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Bitfarms Secures C$60 Million in Funding to Bolster OperationsBitfarms secures C$60M investment from U.S. investors, fueling cryptocurrency mining expansion and growth. Bitfarms, a Canadian Bitcoin mining company, has secured a substantial investment of C$60 million. This influx of capital comes from U.S. institutional investors, marking a significant boost for the company’s operations. The funds are earmarked for strategic enhancements, including acquiring additional cryptocurrency miners, expanding infrastructure, and strengthening the company’s working capital. In a strategic move, Bitfarms will issue 44,444,446 common shares, each priced at C$1.35. This issuance also includes warrants for purchasing up to 22,222,223 common shares. Investors can exercise these warrants at C$1.61 (US$1.17) per share over the next three years. This decision is a calculated step towards capitalizing on the company’s current market position and is expected to be concluded by this upcoming Tuesday. Cryptocurrency Resurgence and Bitfarms’ Trajectory This financial milestone aligns with a notable resurgence in the cryptocurrency space. Recent events, such as the arrest and subsequent guilty verdict of Sam Bankman-Fried, the former head of FTX, for misappropriating billions in customer funds, have significantly impacted the market. Despite some delays, the growing anticipation surrounding the U.S. Securities and Exchange Commission’s (SEC) approval of the country’s first spot Bitcoin ETF signals a wave of potentially massive new investments in the sector. The U.S. government’s US$4 billion settlement with the Binance cryptocurrency exchange has also made headlines in another significant development. The exchange’s founder, Changpeng “CZ” Zhao, stepped down as CEO following his guilty plea to charges of anti-money laundering and sanctions violations. Collectively, these events have contributed to fostering greater trust in the crypto space, propelling significant gains in cryptocurrencies like Bitcoin and Ethereum and attracting a diverse range of investors. Bitfarms’ Growth and Market Performance Founded in 2017, Bitfarms has established itself as a global leader in Bitcoin mining. The company prides itself on vertically integrated mining farms and proprietary data analytics systems. With eleven operational farms spread across Canada, the United States, Paraguay, and Argentina, Bitfarms continues expanding its cryptocurrency mining footprint. Bitfarms’ stock (NDAQ, TSX: BITF) recently traded at C$1.58 per share, reflecting an 83.72 percent year-over-year increase. Though trailing Bitcoin’s 133.28 percent return, this performance significantly outpaces the S&P/TSX Composite Index’s -1.12 percent return over the same period.
NASDAQ:BITFLong
by DEXWireNews
Crypto Gold Rush: Unveiling BlockQuarry's Explosive PotentialAlright, folks, we're diving into the BlockQuarry (BLQC) charts, and it's turning into quite the thriller. Picture this: every time our modified Golden Ratio indicator winked with a Golden Cross, it's been like setting off fireworks. First stop, December 2020 – a rocket launch. In 72 days, we witnessed a jaw-dropping 2329% gain. Then, cue July 2021, and déjà vu hit with a 779% gain in 77 days. Fast forward to January 2023, another Golden Cross, another quick 129% gain in just 21 days. Now, here we stand, on the brink of Golden Cross number four. But here's the kicker – every time this happened, we saw the price bust out from a bullish flag. It's like the market whispering, "Hold onto your hats, we're gearing up for something big." And here's the plot twist – zooming out, we've got this falling wedge pattern. It's like a coiled spring ready to explode. The price is teasing us, right under the resistance from the upper line of the wedge, signaling a potential breakout any moment. Now, let's throw Bitcoin into the mix. The whole crypto scene is heating up, and these miners, like BlockQuarry, could be the wild cards in this high-stakes game. Bitcoin's rise could be the wind beneath their wings, turning this into a high-risk, high-reward play. And if that's not exciting enough, over the last two weeks, more folks are jumping in to buy, and there's a distinct lack of sellers. It's like the crowd is getting fired up, sensing the potential for big moves. But, and it's a big but, let's not forget this is high-risk territory. It's the kind of play where fortunes can be made or lost. Keeping a keen eye on volume, anticipating that breakout from the falling wedge, and staying tuned to any Bitcoin tremors or company updates is the name of the game. It's a bit like being in the front row of a rock concert, and BlockQuarry is the headliner. Fasten your seatbelts, because this could be one wild ride in the high-risk, high-reward world of crypto mining stocks. Happy trading, adrenaline junkies!
