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News  ›  The Motley Fool

Why Bitfarms Plunged More than 12% Following Earnings

The Motley Fool Logo The Motley Fool By Chris Macdonald
Why Bitfarms Plunged More than 12% Following Earnings

Bitfarms reported Q3 revenue of $69 million, a 156% year-over-year increase, but missed analyst expectations. The company's stock dropped over 12% due to continued concerns about mining margins and profitability, despite announcing a strategic pivot towards AI and cloud infrastructure projects.

Insights
BITF   negative

Missed analyst revenue and earnings expectations, continued profitability concerns, stock price dropped over 12%, uncertain strategic pivot to AI and cloud infrastructure