Canadian bitcoin mining company Bitfarms will go public on Nasdaq
Bitfarms, a Canadian bitcoin mining company, will soon be listed on Nasdaq under the ticker ‘BITF’, as announced by the company on Friday (07). For the company, “this represents a powerful validation of our global focus that has been at the heart of Bitfarms since its foundation”.
According to the press release, Bitfarms will also maintain its listing on the Canadian TSX Venture Exchange under the same ticker, which will also be used for the company’s securities traded on the over-the-counter (OTC) market. According to the company, the ticker used for Bitfarms’ securities traded on the over-the-counter (OTC) market under the current symbol ‘BFARF’ will be transferred absolutely to the new symbol “BITF” on its first day on the stock market.
Emiliano Grodzki, the CEO of Bitfarms, said that the approval for Nasdaq listing is an extraordinary achievement for Bitfarms and is the result of several years of work and dedication.
“In the past four years, we have managed to build and operate one of the largest Bitcoin mining operations in the world. It is fair that we are listed in one of the most prestigious exchanges in the world ”, commented Grodzki.
Bitfarms is listed on the Canadian stock exchange TSX Venture Exchange, a public venture capital market for emerging companies. In March, the company purchased 48,000 new mining machines, having already acquired more than 12,000 units in the previous months. With this acquisition, the company’s hash operational capacity will grow eight times compared to current levels until December 2022.
As announced last month, Bitfarms plans to create a farm with 210 Megawatts of power in Argentina, capable of feeding about 55,000 machines. The project is part of its expansion plan in South America.