Core Insights - Bitfarms plans to convert its Washington site to support HPC/AI workloads, targeting completion by December 2026 [1][2] - The facility will feature advanced liquid cooling and support Nvidia GB300s, with a capacity of 18 MW and a Power usage Effectiveness (PuE) ratio between 1.2 and 1.3 [2][3] - The company has secured a fully funded agreement worth US$ 128 million for critical IT equipment and building materials [2][3] Company Strategy - The conversion of the Washington site is part of Bitfarms' HPC/AI infrastructure development strategy, aiming to generate more net operating income than Bitcoin mining [3][6] - The company holds nearly a billion dollars in cash and unused credit facilities, allowing for potential GPU financing options [3][6] - Bitfarms is exploring GPU-as-a-Service and cloud monetization strategies specifically for the Washington site [3][6] Infrastructure and Technology - The facility will utilize modular infrastructure for phased deployment and scalability, ensuring compatibility with Nvidia GB300 GPUs [7][6] - Proven thermal and power management systems will be critical for supporting HPC/AI workloads [7][6] - The site is designed to enable high-performance computing with advanced liquid cooling technology [3][6] Financial Position - The conversion of the Washington site is expected to provide a strong cash flow foundation to support operational expenses, general and administrative costs, and debt service [3][6] - The company aims to wind down its Bitcoin mining business in 2026 and 2027, reallocating resources towards HPC/AI opportunities [3][6] Company Overview - Bitfarms is a North American energy and digital infrastructure company focused on building and operating data centers for high-performance computing and Bitcoin mining [4][5] - The company has a 2.1 GW energy portfolio across North America, strategically located in data center hotspots [4][5]

Core Insights - Bitfarms Ltd. (BITF) is set to report its third-quarter 2025 results on November 13, with expected revenues of $83.1 million, reflecting an 85.3% increase from the same quarter last year. The consensus estimate for loss per share is 2 cents, compared to a loss of 9 cents in the previous year [1][8]. Financial Performance - Over the past 60 days, one EPS estimate for Q3 2025 has been revised downward, with no upward adjustments made [2]. - Bitfarms has a strong earnings surprise history, having beaten the Zacks Consensus Estimate in three out of four quarters, with an average earnings surprise of 25% [3]. Earnings Outlook - The likelihood of Bitfarms achieving an earnings beat this quarter is low, as the company currently has an Earnings ESP of -100.00% and a Zacks Rank of 4 (Sell) [4]. - The volatility in Bitcoin prices directly impacts Bitfarms' financial performance, with Bitcoin prices increasing nearly 8% from July 1, 2025, to September 30, 2025, which may have affected the number of bitcoins mined by the company due to increased competition among miners [6]. Stock Performance - Bitfarms' stock has increased by 48.8% over the past year, outperforming the industry growth of 32.1% and the Zacks S&P 500 composite's 17.9% rise. However, it has underperformed compared to Cipher Mining, which saw a 182% increase [7]. Valuation Metrics - The current trailing 12-month price-to-sales ratio for BITF is 5.27, which is lower than Cipher Mining's 20.32 but slightly higher than Bit Digital's 5.2 [11]. Strategic Initiatives - Bitfarms is shifting its focus from Bitcoin mining to High-Performance Computing and AI (HPC/AI) as a diversification strategy to mitigate Bitcoin volatility risks and tap into the growing demand for data centers [14]. - However, this transition faces challenges, including the need for regulatory approval, securing long-term contracts for recurring revenues, and managing a significant debt load due to the capital-intensive nature of building data centers [15][16]. Financial Health - The company's return on equity is currently at -9.9%, compared to the industry's 15.9%, indicating fundamental unprofitability and operational losses. The return on invested capital stands at -9.5%, against the industry's 8%, raising concerns about financial risk and capital management [16]. Investment Recommendation - Given the risks associated with reliance on Bitcoin mining and the uncertain outlook for earnings, potential buyers are advised to avoid investing in Bitfarms ahead of its earnings release. Current investors are recommended to sell their positions to realize profits [17][18].

Earnings Reports Overview - The earnings season is slowing down, but several retail-favorite companies are set to report this week [1] - Key companies reporting include Barrick Mining Corp., Plug Power Inc., Oklo Inc., Cisco Systems Inc., Walt Disney Co., and Applied Materials Inc. [2][3][5][10][11] Company-Specific Insights - Barrick Mining Corp. reported its third-quarter results before the market opened on November 10 [2] - Plug Power Inc. is expected to report losses of 12 cents per share and revenue of $179.54 million, having missed earnings expectations for the last 18 quarters [3] - Oklo Inc. is anticipated to report losses of 13 cents per share and revenue of $17.01 billion, with stock volatility noted ahead of the report [5] - Cisco Systems Inc. is expected to be a focal point for investors, particularly regarding management's guidance and updates on AI and cybersecurity business momentum [10] - Walt Disney Co. and JD.com Inc. will release earnings reports before the market opens on November 13 [11] - Applied Materials Inc. is set to release its Q4 results after the market closes on November 13 [11] Additional Companies Reporting - Other companies reporting this week include Workhorse Group Inc., Beyond Meat Inc., Microvision Inc., and Virgin Galactic Holdings Inc. [4][6][12]

