IA Trade Alert (Patreon)

NFA but I just doubled down on my BITF position - this has been a stinker despite solid scores on my Miner Model.  Well now with our new Stock Inflation model we know why.  THey did about 30% dilution over the last few months which has kept price suppressed.  

I bought BITF in after hours on Robinhood for $1.09.  It closed at $1.06 today but is up 3 cents in after hours to $1.09.  The reasons I bought are as follows:

1) it scored well in my models but market did not reflect

2) the hash expansion up to 17 eh could make them a top 3 player

3) I wanted to lower my avg cost down from around $1.75.  

I believe BITF could hit $4 to $4.60 at least in this bull run. 

• Bitfarms Ltd. has ordered 35,888 Bitmain T21 miners for a transformative fleet upgrade, aiming for a 17 EH/s hashrate by the second half of 2024.
• The company has provided guidance for Q2 2024, expecting 310 MW of power and 12 EH/s hashrate at 25 watts per terahash.
• There is an option secured for an additional 28,000 T21 miners, which could lead to achieving 17 EH/s in the latter half of 2024.
• A special conference call is scheduled for November 28, 2023, to discuss the upgrade plan.
• Bitfarms has enough liquidity from recent financing to fulfill the purchase obligations of this order.
• The miners are set to be delivered and installed from March to May 2024, enhancing the company's operational capacity from 240 MW to 391 MW and improving energy efficiency from 35 w/TH to 23 w/TH.
• The deployment plan includes additional facilities in Paso Pe and Yguazu, Paraguay, as well as in Baie-Comeau, Québec.
• The President and CEO of Bitfarms highlighted that this upgrade, with current attractive equipment pricing, is a strategic move to increase efficiency and lower production costs.
• The Chief Mining Officer of Bitfarms emphasized the energy efficiency and cost savings of the new miners, stating that they will significantly enhance the company's competitive position.

Bitfarms is still now only about 10% of my CLSK position.