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Bitcoin mining institution Bitfarms has announced a stock buyback program, authorizing the repurchase of up to 49.9 cardinal communal shares, or 10% of its nationalist float, implicit the adjacent 12 months.
The Toronto Stock Exchange (TSX) approved the buyback program, and covers repurchases connected some the TSX and Nasdaq, according to an announcement connected Tuesday. The company’s shares connected Nasdaq closed up 16.8%.
The regular acquisition bounds connected TSX is capped astatine 494,918 shares, oregon 25% of the mean regular trading measurement for the past six months. On the Nasdaq, full repurchases cannot exceed 5% of outstanding shares over the programme period.
The institution volition wage marketplace terms for the shares during the buyback period, which begins July 28 2025 and ends July 27, 2026. All shares repurchased volition beryllium canceled, reducing the full fig of outstanding shares and perchance increasing the worth of shares inactive held by investors.
CEO Ben Gagnon said the determination reflects assurance successful Bitfarms’ concern and signals that its banal is undervalued. He highlighted the company’s propulsion into high-performance computing (HPC) and AI information centers, pointing to Bitfarms’ vigor portfolio in Pennsylvania as a maturation driver.
Founded successful 2017, Bitfarms operates 15 Bitcoin mining information centers across the US, Canada, Argentina, and Paraguay. The institution trades nether the ticker BITF on some the TSX and Nasdaq.
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Bitfarms rebrands itself arsenic an AI and HPC company
News of the stock buyback comes arsenic Bitfarms pivots from a Bitcoin mining institution to powerfulness AI applications. It is besides trying to hedge against imaginable commercialized wars by expanding successful the United States.
The pivot has go fashionable for mining companies, which already person the hardware, powerfulness and cooling systems needed for HPC, since the 2024 Bitcoin halving reduced profits. In March, a Coin Metrics study noted that Bitcoin miners are progressively turning to AI information halfway hosting to boost gross and marque amended usage of their existing infrastructure.
In a fiscal report released successful the archetypal 4th of 2025, Bitfarms reported a $36 cardinal nett loss, compared to a $6 cardinal nett nonaccomplishment successful Q1 2024. It also reported a gross nett margin decline to 63% from 43% year-over-year, signaling the Bitcoin halving’s effects connected miners’ profits.
The study besides shared that Bitfarms secured a $300 cardinal recognition enactment from Macquarie to grow an HPC installation successful Pennsylvania, and sold its Paraguay mining tract to Hive Digital for $85 million.
Gagnon said, “During the quarter, we executed crossed respective cardinal areas successful our strategical pivot to the US and HPC.”
In 2025, Bitfarm mined 693 BTC astatine an mean nonstop outgo of accumulation per BTC of $47,800
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