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Bitfarms Ltd
Buy, Hold or Sell?

Let's analyse Bitfarms together

PenkeI guess you are interested in Bitfarms Ltd. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Bitfarms Ltd. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Bitfarms (30 sec.)










What can you expect buying and holding a share of Bitfarms? (30 sec.)

How much money do you get?

How much money do you get?
$0.00
When do you have the money?
1 year
How often do you get paid?
0.0%

What is your share worth?

Current worth
$0.88
Expected worth in 1 year
$0.99
How sure are you?
62.5%

+ What do you gain per year?

Total Gains per Share
$0.11
Return On Investment
5.2%

For what price can you sell your share?

Current Price per Share
$2.16
Expected price per share
$2.1 - $3.91
How sure are you?
50%

1. Valuation of Bitfarms (5 min.)




Live pricePrice per Share (EOD)

$2.16

Intrinsic Value Per Share

$-5.17 - $-6.04

Total Value Per Share

$-4.29 - $-5.16

2. Growth of Bitfarms (5 min.)




Is Bitfarms growing?

Current yearPrevious yearGrowGrow %
How rich?$293.2m$328.3m-$46.8m-16.6%

How much money is Bitfarms making?

Current yearPrevious yearGrowGrow %
Making money-$26.2m-$59.7m$33.5m128.1%
Net Profit Margin-64.0%567.7%--

How much money comes from the company's main activities?

3. Financial Health of Bitfarms (5 min.)




4. Comparing to competitors in the Capital Markets industry (5 min.)




  Industry Rankings (Capital Markets)  


Richest
#142 / 373

Most Revenue
#166 / 373

Most Profit
#353 / 373

Most Efficient
#315 / 373

What can you expect buying and holding a share of Bitfarms? (5 min.)

Welcome investor! Bitfarms's management wants to use your money to grow the business. In return you get a share of Bitfarms.

What can you expect buying and holding a share of Bitfarms?

First you should know what it really means to hold a share of Bitfarms. And how you can make/lose money.

Speculation

The Price per Share of Bitfarms is $2.16. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Bitfarms.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Bitfarms, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $0.88. Based on the TTM, the Book Value Change Per Share is $0.03 per quarter. Based on the YOY, the Book Value Change Per Share is $-0.12 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.00 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Bitfarms.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 $% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share$% of Price per Share
Usd Eps-0.18-8.1%-0.10-4.4%-0.18-8.3%-0.05-2.5%-0.05-2.2%
Usd Book Value Change Per Share0.020.8%0.031.3%-0.12-5.8%0.041.9%0.041.7%
Usd Dividend Per Share0.000.0%0.000.0%0.000.0%0.000.0%0.000.0%
Usd Total Gains Per Share0.020.8%0.031.3%-0.12-5.8%0.041.9%0.041.7%
Usd Price Per Share2.91-1.61-1.59-1.74-1.45-
Price to Earnings Ratio-4.14--4.28-16.36--2.30--1.91-
Price-to-Total Gains Ratio169.00-1,497.77-1.54-330.40-330.40-
Price to Book Ratio3.32-1.89-1.44-5.33-4.44-
Price-to-Total Gains Ratio169.00-1,497.77-1.54-330.40-330.40-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share2.16
Number of shares462
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.000.00
Usd Book Value Change Per Share0.030.04
Usd Total Gains Per Share0.030.04
Gains per Quarter (462 shares)13.0318.84
Gains per Year (462 shares)52.1175.38
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
10524207565
20104940151140
301561460226215
402081980302290
502612500377365
603133020452440
703653540528515
804174060603590
904694580678665
1005215100754740

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share0.04.00.00.0%3.09.00.025.0%5.015.00.025.0%5.019.00.020.8%5.019.00.020.8%
Book Value Change Per Share4.00.00.0100.0%9.03.00.075.0%12.08.00.060.0%15.09.00.062.5%15.09.00.062.5%
Dividend per Share0.00.04.00.0%0.00.012.00.0%0.00.020.00.0%0.00.024.00.0%0.00.024.00.0%
Total Gains per Share4.00.00.0100.0%9.03.00.075.0%12.08.00.060.0%15.09.00.062.5%15.09.00.062.5%

Fundamentals of Bitfarms

About Bitfarms Ltd

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. It also undertakes hosting of third-party mining hardware. The company was founded in 2017 and is based in Toronto, Canada.

Fundamental data was last updated by Penke on 2024-03-20 11:28:04.

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a huge loss.
Using its assets, the company is very inefficient in making profit.
Using its investors money, the company is very inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating very inefficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

Valuation

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is expensive.
Based on how much money comes from the company's main activities, the company is expensive.

1.1. Profitability of Bitfarms Ltd.

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Bitfarms earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Bitfarms to the Capital Markets industry mean.
  • A Net Profit Margin of -123.6% means that $-1.24 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Bitfarms Ltd:

  • The MRQ is -123.6%. The company is making a huge loss. -2
  • The TTM is -64.0%. The company is making a huge loss. -2
Trends
Current periodCompared to+/- 
MRQ-123.6%TTM-64.0%-59.6%
TTM-64.0%YOY567.7%-631.7%
TTM-64.0%5Y93.0%-156.9%
5Y93.0%10Y63.1%+29.8%
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-123.6%9.8%-133.4%
TTM-64.0%10.0%-74.0%
YOY567.7%14.6%+553.1%
5Y93.0%13.0%+80.0%
10Y63.1%12.5%+50.6%
1.1.2. Return on Assets

Shows how efficient Bitfarms is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Bitfarms to the Capital Markets industry mean.
  • -15.6% Return on Assets means that Bitfarms generated $-0.16 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Bitfarms Ltd:

  • The MRQ is -15.6%. Using its assets, the company is very inefficient in making profit. -2
  • The TTM is -7.4%. Using its assets, the company is very inefficient in making profit. -2
Trends
Current periodCompared to+/- 
MRQ-15.6%TTM-7.4%-8.2%
TTM-7.4%YOY-14.2%+6.8%
TTM-7.4%5Y-5.9%-1.5%
5Y-5.9%10Y-9.3%+3.4%
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-15.6%0.3%-15.9%
TTM-7.4%0.3%-7.7%
YOY-14.2%0.4%-14.6%
5Y-5.9%0.4%-6.3%
10Y-9.3%0.4%-9.7%
1.1.3. Return on Equity

