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7. Bitfarms Ltd. (NASDAQ:BITF)

Number of Hedge Fund Holders: 14

Bitfarms Ltd. (NASDAQ:BITF) is a crypto mining company and is now also focusing on AI and high-performance computing (HPC) strategies.

On January 31, Bitfarms announced that it has partnered with Appleby Strategy Group and World Wide Technology to conduct a feasibility study on its North American sites and develop a global HPC/AI strategy. The consultants will evaluate Bitfarms’ 1.2 GW North American portfolio for HPC and AI applications. They will also assist in developing sales strategies and marketing the sites to potential customers. Bitfarms believes its North American sites, especially those on the PJM grid, are well-suited for HPC/AI, offering long-term cash flow opportunities while continuing to benefit from Bitcoin mining’s upside potential.