Bitfarms (NASDAQ:BITF) stock is in the news Tuesday after the Bitcoin (BTC-USD) mining company announced Ben Gagnon as its new CEO. Bitfarms notes that its selection of a new CEO is separate from its process of reviewing strategic alternatives. The company's special committee will continue to evaluate opportunities to maximize shareholder value. Bitfarms is facing ongoing pressure from Riot Platforms (NASDAQ:RIOT) as it's seeking a takeover of the BTC mining company. Its latest efforts include launching a w ...

TORONTO, Ontario and BROSSARD, Québec, July 08, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (TSX:BITF), a global vertically integrated Bitcoin data center company, today announced that the Board of Directors has appointed Ben Gagnon Chief Executive Officer, effective immediately. He was previously Chief Mining Officer. "I am honored to be appointed CEO and am excited for the opportunity to lead and work alongside such a talented team," said Mr. Gagnon. "This has been a transformational year for the Company, and ...

However, this month, the Fear and Greed Index has shifted from 'greed' to 'neutral.' Despite this, the market could see a significant upturn with expected interest rate cuts later in the year. These anticipated interest rate cuts in the latter half of the year may inject additional vitality into the market, offering considerable upside potential for penny stock investments. Grab Holdings (NASDAQ: GRAB) On the charts, GRAB stock has recorded a positive 8.03% growth since 2024 started, while the previous 365 ...

TORONTO, Ontario and BROSSARD, Quebec, July 01, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ/ TSX: BITF), a global vertically integrated Bitcoin mining company, provides its monthly production report and update on its fleet upgrade and expansion. All financial references are in U.S. dollars. Executing on our strategy to cost-effectively expand our U.S. operating footprint, Bitfarms entered into a new agreement to develop a 120 MW site in Sharon, Pennsylvania. Situated strategically within the Pennsylvania ...

Media Contacts: U.S.: Joele Frank, Wilkinson Brimmer Katcher Dan Katcher or Joseph Sala +1 212-355-4449 Québec: Tact Louis-Martin Leclerc +1 418-693-2425 lmleclerc@tactconseil.ca Bitfarms This forward-looking information is based on assumptions and estimates of management of the Company at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future res ...

TORONTO, Ontario and BROSSARD, Quebec, June 27, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (Nasdaq/TSX: BITF) ("Bitfarms" or the "Company"), a global Bitcoin vertically integrated company, today announced that its Board of Directors has unanimously approved the appointment of Fanny Philip to the Company's Board, effective immediately. With the appointment of Ms. Philip, Bitfarms' Board is now composed of five directors, four of whom are independent. "Bitfarms has tremendous momentum underway, and I am excited t ...

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated March 8, 2024, to its short form base shelf prospectus dated November 10, 2023 Ms. Philip is a recognized expert in the blockchain technology field and an accomplished finance executive with an extensive background in audit, public company reporting and mergers and acquisitions. She is the founder of MTI Conseils Inc., an accounting firm that provides outsourced accounting and CFO services ...

Investing in growth stocks under $10 could prove incredibly lucrative over the long term. However, with megacap stocks dominating the market, it's easy to overlook penny stocks that could become giants in the future. Remember, today's stock market bellwethers began as humble, low-priced stocks. Source: PHOTOCREO Michal Bednarek / Shutterstock.com The firm is targeting an ambitious 35 EH/s in hash rate capacity by 2025, underscoring its commitment to scaling operations. Hence, its forward-thinking approach m ...

Core Viewpoint - Bitfarms is committed to maximizing shareholder value through a strategic alternatives review process, which includes evaluating a proposal from Riot Platforms that was deemed significantly undervalued [2][7]. Group 1: Strategic Review Process - The Bitfarms Board established a Special Committee of independent directors to conduct a thorough evaluation of opportunities to maximize shareholder value [2]. - Riot's proposal of $2.30 per share represents a 22% discount to Bitfarms' closing price as of June 21, 2024, and was considered significantly undervalued by the Special Committee [2]. - The Special Committee has invited Riot to engage in the process but expressed disappointment at Riot's lack of constructive participation [2]. Group 2: Company Overview - Bitfarms is a global Bitcoin mining company founded in 2017, operating vertically integrated mining farms with in-house management and technical services [9]. - The company currently operates 12 Bitcoin mining facilities and has one under development across Canada, the United States, Paraguay, and Argentina, primarily powered by environmentally friendly hydroelectric energy [10]. - Bitfarms utilizes a proprietary data analytics system to enhance operational performance and uptime [9]. Group 3: Shareholder Engagement - Bitfarms confirmed receipt of a shareholder meeting requisition from Riot, aimed at gaining control of the Board of Directors [7]. - The company remains committed to constructive engagement with all shareholders and will review the requisition, providing updates in due course [8]. - Shareholders are not required to take any action at this time regarding the requisition [8].

Group 1 - Riot Platforms is pursuing a direct engagement with Bitfarms shareholders, calling for a special shareholder meeting to discuss its acquisition plans [1][2][6] - The company has withdrawn its previous offer of $2.30 per share for all outstanding Bitfarms shares after the offer was rejected by Bitfarms' board [5] - Riot Platforms aims to replace three current Bitfarms board members with independent directors, leveraging its position as the largest investor with a 14.9% stake [6][7] Group 2 - Following Riot Platforms' actions, Bitfarms' stock (BITF) has decreased by 6.1%, with over 12 million shares traded, which is below its daily average of approximately 22 million shares [7]