Shows how efficient Bitfarms is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Bitfarms to the Capital Markets industry mean.
  • -20.0% Return on Equity means Bitfarms generated $-0.20 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Bitfarms Ltd:

  • The MRQ is -20.0%. Using its investors money, the company is very inefficient in making profit. -2
  • The TTM is -9.1%. Using its investors money, the company is very inefficient in making profit. -2
Trends
Current periodCompared to+/- 
MRQ-20.0%TTM-9.1%-10.9%
TTM-9.1%YOY-20.0%+10.9%
TTM-9.1%5Y-10.1%+1.0%
5Y-10.1%10Y-15.0%+4.8%
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-20.0%1.4%-21.4%
TTM-9.1%1.5%-10.6%
YOY-20.0%2.1%-22.1%
5Y-10.1%1.9%-12.0%
10Y-15.0%2.0%-17.0%

1.2. Operating Efficiency of Bitfarms Ltd.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Bitfarms is operating .

  • Measures how much profit Bitfarms makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Bitfarms to the Capital Markets industry mean.
  • An Operating Margin of -32.0% means the company generated $-0.32  for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Bitfarms Ltd:

  • The MRQ is -32.0%. The company is operating very inefficient. -2
  • The TTM is -44.6%. The company is operating very inefficient. -2
Trends
Current periodCompared to+/- 
MRQ-32.0%TTM-44.6%+12.6%
TTM-44.6%YOY483.3%-527.9%
TTM-44.6%5Y89.7%-134.3%
5Y89.7%10Y71.4%+18.3%
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ-32.0%15.5%-47.5%
TTM-44.6%12.2%-56.8%
YOY483.3%16.4%+466.9%
5Y89.7%8.3%+81.4%
10Y71.4%8.9%+62.5%
1.2.2. Operating Ratio

Measures how efficient Bitfarms is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Capital Markets industry mean).
  • An Operation Ratio of 1.32 means that the operating costs are $1.32 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Bitfarms Ltd:

  • The MRQ is 1.320. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.438. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.320TTM1.438-0.118
TTM1.438YOY-5.237+6.675
TTM1.4385Y-0.190+1.628
5Y-0.19010Y0.031-0.221
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ1.3201.068+0.252
TTM1.4381.000+0.438
YOY-5.2370.962-6.199
5Y-0.1900.922-1.112
10Y0.0310.879-0.848

1.3. Liquidity of Bitfarms Ltd.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Bitfarms is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Capital Markets industry mean).
  • A Current Ratio of 1.88 means the company has $1.88 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Bitfarms Ltd:

  • The MRQ is 1.880. The company is able to pay all its short-term debts. +1
  • The TTM is 2.081. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ1.880TTM2.081-0.202
TTM2.081YOY1.460+0.621
TTM2.0815Y2.126-0.044
5Y2.12610Y1.889+0.237
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ1.8802.116-0.236
TTM2.0811.674+0.407
YOY1.4601.871-0.411
5Y2.1262.053+0.073
10Y1.8892.044-0.155
1.3.2. Quick Ratio

Measures if Bitfarms is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Bitfarms to the Capital Markets industry mean.
  • A Quick Ratio of 2.23 means the company can pay off $2.23 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Bitfarms Ltd:

  • The MRQ is 2.230. The company is very able to pay all its short-term debts with the most liquid assets. +2
  • The TTM is 2.245. The company is very able to pay all its short-term debts with the most liquid assets. +2
Trends
Current periodCompared to+/- 
MRQ2.230TTM2.245-0.016
TTM2.245YOY1.100+1.145
TTM2.2455Y2.460-0.215
5Y2.46010Y2.118+0.342
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ2.2301.502+0.728
TTM2.2451.260+0.985
YOY1.1001.311-0.211
5Y2.4601.672+0.788
10Y2.1181.595+0.523

1.4. Solvency of Bitfarms Ltd.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Bitfarms assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Bitfarms to Capital Markets industry mean.
  • A Debt to Asset Ratio of 0.22 means that Bitfarms assets are financed with 22.2% credit (debt) and the remaining percentage (100% - 22.2%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Bitfarms Ltd:

  • The MRQ is 0.222. The company is very able to pay all its debts by selling its assets. +2
  • The TTM is 0.175. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.222TTM0.175+0.047
TTM0.175YOY0.282-0.108
TTM0.1755Y0.334-0.160
5Y0.33410Y0.313+0.022
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ0.2220.631-0.409
TTM0.1750.616-0.441
YOY0.2820.621-0.339
5Y0.3340.608-0.274
10Y0.3130.590-0.277
1.4.2. Debt to Equity Ratio

Measures if Bitfarms is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Bitfarms to the Capital Markets industry mean.
  • A Debt to Equity ratio of 28.5% means that company has $0.28 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Bitfarms Ltd:

  • The MRQ is 0.285. The company is very able to pay all its debts with equity. +2
  • The TTM is 0.213. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ0.285TTM0.213+0.071
TTM0.213YOY0.394-0.181
TTM0.2135Y0.656-0.443
5Y0.65610Y0.597+0.059
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
MRQ0.2851.638-1.353
TTM0.2131.549-1.336
YOY0.3941.573-1.179
5Y0.6561.517-0.861
10Y0.5971.664-1.067

2. Market Valuation of Bitfarms Ltd

2.1. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Bitfarms generates.

