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How to Buy Bitfarms Stock

Bitfarms Ltd

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in North America.

Bitfarms stock last closed at $2.27, down 1.3% from the previous day, and has increased 94.02% in one year. It has overperformed other stocks in the Capital Markets industry by 0.69 percentage points. Bitfarms stock is currently +147.01% from its 52-week low of $0.92, and -41.94% from its 52-week high of $3.91.

At the moment, there are 356.29M shares of BITF outstanding. The market value of BITF is $808.78M. In the past 24 hours, 24.75M BITF shares were traded.

How to Buy Bitfarms Stock

Not sure how to invest in Bitfarms stock? Here's how.
  1. Choose where to buy Bitfarms stock: You need to choose a stock brokerage, but don't worry - we've sifted through dozens of stock brokerages and apps to help you decide where to buy Bitfarms stock.
  2. Sign up for a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've identified.
  3. Deposit funds into your brokerage account: Pick your method of payment and add your information.
  4. Analyze Bitfarms stock: The Bitfarms ticker symbol is BITF. Is Bitfarms stock a good investment? Should you buy shares of BITF? How do BITF's underlying business fundamentals look? Do top analysts think Bitfarms is a good buy? Why has BITF's stock price moved recently? (Hint: Our stock research tools can help you evaluate if BITF is a good stock to buy).
  5. Execute your BITF purchase: Decide if you will purchase BITF shares at the current market price or use a limit order to purchase BITF stock at a specific price.
  6. Get notifications regarding your BITF investment: Create a watchlist to track your position in Bitfarms stock.

Step 1: Choose where to buy Bitfarms stock

You will need an online brokerage account in order to access the NASDAQ market and buy BITF shares.

A brokerage account allows you to buy and sell a number of financial instruments, including stocks, bonds, mutual funds, and ETFs.

Our preferred brokerage: eToro

We believe that eToro is the best stock brokerage. eToro gives you:

  • You can invest in stocks with 0% commissions: Invest without commissions.
  • Buy fractional shares: Even if you don't have the money to buy a full share, you can still purchase the stock.
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  • Social investing: eToro offers a community with more than 20 million users worldwide. Talk to, learn from, and copy the unique crypto portfolios of top investors.
  • Security: eToro is a regulated and licensed brokerage platform.
  • Buy other financial assets: Such as ETFs and cryptocurrencies.

Get $10 towards your share purchase by opening an account with eToro today.

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Step 2: Sign up for a brokerage account

Now that you've selected your brokerage, you'll need to fill out some personal details so you can buy BITF today.

How to Set Up a New Account on eToro

  1. Click here to get started.
    eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
  2. Enter your personal info to start your new brokerage account.
  1. Send your details by clicking the "Create Account" button.
  2. Get started with eToro today
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Step 3: Deposit funds into your brokerage account

Now that you have filled out your info on a mobile trading app, your next step is to transfer the money for your investment:

Check out the tutorial below for more details transferring money into your new investment account.

Get started with eToro today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Step 4: Analyze Bitfarms stock

After you have decided on the best place to buy Bitfarms stock, it's important to evaluate their stock prior to investing, so you can understand the risk and upside.

Bitfarms stock data

BITF Price
$2.27
1w %
-5.81%
1y %
94.02%
5y %
N/A
P/E
N/A
P/B
2.21x
P/S
4.61x
PEG
N/A
Revenue
$166.63M
Earnings
-$106.95M
Fore. Rev. Growth
57.01%
Fore. Earn. Growth
N/A
Market Cap
$808.78M
Next Earnings
Aug 6, 2024
Next Dividend
N/A

Bitfarms Fundamentals

WallStreetZen was built to help average investors perform more in-depth fundamental analysis in less time.

You can view all of the due diligence checks on BITF's stock page.

Is BITF stock properly valued?

Analysts use a variety of different financial metrics, analyses, models, and charts to gauge BITF's intrinsic value.

