Renaissance Technologies LLC Acquires 882,700 Shares of Bitfarms Ltd. $BITF

Key Points

• Renaissance Technologies increased its Bitfarms stake by 12.8%, purchasing 882,700 additional shares to own 7.77 million shares valued at approximately $15.1 million, or 1.29% of the company.
• Other institutional investors also expanded their positions, including Invesco, Vident Advisory, CastleKnight Management, and Mirae Asset Global ETFs; institutions collectively own 20.59% of Bitfarms.
• Bitfarms shares were reported as up 27.4%, with the stock opening at $4.05 and trading between a 52-week low of $0.70 and high of $6.60. The Bitcoin miner operates data centers using primarily low-cost, renewable energy.

Renaissance Technologies LLC raised its stake in shares of Bitfarms Ltd. (NASDAQ:BITF - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,767,131 shares of the company's stock after buying an additional 882,700 shares during the quarter. Renaissance Technologies LLC owned about 1.29% of Bitfarms worth $15,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Invesco Ltd. lifted its holdings in shares of Bitfarms by 8.6% in the third quarter. Invesco Ltd. now owns 14,373,522 shares of the company's stock worth $40,533,000 after buying an additional 1,138,549 shares in the last quarter. Vident Advisory LLC grew its stake in Bitfarms by 70.0% during the second quarter. Vident Advisory LLC now owns 11,364,106 shares of the company's stock valued at $9,538,000 after acquiring an additional 4,677,425 shares in the last quarter. CastleKnight Management LP grew its stake in Bitfarms by 20.4% during the fourth quarter. CastleKnight Management LP now owns 8,293,169 shares of the company's stock valued at $19,489,000 after acquiring an additional 1,407,769 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Bitfarms by 36.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,060,389 shares of the company's stock valued at $19,941,000 after acquiring an additional 1,898,490 shares during the last quarter. Finally, Situational Awareness LP bought a new stake in Bitfarms in the 4th quarter valued at $16,208,000. Institutional investors own 20.59% of the company's stock.

Bitfarms Stock Up 27.4%

Shares of BITF stock opened at $4.05 on Friday. The company's fifty day simple moving average is $5.16 and its two-hundred day simple moving average is $3.52. Bitfarms Ltd. has a 52 week low of $0.70 and a 52 week high of $6.60. The stock has a market cap of $2.44 billion, a P/E ratio of -17.61 and a beta of 3.77. The company has a quick ratio of 3.14, a current ratio of 3.20 and a debt-to-equity ratio of 0.11.

Bitfarms Profile

Bitfarms Ltd. is a publicly traded, vertically integrated Bitcoin mining company listed on the NASDAQ under the ticker BITF. The company engages in the large-scale operation of cryptocurrency mining farms, leveraging specialized computing hardware to validate and secure the Bitcoin blockchain. By converting electrical energy into computing power, Bitfarms plays a critical role in processing transactions on the Bitcoin network and earning mining rewards.

Bitfarms operates data centers in several jurisdictions with access to low-cost, primarily renewable energy sources.

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