OTC:BLQCLong
by Sniper29x
2
Cipher BTC mining - Major upside potentialCIPHER MINING (CIFR) $CIPR - Inverse Head and Shoulders breakout & retest? - Above 200 day SMA with turn up - OBV increasing - On daily chart we are above the Point of Control which aligns which closely with purple horizontal - We could see a retest of this line so I would be DCA'ing from here in dribbles especially after a big move like this weeks 25% +, regardless I want exposure so ill dip my beak here. In terms of managing this trade the chart really shows you everything. This is a long term trade with a good risk return ratio. Align the trade with your own risk tolerance and remember to always be patient and keep an allocation aside in case of a lower price entry opportunity. Stop loss is outlined on the chart and should be honored. We can always re-enter the trade at a later date having reviewed the situation. Setting a stop under the 200 day SMA could be used as a trailing type of stop also. Fundamentals (for fun and stamping the stock into our mind): - CIPHER appears to be half the size of Marathon Digital Holdings (MARA) which is a well known industry large player - Cipher have 59,000 mining rigs deployed (MARA by comparison have 105,200 rigs) - Cipher mined 493 bitcoin in the month of May (MARA by comparison mined 825 in March 2023) - CIPHER announced record production during the month of May 2023. It appears things are just heating up. Fabulous Quote from the CEO from back in November 2022 which gives you an idea of the location and their unique offering “We are delighted to announce that our Odessa data center has begun bitcoin mining operations just 10 months after we broke ground at the site. The start of mining at Odessa represents a critical step in Cipher’s journey to become a market leader in the U.S. bitcoin mining industry. Since going public in 2021, we have built four data centers in Texas and are now one of the lowest cost producers of bitcoin,” said Tyler Page, CEO. “Because of our long-term, fixed price power contract at Odessa, we also have an advantage that few other bitcoin miners have -- the flexibility to mine bitcoin or resell our power to the market, which can help mitigate the effects of falling bitcoin prices.”
NASDAQ:CIFRLong
by PukaCharts
1
Bitfarms pullback before an attempt to go higher As BTC is pointing toward a pullback to the 21-20k area we can reasonably assume bitcoin mining stocks will also correct. NASDAQ:BITF is looking to go to the $.75-.60 support area before gearing up to go higher to $2, the next area of resistance. On the fundamental side the company is one of the stronger miners with one of the highest Bitcoin mined per 1 EH/s metric twitter.com . Just as long as there is no addition share dilution I expect Bitfarms (and other miners) to outperform Bitcoin in a bull market on the run ups.
NASDAQ:BITFLong
by MostlyGood
RIOT - 126-130$ top target for 2025In this analysis, we will delve into the significance of confluence in technical analysis, the implications of shareholder dilution, the role of Bitcoin mining, and the importance of the technical indicators used in our assessment of Riot Platforms, Inc (RIOT). Confluence in Technical Analysis Confluence is a crucial aspect of technical analysis, as it allows traders to identify critical price levels where multiple technical indicators align. This increases the probability of a successful trade, as it provides confirmation and reduces the likelihood of false signals. The confluence between the 1.382 Fibonacci speed resistance fan and the horizontal 1.618 Fibonacci extension level in RIOT's chart offers a compelling indication of a potential turning point. Shareholder Dilution Shareholder dilution occurs when a company issues additional shares, which results in a decrease in the ownership percentage of existing shareholders. This can negatively impact the stock's value and investor sentiment. Therefore, avoiding shareholder dilution is essential to maintain shareholder confidence and support the stock's price appreciation. Bitcoin Mining As a company primarily engaged in Bitcoin mining, RIOT's performance is closely linked to the cryptocurrency market. Continued growth in Bitcoin mining will likely support RIOT's revenue and contribute to its stock performance, especially during periods of heightened crypto market activity. Conversely, regulatory setbacks or a decline in mining activity could negatively impact RIOT's stock price. Technical Indicators Our analysis employs the convergence of the 1.382 Fibonacci speed resistance fan and the horizontal 1.618 Fibonacci extension level to determine potential price targets. These indicators have proven to be reliable in identifying key support and resistance levels in the past. By extrapolating the data from these indicators, we can project a potential price target of $126-$130 for RIOT. Conclusion In light of the confluence observed in RIOT's chart and the importance of avoiding shareholder dilution and sustaining Bitcoin mining operations, we recommend considering a long position in RIOT around November/December of this year. This strategy aims to capitalize on the anticipated cryptocurrency market euphoria and achieve a price target of $126-$130. However, it is crucial to monitor the company's performance and the regulatory landscape, as these factors may impact the stock's trajectory.
