11 Best Penny Stocks to Invest in Under $1

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5. Bitfarms Ltd. (NASDAQ:BITF)

Share Price as of April 10: $0.85

Number of Hedge Fund Holders: 15

Bitfarms Ltd. (NASDAQ:BITF) is an energy and compute infrastructure company that operates integrated Bitcoin data centers in Canada, the US, Paraguay, and Argentina. It owns and operates data centers housing computers to validate transactions on the Bitcoin blockchain. It also sells computational power used for hashing calculations for cryptocurrency mining in multiple jurisdictions.

It’s transitioning from a traditional Bitcoin mining company to a North American energy and compute company that has a focus on HPC and AI. This shift is driven by the company’s access to substantial energy resources and its focus on US-based operations. The company has also increased its energy capacity by more than 90% to 461 energized megawatts. It has a pipeline of over 1.4 gigawatts, with about 80% based in the US.

The Stronghold Digital Mining acquisition and the Yguazu site sale have transformed Bitfarms Ltd.’s (NASDAQ:BITF) portfolio. It reduced CapEx requirements and freed up capital for reinvestment in US infrastructure. The sale of Yguazu particularly reduced planned CapEx for 2025 to under $100 million, and the company has no plans for large miner purchases in 2025 or 2026.

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