10 Most Undervalued Bitcoin Mining Stocks to Buy Now

3. Bitfarms Ltd. (NASDAQ:BITF)

Analyst Upside: 260.36%

Number of Hedge Fund Holders: 15

Bitfarms Ltd. (NASDAQ:BITF) is a vertically integrated Bitcoin mining company based in Canada. It currently has 15 Bitcoin data centers operating in the US, Canada, Argentina, and Paraguay. The company operates server farms that comprise computers (Miners) specifically designed to validate transactions on the Bitcoin Blockchain. It operates Miners about 24 hours a day to produce computational power sold to Mining Pools under a formula-driven rate known as Full Pay Per Share (FPPS).

Bitfarms Ltd. (NASDAQ:BITF) ranks among the largest internationally diversified energy contracts portfolios in the Bitcoin data center business. It has managed to grow its portfolio organically, which lends it a competitive market edge. The company’s portfolio is also not susceptible to market risks because of its exposure to various energy sources and providers, climates, government authorities, and geographies.

On March 17, the company announced the successful completion of its previously announced acquisition of Stronghold Digital Mining, Inc. The acquisition could add up to 307 MW of power capacity and is expected to put Bitfarms Ltd. (NASDAQ:BITF) on track to increase its energy portfolio to over 950 MW by year-end 2025. The company intends to expand and rebalance its energy portfolio, with nearly 50% in the U.S. by the end of 2025.