  • Above 15 is considered overpriced but always compare Bitfarms to the Capital Markets industry mean.
  • A PE ratio of -4.14 means the investor is paying $-4.14 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Bitfarms Ltd:

  • The EOD is -3.072. Based on the earnings, the company is expensive. -2
  • The MRQ is -4.139. Based on the earnings, the company is expensive. -2
  • The TTM is -4.276. Based on the earnings, the company is expensive. -2
Trends
Current periodCompared to+/- 
EOD-3.072MRQ-4.139+1.067
MRQ-4.139TTM-4.276+0.138
TTM-4.276YOY16.362-20.638
TTM-4.2765Y-2.295-1.981
5Y-2.29510Y-1.913-0.383
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
EOD-3.0727.718-10.790
MRQ-4.1397.035-11.174
TTM-4.2766.379-10.655
YOY16.3628.906+7.456
5Y-2.29510.214-12.509
10Y-1.91311.445-13.358
2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Bitfarms Ltd:

  • The EOD is -16.556. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The MRQ is -22.305. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The TTM is -12.133. Based on how much money comes from the company's main activities, the company is expensive. -2
Trends
Current periodCompared to+/- 
EOD-16.556MRQ-22.305+5.749
MRQ-22.305TTM-12.133-10.172
TTM-12.133YOY-1.332-10.801
TTM-12.1335Y241.146-253.279
5Y241.14610Y200.955+40.191
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
EOD-16.556-0.518-16.038
MRQ-22.305-0.456-21.849
TTM-12.133-0.185-11.948
YOY-1.3320.014-1.346
5Y241.146-0.489+241.635
10Y200.955-0.228+201.183
2. Book Value per Share
2.3. Price to Book Ratio

Measures if the stock price of Bitfarms is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Capital Markets industry mean).
  • A PB ratio of 3.32 means the investor is paying $3.32 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Bitfarms Ltd:

  • The EOD is 2.461. Based on the equity, the company is underpriced. +1
  • The MRQ is 3.316. Based on the equity, the company is fair priced.
  • The TTM is 1.887. Based on the equity, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD2.461MRQ3.316-0.855
MRQ3.316TTM1.887+1.429
TTM1.887YOY1.438+0.449
TTM1.8875Y5.326-3.439
5Y5.32610Y4.438+0.888
Compared to industry (Capital Markets)
PeriodCompanyIndustry (mean)+/- 
EOD2.4611.035+1.426
MRQ3.3160.973+2.343
TTM1.8870.953+0.934
YOY1.4381.160+0.278
5Y5.3261.296+4.030
10Y4.4381.460+2.978
2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Bitfarms Ltd.

3.1. Institutions holding Bitfarms Ltd

Institutions are holding 21.064% of the shares of Bitfarms Ltd.

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2023-12-31Amvescap Plc.3.28260.00761096878299935510.0242
2023-12-31Arrowstreet Capital Limited Partnership2.67280.0272893127889312780
2023-12-31Two Sigma Investments LLC1.56670.035523516550237652376.4262
2023-12-31Tidal Investments LLC.1.31790.298244038913998889.9872
2023-12-31Van Eck Associates Corporation1.25090.0221417987559950616.7443
2023-12-31State Street Corporation1.21760.00064068587-222626-5.188
2023-12-31Mirae Asset Global Investments (Korea) Co Ltd0.93550.0186312602267779927.6853
2023-12-31Millennium Management LLC0.75190.0032251243856527329.0306
2023-12-31Susquehanna International Group, LLP0.550.001183793750606937.9969
2023-09-30Citadel Advisors Llc0.52120.000417415651331752324.9658
2023-12-31Vident Advisory, LLC0.51530.1261172175330568121.5865
2023-12-31Geode Capital Management, LLC0.45130.0005150815336673632.1299
2023-12-31Two Sigma Advisers, LLC0.34820.00791163400883400315.5
2023-12-31BlackRock Inc0.30630.0001102334645118978.8576
2023-12-31ShariaPortfolio, Inc.0.21091.39427048567048560
2023-12-31Cetera Advisors LLC0.14550.0197486077-173567-26.3122
2023-12-31Bank of America Corp0.12510.00014180695639815.5937
2023-12-31Morgan Stanley - Brokerage Accounts0.11920.0001398172-1087472-73.1987
2023-12-31Baader Bank INC0.0830.05832773762773760
2023-12-31Charles Schwab Investment Management Inc0.07420.0002247843-3786-1.5046
Total 16.44612.021154954585+20592870+37.5%

3.2. Funds holding Bitfarms Ltd

DateNameTotal SharesTotal AssetsCurrent SharesChange%
2024-02-29Invesco CoinShares Global Blockchain ETF3.40624.942111381796-160308-1.3889
2024-02-29Amplify Transformational Data Shrg ETF2.26422.86847565981-674000-8.1796
2024-02-29SPDR® S&P Kensho New Economies Comps ETF1.22960.6144410869930060.0732
2024-02-29BIT Global Crypto Leaders I-I0.97428.76313255204-244399-6.9836
2024-02-29Global X Blockchain ETF0.94765.7696316628700
2024-02-29Bitwise Crypto Industry Innovators ETF0.86315.89082883989-35676-1.2219
2024-02-29VanEck Crypto&Blckchan Innovtr ETF A USD0.80785.81632699242-14618-0.5386
2024-02-29VanEck Digital Trfmt ETF0.57226.0843191211400
2024-02-29Valkyrie Bitcoin Miners ETF0.49674.74221659879-35565-2.0977
2023-07-10Invesco Global Blockchain Equity MF0.36071.61431205143-1632457-57.5295
2024-02-29iShares S&P/TSX Capped Info Tech ETF0.32740.6141109394700
2024-02-29iShares Blockchain Technology ETF USDCap0.31645.818105717700
2023-09-11FT FTP Skybridge Digital Innovation 6 CA0.15085.5419503811251965.2644
2023-09-11FT Skybridge Digital Innovation 6 CA0.15075.539503540251735.2623
2024-02-29HAN-GINS Tech Megatrend Equal Wgt ETFAcc0.1471.6236491365-11427-2.2727
2024-02-29iShares Blockchain and Tech ETF0.13455.811244942400
2024-01-31Mercer Global Small Cap Equity M-3£0.13160.126843958100
2024-02-29Schwab Crypto Thematic ETF0.0973.272332409900
2024-02-29First Trust SkyBdg Cry Idt & Dgt Eco ETF0.09282.0417310112156105.3005
2023-07-03FT Skybridge Digital Innovation 5 CA0.0914.9552304001-24366-7.4204
Total 13.561582.449345315391-2763831-6.1%

