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Bitfarms: A Bitcoin Play Offering Significant Long-Term Upside

Brett Rodway profile picture
Brett Rodway


  • The recent sell-off is creating a buying opportunity.
  • The Bitfarms story is dependent on the success and price growth of Bitcoin.
  • The company's network dominance is set to rise until the end of 2022.
  • Bitfarms also offers a better value compared to the competition.
  • I see an upside of 71%, with a price target of $10.38 (CAD13.30).

Cryptocurrency mining rigs in a data center

luza studios/E+ via Getty Images

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This article was written by

Brett Rodway profile picture
I take a holistic view of investing, with a top down approach looking for value deviations. Heavily interest in technology, but look for value anywhere!CFA level II candidate, holding a BBA in Accounting and Finance .

Analyst’s Disclosure: I/we have a beneficial long position in the shares of BITF, BTC-USD, ETH-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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