Bitfarms (TSE:BITF) Shares Up 10% – Still a Buy?

Shares of Bitfarms Ltd. (TSE:BITF) were up 10% during trading on Friday . The stock traded as high as C$2.85 and last traded at C$2.85. Approximately 4,556,685 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 3,692,368 shares. The stock had previously closed at C$2.59.

Bitfarms Stock Up 10.0 %

The company has a market cap of C$1.29 billion, a P/E ratio of -5.82 and a beta of 3.20. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.63 and a current ratio of 5.11. The business’s fifty day moving average is C$2.82 and its two-hundred day moving average is C$3.02.

Insider Transactions at Bitfarms

In other news, insider Riot Platforms, Inc. purchased 27,300 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of C$2.30 per share, for a total transaction of C$62,653.50. Over the last three months, insiders have purchased 136,949 shares of company stock valued at $349,963. 23.34% of the stock is currently owned by company insiders.

Bitfarms Company Profile

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.