Bitfarms Ltd. (BITF) Gets Downgraded to Market Perform from Outperform by Keefe Bruyette – Here’s Why

Bitfarms Ltd. (NASDAQ:BITF) is one of the best strong buy stocks to invest in under $5. On January 26, Bitfarms Ltd. (NASDAQ:BITF) was downgraded to Market Perform from Outperform by Keefe Bruyette while raising the price target to $3 from $2.50. The firm told investors that it does not anticipate the materialization of a leasing agreement for the company until H2 2026. It also voiced concerns regarding the company’s rising leverage and increasing capex, and stated that it would adopt a more constructive outlook towards the shares with increased clarity on Bitfarms Ltd.’s (NASDAQ:BITF) liquidity and 2026 capex.

Is Bitfarms Ltd. (BITF) The Oversold Financial Stock To Buy Right Now?

In a separate development, Bitfarms Ltd. (NASDAQ:BITF) announced on January 14 the appointment of Edie Hofmeister as Chair of the Board of the company, which supports its previously announced strategy of redomiciling to the United States.

Bitfarms Ltd. (NASDAQ:BITF) also provided an update on January 2, announcing that it entered into a definitive share purchase agreement for the sale of its 70 MW site in Paso Pe, Paraguay, to the Sympatheia Power Fund (SPF), a crypto infrastructure fund managed by Singapore-based Hawksburn Capital. Management expects the transaction to close within 60 days of the release, marking the company’s exit from Latin America.

Bitfarms Ltd. (NASDAQ:BITF) is a vertically integrated Bitcoin mining company based in Canada. The company operates server farms that comprise computers (Miners) specifically designed to validate transactions on the Bitcoin Blockchain.

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Disclosure: None. This article is originally published at Insider Monkey.