Bitfarms has initiated a 64 million USD buyback plan, authorized to repurchase up to 49,943,031 shares, approximately 10% of its public float. This move follows a significant acquisition of Stronghold Digital Mining to enhance its operations in the AI sector.
The stock price surged by nearly 14% after the announcement, now valued at 1.28 USD. CEO Ben Gagnon expressed that the market overlooks the value of Bitfarms’ Bitcoin business, which impacts stock perception alongside its computing potential.
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