Riot Platforms, Inc. Purchases 100,209 Shares of Bitfarms Ltd. (TSE:BITF) Stock

Bitfarms Ltd. (TSE:BITF) insider Riot Platforms, Inc. bought 100,209 shares of Bitfarms stock in a transaction on Wednesday, July 31st. The shares were purchased at an average cost of C$2.62 per share, with a total value of C$262,547.58.

Riot Platforms, Inc. also recently made the following trade(s):

• On Friday, July 26th, Riot Platforms, Inc. purchased 360 shares of Bitfarms stock. The stock was bought at an average cost of C$2.66 per share, with a total value of C$959.04.
• On Tuesday, July 9th, Riot Platforms, Inc. purchased 1,132 shares of Bitfarms stock. The shares were acquired at an average price of C$2.56 per share, for a total transaction of C$2,898.03.
• On Tuesday, June 11th, Riot Platforms, Inc. purchased 52,600 shares of Bitfarms stock. The shares were acquired at an average price of C$2.14 per share, for a total transaction of C$112,564.00.
• On Monday, June 3rd, Riot Platforms, Inc. purchased 700 shares of Bitfarms stock. The shares were acquired at an average price of C$2.34 per share, for a total transaction of C$1,637.65.

Bitfarms Stock Performance

Shares of TSE BITF traded down C$0.41 during trading hours on Monday, hitting C$3.03. 4,012,467 shares of the stock were exchanged, compared to its average volume of 4,092,330. The company has a debt-to-equity ratio of 6.74, a current ratio of 1.88 and a quick ratio of 0.63. The company’s 50 day moving average is C$3.56 and its 200 day moving average is C$3.27. The firm has a market capitalization of C$1.14 billion, a P/E ratio of -5.51 and a beta of 3.33. Bitfarms Ltd. has a one year low of C$1.26 and a one year high of C$5.25.

Wall Street Analyst Weigh In

Separately, ATB Capital upped their price objective on shares of Bitfarms from C$5.00 to C$7.50 and gave the stock an “outperform” rating in a report on Wednesday, June 19th.

About Bitfarms

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.