Forget Saylor's MSTR — Bitfarms' AI Power Play Has Wall Street Talking $12 Next - Bitfarms (NASDAQ:BITF)

Core Insights - Bitfarms Ltd. is pivoting from cryptocurrency mining to high-performance computing and AI infrastructure, leveraging a $300 million project financing arrangement with Macquarie Group [2][12] - The company has experienced a significant stock rally, with shares rising over 20% recently, indicating a potential trend reversal and strong buying momentum [6][10] Financial Developments - Bitfarms converted its private debt facility with Macquarie into a project financing arrangement, allowing for greater flexibility and faster access to capital [2][3] - The total funding drawn from the facility now stands at $100 million, aimed at advancing equipment orders and civil works for the Panther Creek data center in Pennsylvania [2] Market Positioning - The company is well-positioned to capitalize on the growing demand for data centers in Pennsylvania, which is emerging as a new AI hub [3] - Comparisons are being made between Bitfarms and Strategy Inc., highlighting the potential for digital asset firms to reinvent themselves as AI-finance hybrids [12] Technical Analysis - Bitfarms' stock has broken above a multi-year resistance zone, with the next key resistance levels identified at $6.50–$7.00, and a potential target of $12.00 if the breakout continues [6][11] - The daily chart shows strong buying momentum, with the stock climbing from a $1.00 base and crossing above all major moving averages [10]