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Bitfarms: Attempting A Datacenter Play With Stronghold Acquisition
Summary
- Even with the current BTC price appreciation, hashprice remains too low for the mining part of Bitfarms to be profitable.
- Miners are stuck in the endless loop of having to procure more efficient miners.
- Increased competition from countries with cheap electricity like Kazakhstan and Russia.
I first entered investing in 2016 as an individual value investor. In 2022, I established the investment firm Libra Capital. I mostly write articles as part of my deep research into a company before I make an investment, whether long or short. For me, a ''hold'' article means don't touch the stock; neither is it a buy nor a short, because I believe there are better opportunities out there.
Analyst’s Disclosure: I/we have a beneficial short position in the shares of BITF 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.
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