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Bitfarms Ltd compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share--0.0170.028-39%-0.125+826%0.041-58%0.037-53%
Book Value Per Share--0.8780.843+4%0.983-11%0.547+61%0.465+89%
Current Ratio--1.8802.081-10%1.460+29%2.126-12%1.8890%
Debt To Asset Ratio--0.2220.175+27%0.282-21%0.334-34%0.313-29%
Debt To Equity Ratio--0.2850.213+33%0.394-28%0.656-57%0.597-52%
Dividend Per Share----0%-0%-0%-0%
Eps---0.176-0.095-46%-0.179+2%-0.053-70%-0.047-73%
Free Cash Flow Per Share---0.033-0.036+10%-0.119+264%-0.068+108%-0.057+75%
Free Cash Flow To Equity Per Share--0.1100.031+259%-0.101+192%0.007+1367%0.006+1792%
Gross Profit Margin--1.0021.012-1%1.000+0%1.0030%1.0050%
Intrinsic Value_10Y_max---6.039--------
Intrinsic Value_10Y_min---5.171--------
Intrinsic Value_1Y_max---0.461--------
Intrinsic Value_1Y_min---0.453--------
Intrinsic Value_3Y_max---1.495--------
Intrinsic Value_3Y_min---1.425--------
Intrinsic Value_5Y_max---2.662--------
Intrinsic Value_5Y_min---2.461--------
Market Cap721770462.720-35%972385230.000536315557.980+81%531303257.280+83%582411958.570+67%485343298.809+100%
Net Profit Margin---1.236-0.640-48%5.677-122%0.930-233%0.631-296%
Operating Margin---0.320-0.446+39%4.833-107%0.897-136%0.714-145%
Operating Ratio--1.3201.438-8%-5.237+497%-0.190+114%0.031+4152%
Pb Ratio2.461-35%3.3161.887+76%1.438+131%5.326-38%4.438-25%
Pe Ratio-3.072+26%-4.139-4.276+3%16.362-125%-2.295-45%-1.913-54%
Price Per Share2.160-35%2.9101.605+81%1.590+83%1.743+67%1.452+100%
Price To Free Cash Flow Ratio-16.556+26%-22.305-12.133-46%-1.332-94%241.146-109%200.955-111%
Price To Total Gains Ratio125.440-35%168.9961497.768-89%1.542+10860%330.404-49%330.404-49%
Quick Ratio--2.2302.245-1%1.100+103%2.460-9%2.118+5%
Return On Assets---0.156-0.074-53%-0.142-9%-0.059-62%-0.093-40%
Return On Equity---0.200-0.091-54%-0.200+0%-0.101-49%-0.150-25%
Total Gains Per Share--0.0170.028-39%-0.125+826%0.041-58%0.037-53%
Usd Book Value--293253909.000281539727.250+4%328387500.000-11%182661845.450+61%155317121.208+89%
Usd Book Value Change Per Share--0.0170.028-39%-0.125+826%0.041-58%0.037-53%
Usd Book Value Per Share--0.8780.843+4%0.983-11%0.547+61%0.465+89%
Usd Dividend Per Share----0%-0%-0%-0%
Usd Eps---0.176-0.095-46%-0.179+2%-0.053-70%-0.047-73%
Usd Free Cash Flow---10898828.000-11994957.000+10%-39682000.000+264%-22649441.400+108%-19058159.500+75%
Usd Free Cash Flow Per Share---0.033-0.036+10%-0.119+264%-0.068+108%-0.057+75%
Usd Free Cash Flow To Equity Per Share--0.1100.031+259%-0.101+192%0.007+1367%0.006+1792%
Usd Market Cap721770462.720-35%972385230.000536315557.980+81%531303257.280+83%582411958.570+67%485343298.809+100%
Usd Price Per Share2.160-35%2.9101.605+81%1.590+83%1.743+67%1.452+100%
Usd Profit---58738785.000-26203696.250-55%-59762500.000+2%-16756189.250-71%-14704272.292-75%
Usd Revenue--47519028.00037057757.000+28%-2095500.000+104%18813101.400+153%16784386.583+183%
Usd Total Gains Per Share--0.0170.028-39%-0.125+826%0.041-58%0.037-53%
 EOD+2 -6MRQTTM+15 -19YOY+25 -95Y+17 -1710Y+18 -16

4.2. Fundamental Score

Let's check the fundamental score of Bitfarms Ltd based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-15-3.072
Price to Book Ratio (EOD)Between0-12.461
Net Profit Margin (MRQ)Greater than0-1.236
Operating Margin (MRQ)Greater than0-0.320
Quick Ratio (MRQ)Greater than12.230
Current Ratio (MRQ)Greater than11.880
Debt to Asset Ratio (MRQ)Less than10.222
Debt to Equity Ratio (MRQ)Less than10.285
Return on Equity (MRQ)Greater than0.15-0.200
Return on Assets (MRQ)Greater than0.05-0.156
Total4/10 (40.0%)

4.3. Technical Score

Let's check the technical score of Bitfarms Ltd based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5039.498
Ma 20Greater thanMa 502.429
Ma 50Greater thanMa 1002.576
Ma 100Greater thanMa 2002.333
OpenGreater thanClose2.220
Total3/5 (60.0%)



Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2022-12-312023-03-312023-06-302023-09-302023-12-31
Gross Profit  -40,65127,728-12,9236,883-6,040-2,826-8,86610,6721,806



Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary
Total Assets376,787
Total Liabilities83,533
Total Stockholder Equity293,254
 As reported
Total Liabilities 83,533
Total Stockholder Equity+ 293,254
Total Assets = 376,787

