitfarms currently has 10 farms, which are located in four countries: Canada, the United States, Paraguay, and Argentina.

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