Core Viewpoint - Cryptocurrency-related stocks experienced a pre-market increase, indicating positive market sentiment towards the sector [1] Company Summaries - Coinbase saw a pre-market rise of 3.0% [1] - Bitfarms increased by 5.2% in pre-market trading [1] - Strategy stock rose by 2.6% before the market opened [1]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Bitfarms Ltd. due to higher revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - The earnings report is expected on November 13, with a consensus estimate of a quarterly loss of $0.02 per share, reflecting a year-over-year change of +77.8%. Revenues are projected to be $83.11 million, an increase of 85.3% from the previous year [3][2]. Estimate Revisions - The consensus EPS estimate has been revised 50% lower in the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4][12]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows a negative Earnings ESP of -100.00% for Bitfarms, suggesting analysts have become more pessimistic. The stock currently holds a Zacks Rank of 4, complicating predictions of an earnings beat [12][10]. Historical Performance - In the last reported quarter, Bitfarms was expected to post a loss of $0.01 per share but actually reported a loss of -$0.02, resulting in a surprise of -100.00%. Over the last four quarters, the company has beaten consensus EPS estimates two times [13][14]. Industry Comparison - Viant Technology, another player in the Zacks Technology Services industry, is expected to report earnings per share of $0.13, reflecting a year-over-year change of -13.3%. Revenues are expected to be $85.29 million, up 80.1% from the previous year [18][19].

Core Insights - Wall Street anticipates a year-over-year increase in earnings for Bitfarms Ltd. due to higher revenues, with a focus on how actual results will compare to estimates [1][2] - The upcoming earnings report on November 13 is crucial for stock movement, with better-than-expected results likely to drive the stock higher, while misses could lead to declines [2] Financial Expectations - The consensus estimate indicates a quarterly loss of $0.02 per share, reflecting a year-over-year improvement of 77.8% [3] - Expected revenues are projected at $83.11 million, representing an 85.3% increase from the same quarter last year [3] Estimate Revisions - The consensus EPS estimate has been revised down by 50% over the last 30 days, indicating a reassessment by analysts [4] - It is important to note that the direction of estimate revisions may not always align with the aggregate change [4] Earnings Prediction Model - The Zacks Earnings ESP model compares the Most Accurate Estimate to the Zacks Consensus Estimate, providing insights into potential earnings surprises [7][8] - A positive Earnings ESP reading suggests a likely deviation from the consensus estimate, particularly effective for positive readings [9] Predictive Power of Earnings ESP - A positive Earnings ESP is a strong indicator of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [10] - Research indicates that stocks with this combination achieve a positive surprise nearly 70% of the time, enhancing the predictive power of Earnings ESP [10]

Company Performance - Bitfarms Ltd. closed at $3.84, reflecting a -6.57% change from the previous day, underperforming compared to the S&P 500's daily loss of 1.17% [1] - Prior to the recent trading session, Bitfarms shares had gained 18.79%, outperforming the Business Services sector's loss of 5.24% and the S&P 500's gain of 2.12% [1] Upcoming Earnings Report - Bitfarms Ltd. is scheduled to release its earnings on November 13, 2025, with projected earnings of -$0.02 per share, indicating a year-over-year growth of 77.78% [2] - The consensus estimate for revenue is $83.11 million, which represents an increase of 85.31% from the prior-year quarter [2] Fiscal Year Projections - For the entire fiscal year, the Zacks Consensus Estimates project earnings of -$0.15 per share and revenue of $314.54 million, reflecting changes of -7.14% and +63.07% respectively from the prior year [3] - Recent adjustments to analyst estimates for Bitfarms Ltd. may indicate analysts' confidence in the company's business performance and profit potential [3] Zacks Rank and Industry Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently rates Bitfarms Ltd. at 4 (Sell), with a recent downward shift of 16.67% in the consensus EPS estimate [5] - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 85, placing it in the top 35% of over 250 industries [6]

Group 1 - Bitfarms Ltd. is transitioning from traditional Bitcoin mining to operating energy-powered AI infrastructure [1] - The company has a self-sustaining business model and a liquid balance of $230 million [1] - Bitfarms has established a line of credit to support its operations [1] Group 2 - The investment strategy focuses on identifying high-potential opportunities with significant upside potential [1] - The approach emphasizes risk management and maintaining a strong margin of safety [1] - A 2-3 year investment horizon is adopted to navigate market volatility and achieve long-term compounding [1]

Group 1 - Bitfarms Ltd. is transitioning from traditional Bitcoin mining to operating energy-powered AI infrastructure [1] - The company has a self-sustaining business model and a liquid balance of $230 million [1] - Bitfarms has established a line of credit with an undisclosed financial institution [1]

Core Insights - Bitfarms Ltd. (NASDAQ:BITF) is recognized as one of the 12 best-performing stocks over the last three months, with analysts raising price targets due to positive market conditions [1][3]. Company Performance - H.C. Wainwright analyst Mike Colonnese raised the price target for Bitfarms from $4 to $5.50 while maintaining a Buy rating, reflecting confidence in the company's performance [1]. - B. Riley also increased its price target for Bitfarms from $3 to $7, indicating a significant upward revision in expectations for the company [3]. Industry Trends - The mining sector, including Bitfarms, is expected to report strong Q3 results, driven by steady growth in Bitcoin prices [2]. - Public miners added 58.4 EH/s to their mining capacity during Q3, indicating an expanding hash rate in the industry [2]. Company Overview - Bitfarms Ltd. operates as an energy and digital infrastructure company, focusing on designing, building, and operating vertically integrated data centers and energy infrastructure for high-performance computing and Bitcoin mining [4].