Assets

Total Assets376,787
Total Current Assets129,319
Long-term Assets247,468
Total Current Assets
Cash And Cash Equivalents 83,608
Short-term Investments 33,797
Net Receivables 2,197
Inventory 701
Other Current Assets 9,016
Total Current Assets  (as reported)129,319
Total Current Assets  (calculated)129,319
+/-0
Long-term Assets
Property Plant Equipment 199,302
Intangible Assets 3,700
Long-term Assets Other 44,466
Long-term Assets  (as reported)247,468
Long-term Assets  (calculated)247,468
+/-0

Liabilities & Shareholders' Equity

Total Current Liabilities68,800
Long-term Liabilities14,733
Total Stockholder Equity293,254
Total Current Liabilities
Short-term Debt 6,844
Short Long Term Debt 4,022
Accounts payable 9,031
Other Current Liabilities 51,822
Total Current Liabilities  (as reported)68,800
Total Current Liabilities  (calculated)71,718
+/- 2,918
Long-term Liabilities
Capital Lease Obligations 15,850
Long-term Liabilities  (as reported)14,733
Long-term Liabilities  (calculated)15,850
+/- 1,117
Total Stockholder Equity
Common Stock527,411
Retained Earnings -293,415
Accumulated Other Comprehensive Income 2,926
Other Stockholders Equity 56,332
Total Stockholder Equity (as reported)293,254
Total Stockholder Equity (calculated)293,254
+/-0
Other
Capital Stock530,123
Cash and Short Term Investments 117,405
Common Stock Shares Outstanding 334,153
Current Deferred Revenue1,104
Liabilities and Stockholders Equity 376,787
Net Debt -63,838
Net Invested Capital 298,784
Net Working Capital 60,830
Property Plant and Equipment Gross 466,661
Short Long Term Debt Total 19,770



Balance Sheet

Currency in USD. All numbers in thousands.