NASDAQ:RIOTLong
by TheTraderAndy
1
November 11 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart With the outbreak of the FTX liquidity collapse event, major cryptocurrencies are facing the crisis of Lehman storm. Cryptocurrencies extended their sharp decline yesterday. But as Asian markets opened, Bitcoin climbed back above $16,000. The release of better-than-expected inflation data at the same time caused a sharp rebound in Bitcoin to near $17,000. The continuation of this round of cryptocurrency rally still needs to be carefully observed. Today’s Cryptocurrency Headline Shell Plans to Launch a Liquid-Cooling Solution for Bitcoin Miners Next Year Shell, one of the world's largest oil and gas companies, will kick off its Bitcoin mining initiative at the 2023 conference in Miami, where the company will showcase its new liquid-cooling solution aimed at improving the bitcoin mining industry, according to Bitcoin Magazine. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
B
by BingX
NILE close to a double bottom on high volumeDuring March 2022, BitNile self-mined 31.7 Bitcoin. In total, BitNile has self-mined a total of 132.6 Bitcoin. BitNile Holdings has announced that two of its subsidiaries are combining to create a new Publicly Traded EV Charging and Power Solutions Company, TurnOnGreen. BitNile will Distribute 140 Million Shares and an Equal Number of Warrants to Purchase Shares of TurnOnGreen to BitNile Holdings’ Stockholders. Market Cap of only 58.711Mil. I think this stock has an upside potential of 300%. Looking forward to read your opinion about it.
NLong
by TopgOptions
3
$140 Million In Bitcoin Liquidated, Are We Yet For Another Run?Weekly Time-frame We hit our major supply area $48,000. We can see Retracement from this. All stocks are now in correction including Russel 2000. We broke out from the cloud but got a rejection and now back inside the cloud. 1D Time-frame Greed and Fear index is now at #56 still in greed. We might have some Retracement coming. 1D Awesome Oscillator is still bullish, and we got a long wick when we hit the supply zone. RSI almost Overbought. VPVR is now in high volume node which is hard to break. 4H Time-frame We hit the top $48,000 now we are about to start correcting. We are overbought in Relative Strength Index RSI. Awesome Oscillator is now bearish. but still higher high. We have found support in Fibonacci line at 0.382 and started bouncing. We are about to make lower high. We will discuss more on the possibility on our Live. Stay tune and check with us! Want more insights before US market open? Hit Like, Share, and Subscribe for more daily trading tutorial & cryptocurrency news Trade Scholar, the best cryptocurrency educational community online! Find the content above difficult to understand? Feeling lost about how to trade? Want to learn how to do your Own Price Prediction? We endeavour to share you our investment knowledge & experience in order to help you starting your path to financial freedom. Follow, Subscribe & Join our Community to trade together! Disclaimer: Above Technical Analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
Long
by Trade_Scholar
ANY bounce from the strong support ??ANY Sphere 3D wants to rival MARA and RIOT in 2022. Peter Tassiopoulos, CEO of Sphere 3D: "We have successfully pivoted to the cryptocurrency mining industry with the purchase of our first 60,000 miners, capable of producing 6 exahash of capacity. we have secured an agreement with Gryphon Digital Mining to have Core Scientific host and manage about 230 megawatts of bitcoin mining capacity, which covers over 71,000 bitcoin mining machines." This strong support area seems like a great buying opportunity! My short term price target is the 6.2usd resistance.
NASDAQ:ANYLong
by TopgOptions
4
ANY Sphere 3D Hashrate computing power !!Sphere 3D Corp. (ANY) deal for rights to bitcoin mining agreements of 60,000 new bitcoin mining machines for a total of 5.7 Exahash of computing power. Marathon is on-track to deploying 103,120 miners which will provide a combined output of 10.37 ExaHash, resulting in an estimated 50-60 BTC per day. MARA Market Cap 5.036Bil vs ANY Market Cap 254Mil MARA 10.37 ExaHash vs ANY 5.7 Exahash Based on the fundamentals above, see 10X upside potential for ANY from here! My price target is 7usd by the end of the year and 12usd by the end of february.
NASDAQ:ANYLong
by TopgOptions
ANY Sphere 3D Corp. Most undervalued Bitcoin MinerSphere 3D Corp. (ANY) deal for rights to bitcoin mining agreements of 60,000 new bitcoin mining machines for a total of 5.7 Exahash of computing power. Marathon is on-track to deploying 103,120 miners which will provide a combined output of 10.37 ExaHash, resulting in an estimated 50-60 BTC per day. MARA mk cap is 4.34Bil vs ANY Market Cap 464Mil. MARA 10.37 ExaHash vs ANY 5.7 Exahash I see a 400% upside potential for ANY from here!
NASDAQ:ANYLong
by TopgOptions