BITF Glad I sold a few days ago sheeshCommunity discussions
BITF Glad I sold a few days ago sheesh
BITF thesis on why this stock is a long term hold for me based on quantitative and economic data:1. Bitfarm currently generates roughly $8 million in monthly free cash flow ( and that’s just with mining bitcoin and none of its other operations or future operations taken into account ex .( Panther Creek Campus )
2. Between bitcoin and cash reserves they have $230 million available and they also have
a extended credit line of $300 million from Marcquarie. So not only do they have free cash flow and steady monthly profits, they have the backing of a large financial institution.
3. A company like BITF is going to be needed to satisfy and meet the demand for power required by the data centers to power AI.
4. The buyback plan outlined by CFO Jeff lucas aimed for the buying-back of up to 49.9 million ( 10% which has already been done) shares and he also announced that capital needed to maintain their mining business would not exceed $10 million, meaning that the company is extremely self-sufficient. This said, it will make subsidizing and and obtaining capital much easier when they continue expanding thier operations on the Panther Creek Campus.
5. And the last and most obvious, billions is being poured into Ai and billions more is on the way .
Thank you for listening to my TED talk
BITF ahhh yeah we got earnings next week I’m in LEAPS so i won’t be selling for a while but im curious to see how it’s gonna go. Its holding the $4.00 price range pretty well and with short interest low, this bottoming out, and the consistent call flow coming in, I do believe there is support and sentiment for a move up. Like during the gold rush many people sought to get rich digging for gold, but few were aware of those getting filthy rich from selling the shovels. The same logic applies here, instead of buying a super volatile asset like bitcoin (that was ORIGINALLY meant to be decentralized and out of government control and monopolization ) and trying to get rich, let’s be the ones who invest in companies that provide the power to the data centers and hardware that mines bitcoin.
BITF Looks like we just touched the .786 level from this recent run and the .618 level from the first run.. However, knowing my luck, it'll probably bomb through straight down to 3 bucks.
BITF leg up incoming imo
BITF still channeling in this vwap pinch, just holding until there is a breakout in either direction.
BITF holding onto this lower vwap that has been in place since the initial move up. Showing solid strength today. If price can get above the upper vwap with conviction, we should see new highs.
BITF not investment advice but great opportunity to load up more on this whether you trading stock or options for the long termBITF Bought back too soon, total junk again probably going to zero now that I bought it back 😂 you better bet a few million long now redwingcoachBITF after that $4.18 gap gets filled I really don’t see any other reason for this to not move up. Heavy puts have also cleared out as well so we should be seeing upside soon.