 Trend2023-12-312023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-31
> Total Assets 
8,637
8,637
8,637
8,637
6,558
52,657
6,558
26,233
13,214
44,860
51,490
52,856
50,647
47,654
45,926
51,704
163,995
231,224
322,430
542,587
639,121
473,135
376,960
343,098
331,982
325,637
332,797
376,787
376,787332,797325,637331,982343,098376,960473,135639,121542,587322,430231,224163,99551,70445,92647,65450,64752,85651,49044,86013,21426,2336,55852,6576,5588,6378,6378,6378,637
   > Total Current Assets 
2,121
2,121
2,121
2,121
824
4,974
824
3,295
1,638
7,423
4,709
6,550
6,066
4,764
4,467
9,168
90,168
85,776
152,548
287,127
323,764
124,675
102,811
69,088
73,913
72,058
83,733
129,319
129,31983,73372,05873,91369,088102,811124,675323,764287,127152,54885,77690,1689,1684,4674,7646,0666,5504,7097,4231,6383,2958244,9748242,1212,1212,1212,121
       Cash And Cash Equivalents 
1,130
1,130
1,130
1,130
138
599
138
552
540
5,354
2,463
2,159
2,332
1,361
1,324
5,947
53,033
36,216
43,267
125,273
77,294
45,982
35,814
30,809
29,378
30,891
46,775
83,608
83,60846,77530,89129,37830,80935,81445,98277,294125,27343,26736,21653,0335,9471,3241,3612,3322,1592,4635,3545405521385991381,1301,1301,1301,130
       Short-term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
32,428
45,329
101,245
66,031
99,258
10,801
6,615
4,635
10,257
14,597
16,809
33,797
33,79716,80914,59710,2574,6356,61510,80199,25866,031101,24545,32932,4280000000000000000
       Net Receivables 
130
130
130
130
314
2,756
314
1,257
923
1,709
1,848
3,691
3,143
3,060
1,433
1,400
2,925
2,680
3,140
3,715
1,376
11,733
15,926
16,767
16,269
19,367
11,853
2,197
2,19711,85319,36716,26916,76715,92611,7331,3763,7153,1402,6802,9251,4001,4333,0603,1433,6911,8481,7099231,2573142,756314130130130130
       Inventory 
108
108
108
108
31
1,619
31
124
34
285
173
135
264
143
210
169
327
322
499
548
630
607
586
588
593
663
730
701
70173066359358858660763054849932232716921014326413517328534124311,61931108108108108
       Other Current Assets 
754
754
754
754
341
0
341
1,362
141
75
225
565
327
200
892
1,652
32,428
1,229
4,397
91,560
145,206
55,552
43,870
16,289
17,416
6,540
7,566
9,016
9,0167,5666,54017,41616,28943,87055,552145,20691,5604,3971,22932,4281,652892200327565225751411,3623410341754754754754
   > Long-term Assets 
6,516
6,516
6,516
6,516
5,735
47,683
5,735
22,938
11,577
37,437
46,781
46,306
44,581
42,890
41,459
42,536
73,827
145,448
169,882
255,460
315,357
348,460
274,149
274,010
258,069
253,579
249,064
247,468
247,468249,064253,579258,069274,010274,149348,460315,357255,460169,882145,44873,82742,53641,45942,89044,58146,30646,78137,43711,57722,9385,73547,6835,7356,5166,5166,5166,516
       Property Plant Equipment 
5,335
5,335
5,335
5,335
5,216
43,323
5,216
20,862
11,034
29,312
40,979
44,134
42,120
40,717
39,445
41,217
50,683
143,564
168,544
229,306
285,960
341,792
268,200
268,022
252,021
248,021
240,024
199,302
199,302240,024248,021252,021268,022268,200341,792285,960229,306168,544143,56450,68341,21739,44540,71742,12044,13440,97929,31211,03420,8625,21643,3235,2165,3355,3355,3355,335
       Goodwill 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
16,955
17,900
0
0
0
0
0
0
0
000000017,90016,9550000000000000000000
       Intangible Assets 
1,181
1,181
1,181
1,181
253
3,934
253
1,013
169
0
0
675
0
0
0
377
0
0
0
1,681
1,331
798
260
33
26
21
3,821
3,700
3,7003,8212126332607981,3311,681000377000675001691,0132533,9342531,1811,1811,1811,181
       Other Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
1,623
1,557
973
22,829
75,005
76,197
90,577
104,390
103,868
38,405
38,185
0
38,296
0
0
0038,296038,18538,405103,868104,39090,57776,19775,00522,8299731,5571,6230000000000000
> Total Liabilities 
1,661
1,661
1,661
1,661
1,395
9,261
1,395
5,581
6,192
25,963
24,252
24,768
23,773
24,256
26,591
36,257
22,092
30,296
40,614
120,005
179,364
137,950
113,919
87,531
59,322
52,892
45,297
83,533
83,53345,29752,89259,32287,531113,919137,950179,364120,00540,61430,29622,09236,25726,59124,25623,77324,76824,25225,9636,1925,5811,3959,2611,3951,6611,6611,6611,661
   > Total Current Liabilities 
1,434
1,434
1,434
1,434
1,164
7,184
1,164
4,656
1,002
7,115
4,077
4,009
7,185
15,190
15,398
28,477
10,319
21,300
27,675
101,178
142,830
96,418
82,057
67,244
43,500
37,413
29,686
68,800
68,80029,68637,41343,50067,24482,05796,418142,830101,17827,67521,30010,31928,47715,39815,1907,1854,0094,0777,1151,0024,6561,1647,1841,1641,4341,4341,4341,434
       Short-term Debt 
0
0
0
0
0
1,130
0
1,025
219
3,742
1,471
1,620
4,974
13,050
13,394
20,797
6,450
12,832
14,417
74,605
128,217
83,696
66,055
46,703
23,914
18,538
13,027
6,844
6,84413,02718,53823,91446,70366,05583,696128,21774,60514,41712,8326,45020,79713,39413,0504,9741,6201,4713,7422191,02501,13000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
4,275
12,309
11,814
17,171
46
9,194
10,433
70,259
123,796
79,906
62,129
43,054
21,026
15,556
9,913
4,022
4,0229,91315,55621,02643,05462,12979,906123,79670,25910,4339,1944617,17111,81412,3094,275000000000000
       Accounts payable 
1,114
1,114
1,114
1,114
674
3,148
674
2,695
572
2,619
2,221
2,287
2,211
2,140
2,004
2,059
3,124
4,174
6,367
9,873
10,294
6,639
8,997
12,897
11,921
10,302
7,621
9,031
9,0317,62110,30211,92112,8978,9976,63910,2949,8736,3674,1743,1242,0592,0042,1402,2112,2872,2212,6195722,6956743,1486741,1141,1141,1141,114
       Other Current Liabilities 
320
320
320
320
490
303
490
50
212
754
385
102
0
0
0
4,668
745
2,188
248
16,700
4,319
6,083
7,005
7,644
7,665
8,573
9,038
51,822
51,8229,0388,5737,6657,6447,0056,0834,31916,7002482,1887454,66800010238575421250490303490320320320320
   > Long-term Liabilities 
227
227
227
227
231
2,077
231
925
5,190
18,848
20,175
20,759
16,588
9,066
11,193
7,780
11,773
8,996
12,939
18,827
36,534
41,532
31,862
20,287
15,822
15,479
15,611
14,733
14,73315,61115,47915,82220,28731,86241,53236,53418,82712,9398,99611,7737,78011,1939,06616,58820,75920,17518,8485,1909252312,077231227227227227
       Other Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
187
202
209
2,310
329
6,233
8,690
11,768
1,593
1,778
1,979
0
2,284
0
0
002,28401,9791,7781,59311,7688,6906,2333292,3102092021870000000000000
> Total Stockholder Equity
6,976
6,976
6,976
6,976
5,163
29,766
5,163
15,443
7,022
15,636
27,238
28,088
26,874
23,398
19,335
15,447
141,903
200,928
281,816
422,582
459,757
335,185
263,041
255,567
272,660
272,745
287,500
293,254
293,254287,500272,745272,660255,567263,041335,185459,757422,582281,816200,928141,90315,44719,33523,39826,87428,08827,23815,6367,02215,4435,16329,7665,1636,9766,9766,9766,976
   Common Stock
29
29
29
29
41
162
41
162
8,486
162
162
33,944
35,154
30,867
30,921
32,004
156,451
202,725
256,515
378,893
405,409
414,853
423,546
429,120
444,960
467,281
499,678
527,411
527,411499,678467,281444,960429,120423,546414,853405,409378,893256,515202,725156,45132,00430,92130,86735,15433,9441621628,486162411624129292929
   Retained Earnings 
1,226
1,226
1,226
1,226
-2,189
5,568
-2,189
-8,755
-1,464
-10,879
-6,980
-5,856
-8,280
-12,010
-16,771
-22,145
-24,622
-33,425
-9,692
-15
4,504
-137,414
-222,222
-239,065
-241,544
-265,778
-284,161
-293,415
-293,415-284,161-265,778-241,544-239,065-222,222-137,4144,504-15-9,692-33,425-24,622-22,145-16,771-12,010-8,280-5,856-6,980-10,879-1,464-8,755-2,1895,568-2,1891,2261,2261,2261,226
   Accumulated Other Comprehensive Income 
-207
-207
-207
-207
-7,021
0
-7,021
0
-7,718
0
0
0
0
4,541
5,185
5,588
10,074
31,628
34,993
43,704
49,844
57,746
61,717
65,512
69,244
71,242
71,983
2,926
2,92671,98371,24269,24465,51261,71757,74649,84443,70434,99331,62810,0745,5885,1854,5410000-7,7180-7,0210-7,021-207-207-207-207
   Capital Surplus 0000000000000000000000000000
   Treasury Stock0000000000000000000000000000
   Other Stockholders Equity 
5,928
5,928
5,928
5,928
14,332
24,036
14,332
24,036
7,718
26,353
34,056
0
0
0
0
0
5,128
0
0
0
0
0
0
0
0
1,144
0
56,332
56,33201,144000000005,1280000034,05626,3537,71824,03614,33224,03614,3325,9285,9285,9285,928



Balance Sheet

Currency in USD. All numbers in thousands.




Cash Flow

Currency in USD. All numbers in thousands.




Income Statement

Currency in USD. All numbers in thousands.


Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue149,050
Cost of Revenue-170,947
Gross Profit-21,896-21,896
 
Operating Income (+$)
Gross Profit-21,896
Operating Expense-46,024
Operating Income-67,920-67,920
 
Operating Expense (+$)
Research Development0
Selling General Administrative38,801
Selling And Marketing Expenses491
Operating Expense46,02439,292
 
Net Interest Income (+$)
Interest Income1,420
Interest Expense-4,154
Other Finance Cost-10,663
Net Interest Income-13,397
 
Pretax Income (+$)
Operating Income-67,920
Net Interest Income-13,397
Other Non-Operating Income Expenses0
Income Before Tax (EBT)-106,352-29,488
EBIT - interestExpense = -72,074
-106,352
-101,790
Interest Expense4,154
Earnings Before Interest and Taxes (EBIT)-67,920-102,198
Earnings Before Interest and Taxes (EBITDA)18,420
 
After tax Income (+$)
Income Before Tax-106,352
Tax Provision--401
Net Income From Continuing Ops-104,036-105,951
Net Income-105,944
Net Income Applicable To Common Shares0
 
Non-recurring Events
Discontinued Operations0
Extraordinary Items0
Effect of Accounting Charges0
Other Items0
Non Recurring0
Other Operating Expenses216,970
Total Other Income/Expenses Net-38,43213,397
 

Technical Analysis of Bitfarms
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Bitfarms. The general trend of Bitfarms is BULLISH with 14.3% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Bitfarms's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitionsBullish trend (14.3%) Bearish trend (-14.3%)
Overbought to neutralBullish pullback=Bearish reversal
Upper to lower neutralBullish correction=Bearish continuation
Nuetral to oversoldOversold=Oversold
Oversold to neutralBullish reversal=Bearish correction
Lower to upper neutralBullish continuation=Bearish pullback
Nuetral to overboughtOverbought=Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.


Score

Let's take a look at the Support & Resistance of Bitfarms Ltd.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

  • Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 3.91.

The bearish price targets are: 2.11 > 2.11 > 2.1.

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Bitfarms Ltd Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

  • Moving averages are lagging trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Bitfarms Ltd. The current mas is .

The long score for the Moving Averages is 8/14.
The longshort score for the Moving Averages is 2/(-14 +14).

  • MA 20 trending down: The MA 20 is trending down. -1
  • Close < MA 20: The price is below the MA 20. -1
  • MA 20 < MA 50: The MA 20 is lower than the MA 50. -1
  • MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
  • MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
  • MA 50 trending down: The MA 50 is trending down. -1
  • Close < MA 50: The price is below the MA 50. -1
  • MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
  • MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
  • MA 100 trending up: The MA 100 is trending up. +1
  • Close < MA 100: The price is below the MA 100. -1
  • MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
  • MA 200 trending up: The MA 200 is trending up. +1
  • Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Bitfarms Ltd Daily Moving Averages Chart
2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

  • MACD is a lagging momentum indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Bitfarms Ltd. The current macd is -0.14988163.

The long score for the Moving Average Convergence/Divergence (MACD) is 0/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -4/(-4 +4).

  • MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Bitfarms price going down in the near term. -2
  • MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Bitfarms. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the Bitfarms price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
  • Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1
Bitfarms Ltd Daily Moving Average Convergence/Divergence (MACD) ChartBitfarms Ltd Daily Moving Average Convergence/Divergence (MACD) Chart
2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.


Score

Let's take a look at the Directional Movement Index (DMI) of Bitfarms Ltd. The current adx is 14.00.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -2/(-7 +7).

  • PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Bitfarms shares, leading to potential downward momentum in its price. -1
  • PLUS_ID < MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bearish trend could be forming. -1
Bitfarms Ltd Daily Directional Movement Index (DMI) Chart
2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • Shows the current trend.
  • Shows potential entry signals.
  • Shows  potential exit signals.
  • Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Bitfarms Ltd. The current sar is 2.56.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

  • Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1
Bitfarms Ltd Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

  • Leading momentum indicator, meaning the signals are instant.
  • Ranges between 0 and 100.
  • Above 70 is considered overbought.
  • Below 30 is considered oversold.
  • Above or below 50 can also be used to determine price trend or support and resistance.
  • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
  • Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Bitfarms Ltd. The current rsi is 39.50. The current phase is Correction in bull market.

The long score for the Relative Strength Index (RSI) is 0/13.
The longshort score for the Relative Strength Index (RSI) is -4/(-13 +13).

  • Correction in bull market: Moderate price decline, potential pause in the uptrend. Reassess the market, wait for signs of stabilization.
  • Trending down: The RSI is trending down. -1
Bitfarms Ltd Daily Relative Strength Index (RSI) ChartBitfarms Ltd Daily Relative Strength Index (RSI) Chart
3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

  • Leading momentum indicator, meaning the signals are instant.
  • Used to determine overbought and oversold areas much like the RSI.
  • Ranges between 0 and 100.
  • Above 80 is considered overbought.
  • Below 20 is considered oversold.
  • Consists of two lines named K and D.
  • K compares the highest high and lowest low on the selected price range.
  • The D line is a moving average of the K line.
  • Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Bitfarms Ltd. The current phase is Oversold in bull market.

The long score for the Stochastic Oscillator is 1/6.
The longshort score for the Stochastic Oscillator is -4/(-6 +6).

  • STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
  • STOCH < 20: The STOCH %K is below 20 and oversold. -2
  • STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Bitfarms price going down in the near term. -2
  • Trending up: The STOCH %K is trending up. +1
Bitfarms Ltd Daily Stochastic Oscillator ChartBitfarms Ltd Daily Stochastic Oscillator Chart
3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

  • Lagging or leading Momentum indicator
  • When the CCI is above zero, the price is above the historical average
  • When the CCI is below zero, the price is below the historical average
  • Used for spotting trends
    • If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
    • If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Bitfarms Ltd. The current cci is -106.8766504.

The long score for the Commodity Channel Index (CCI) is 0/1.
The longshort score for the Commodity Channel Index (CCI) is -1/(-1 +1).