Using relative valuations metrics:

  • BITF could be overvalued based on its P/B ratio of 2.21x, relative to Capital Markets industry P/B ratio of 1.88x

You can do more valuation research on BITF's stock here.

BITF Financial Health

Signs that BITF is financially healthy:

  • BITF has a low debt to equity ratio of 0.17.
  • BITF has cash burn of 98537000. It has sufficient cash and short-term investments to cover this for at least one year.
  • There are more short-term assets than long-term liabilities on the BITF balance sheet.
  • There are more short-term assets than short-term liabilities on the BITF balance sheet.

Signs that BITF is not financially healthy:

  • BITF profit margin has gone up by 0.75 percentage points in the past year, but the company is still unprofitable.
  • BITF has $126.52M in cash and short term investments. This is not sufficient to cover its annual cash burn of $98.54M.

Is BITF stock a Buy, Hold, or Sell, according to Wall Street analysts?

Out of 5 Equities analysts who give forecasts on BITF, the consensus analyst rating on BITF is a Strong Buy

Please note that analyst ratings are not recommendations, nor are they financial advice.

You can dig deeper into what analysts are projecting on the Bitfarms stock forecast page.

BITF Momentum

SMA10
2.33
SMA20
2.11
SMA50
1.99
SMA100
2.28
SMA200
1.96
MACD
0.12
MACD Signal
0.1
MACD Histogram
0.02
RSI
56.64
Stochastic %K
66.65
Stochastic %D
76.69
StochRSI %K
42.49
StochRSI %D
64.18

Is BITF Growing Revenue?

Last year, BITF revenue was $166.63M. During the past 3 year, BITF's revenue has gone up by 127.86% per year. This was faster than the Capital Markets industry average of 16.13%.

Dig into BITF's earnings and revenue performance here.

Who is buying/selling BITF?

Over the past 12 months, insiders at BITF have not bought or sold any shares.

Dig into more about who owns BITF shares here.

Can I get consistent income from BITF stock?

No, Bitfarms doesn't provide an income stream by paying out dividends.

What others are saying about BITF

One of the major reasons eToro is our top-rated brokerage is because of its social trading community.

Click below to find out what other investors have to say.

Step 5: Execute your BITF purchase

You have two main options:

  • Market order: A market order is an order to buy or sell a security at the best available price.
    Market orders are mostly sufficient.
  • Limit order: A limit order enables you to buy or sell a security at a specific price (or better).
    If you want to make sure you're buying or selling at an exact price, place a limit order.

Click the Open button and eToro will execute your order.

If you want more info about investing in stocks on eToro, watch the how to video below:

Open eToro Account

Step 6: Get notifications regarding your BITF investment

Now that you own some BITF shares, you'll want to stay up-to-date on your new stock purchase.

Put BITF on a watchlist to track the most important metrics related to your BITF stock.

BITF Feed

How to Buy Stock in Bitfarms

To summarize, here are the 6 steps to buy Bitfarms stock:

  1. Choose where to buy Bitfarms stock
  2. Sign up for a brokerage account
  3. Deposit funds into your brokerage account
  4. Analyze Bitfarms stock
  5. Execute your BITF purchase
  6. Get notifications regarding your BITF investment

If you are looking for a online brokerage, eToro is our recommended venue.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you would like to get the latest scoop on your new investment in Bitfarms, click below.

NASDAQ: BITF
$2.27-0.03 (-1.3%)
Updated Jun 11, 2024
Open eToro Account
NASDAQ: BITF
$2.27-0.03 (-1.3%)
Updated Jun 11, 2024
Open eToro Account

FAQ

How much does it cost to buy one Bitfarms share?

As of Jun 11, 2024, it costs $2.27 to buy one share of Bitfarms stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $1, you can buy 0.441 shares of BITF.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Bitfarms stock?

According to 5 Wall Street analysts who monitor Bitfarms, their consensus recommendation is to buy Bitfarms stock.

What is the best way to buy Bitfarms stock?

One way to place an order for Bitfarms stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.