10 Most Oversold Canadian Stocks to Buy According to Analysts

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1. Bitfarms Ltd. (NASDAQ:BITF)

6-Month Performance: -46.57%

Number of Hedge Fund Holders: 15

Analyst Upside Potential: 266.97%

Bitfarms Ltd. (NASDAQ:BITF) is an international, vertically integrated company specializing in Bitcoin mining. The company operates server farms with computers designed to validate transactions on the Bitcoin blockchain. These operations are conducted 24/7, producing computational power that is sold to mining pools under the Full Pay Per Share (FPPS) model.

In its February 2025 update, the company reported increasing its operational hash rate to 16.1 EH/s, marking a 6% month-over-month increase. The average operational hash rate also rose by 20% to 13.4 EH/s. Moreover, the company is on track to complete two significant transactions in Q1 2025 including the acquisition of Stronghold Digital Mining and the sale of the Yguazu site. These transactions are part of Bitfarms Ltd.’s (NASDAQ:BITF) strategy to transform into a North American-focused company with a strong presence in both Bitcoin mining and HPC/AI. It aims to leverage lower-cost energy and high-quality assets. It is the most oversold Canadian stock to buy according to analysts.

While we acknowledge the potential of Bitfarms Ltd. (NASDAQ:BITF) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BITF but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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