  • CCI < -100: The CCI is below -100, it indicates that the price is significantly below its average, suggesting a potential oversold condition. -1
Bitfarms Ltd Daily Commodity Channel Index (CCI) ChartBitfarms Ltd Daily Commodity Channel Index (CCI) Chart
3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

  • Lagging momentum indicator
  • Ranges between +100 and -100
  • Considered overbought above +50
  • Considered oversold below -50
  • It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Bitfarms Ltd. The current cmo is -29.16873701.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

  • CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1
Bitfarms Ltd Daily Chande Momentum Oscillator (CMO) ChartBitfarms Ltd Daily Chande Momentum Oscillator (CMO) Chart
3.5 Williams %R

 Shows the current price relative to the highest high over the last 14 days.
 

  • Lagging momentum indicator
  • Ranging between 0 and -100
  • Above -20 is considered overbought
  • Below -80 is considered oversold
  • Is prone to give false signals

Score

Let's take a look at the Williams %R of Bitfarms Ltd. The current willr is -86.41975309.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is -1/(-1 +1).

  • WILLR < -80: The Williams %R is below -80. This indicates that the price is in oversold territory, suggesting a potential price correction or trend reversal to the upside. -1
Bitfarms Ltd Daily Williams %R ChartBitfarms Ltd Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

  • Lagging volatility indicator
  • Uses 3 bands: one upper, one lower and one in the middle
  • Works best when the middle band reflects an intermediate trend (MA20).
  • When the price is moving closer to the upper band, the market might be overbought
  • When the price is moving closer to the lower band, the market might be oversold 

Score

Let's take a look at the Bollinger Bands of Bitfarms Ltd.

Bitfarms Ltd Daily Bollinger Bands Chart
4.2 Average True Range (ATR)
Measures market volatility
  • Leading volatility indicator
  • Can be used to determine stop-loss positions
  • Calculated by:
    • Current high minus the current low
    • Current high minus the previous close
    • Current low minus the previous close
  • The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Bitfarms Ltd. The current atr is 0.2393719.

Bitfarms Ltd Daily Average True Range (ATR) ChartBitfarms Ltd Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

 Measures market volatility

  • Leading momentum indicator
  • Calculation:
    • If the closing price is above the previous closing price: OBV = previous OBV + current volume
    • If the closing price is below the previous closing price: OBV = previous OBV - current volume
    • If the closing price is the same as the previous closing price than the OBV is the same.
  • Can be used to confirm price trends
  • Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Bitfarms Ltd. The current obv is 60,589,246.

Bitfarms Ltd Daily On-Balance Volume (OBV) ChartBitfarms Ltd Daily On-Balance Volume (OBV) Chart
5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

  • Lagging momentum indicator
  • Looks like RSI but uses volume as an extra metric (RSI only considers price)
  • Above 80 is considered overbought
  • Below 20 is considered oversold
  • Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Bitfarms Ltd. The current mfi is 34.39.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

  • MFI < 50: -1
Bitfarms Ltd Daily Money Flow Index (MFI) ChartBitfarms Ltd Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

TypeNotificationDate
PenkeCurrently no notifications for Bitfarms Ltd.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

DateIndicatorSignal
2023-11-06STOCH LONG EXITThe %K line crosses below the %D line.
2023-11-07STOCH SHORT EXITThe %K line crosses above the %D line.
2023-11-08STOCH LONG EXITThe %K line crosses below the %D line.
2023-11-09STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2023-11-13STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2023-11-14SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2023-11-15SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-11-16STOCH LONG EXITThe %K line crosses below the %D line.
2023-11-21MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2023-11-22CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2023-11-24CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2023-11-28MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-11-29ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-11-30STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-01STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-04STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-05STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-06MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2023-12-07ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-08ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-11STOCH LONG EXITThe %K line crosses below the %D line.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2023-12-12STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-13BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-14STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-19MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2023-12-20RSI SHORT ENTRY LONG CLOSE70 crossover to downside
2023-12-21STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2023-12-27CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2023-12-28STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-29SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
RSI SHORT ENTRY LONG CLOSE70 crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-01-02MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
2024-01-04STOCH SHORT EXITThe %K line crosses above the %D line.
2024-01-05STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-01-08STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-01-11SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-01-12SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
2024-01-16STOCH SHORT EXITThe %K line crosses above the %D line.
2024-01-17STOCH LONG EXITThe %K line crosses below the %D line.
2024-01-18DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
2024-01-19STOCH SHORT EXITThe %K line crosses above the %D line.
2024-01-23STOCH LONG EXITThe %K line crosses below the %D line.
2024-01-25STOCH SHORT EXITThe %K line crosses above the %D line.
2024-01-26DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-01-29CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-01-30STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-02-01STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-05STOCH LONG EXITThe %K line crosses below the %D line.
2024-02-06STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-08MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-02-09BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
2024-02-12STOCH LONG EXITThe %K line crosses below the %D line.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-02-14STOCH SHORT EXITThe %K line crosses above the %D line.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-02-15STOCH LONG EXITThe %K line crosses below the %D line.
2024-02-16STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-20RSI SHORT ENTRY LONG CLOSE70 crossover to downside
STOCH LONG EXITThe %K line crosses below the %D line.
2024-02-21ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-02-26STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-02-27CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2024-02-28STOCH LONG EXITThe %K line crosses below the %D line.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-02-29MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-03-01WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-03-05DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-03-06STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-07STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2024-03-08DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-11STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2024-03-12DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-03-13STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-14STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-15STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-21DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2024-03-22DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-26WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-03-27SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside

6.3. Candlestick Patterns

Bitfarms Ltd Daily Candlestick Chart
DateCandlestick Pattern

6.4. Technical Score

Let's check the technical score of Bitfarms Ltd based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5039.498
Ma 20Greater thanMa 502.429
Ma 50Greater thanMa 1002.576
Ma 100Greater thanMa 2002.333
OpenGreater thanClose2.220
Total3/5 (60.0%)
Penke

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