10 Best Get Rich Quick Stocks To Invest In

7. Bitfarms Ltd. (NASDAQ:BITF)

Current Share Price as of February 19: $1.40

Stock Beta Rating: 2.25

Number of Hedge Fund Holders: 14

Bitfarms Ltd. (NASDAQ:BITF) is a financial services company that operates server farms that validate transactions on the Bitcoin Blockchain. It also engages in the mining of cryptocurrency coins and tokens. The company’s hash rate increased by 97% year over year in December, reaching 12.8 EH/s. The increase allows the company to ramp up BTC mining operations to exploit rising prices.

Bitfarms Ltd. (NASDAQ:BITF) delivered impressive third-quarter results driven by higher Bitcoin prices. Revenue in the quarter was up 30% year over year to $4.9 million, driven by operational expansions and strategic investments. Nevertheless, its gross margins dropped by 6% due to rising electricity costs.

Bitfarms Ltd. (NASDAQ:BITF) is targeting operational efficiency through ASIC fleet upgrades. It plans to upgrade 18,853 Bitmain T21 miners with the latest S21 Pro models. These upgrades promise a 20% improvement in energy efficiency (15 w/TH) and higher hash rates (234 TH/s). The upgrades are expected to enable Bitfarms to achieve an 18 EH/s operating capacity by March 2025 and 21 EH/s by June 30, 2025.

Additionally, the company has acquired Stronghold Digital Mining as part of its expansion plan. Through the integration of power generation and energy trading capabilities, the acquisition should enhance the company’s U.S. presence and diversify its operations. The purchase should strengthen Bitfarms’ position as the industry leader in Bitcoin mining.