Bitfarms Launches Share Buyback Amid Pivot To AI and HPC Infrastructure
Bitfarms has announced a share buyback program, set to repurchase up to 49.9 million common shares, equivalent to 10% of its public float, over the next year. The Toronto Stock Exchange and Nasdaq have approved this program, with the buyback starting on July 28, 2025, and concluding on July 27, 2026. The company plans to buy shares at market price, potentially increasing the value of remaining shares as all repurchased shares will be canceled. CEO Ben Gagnon indicated confidence in the company's performance and noted its transition into high-performance computing (HPC) and AI infrastructure as a growth avenue. In its Q1 2025 financial report, Bitfarms showed significant improvements, reporting a $6 million net profit compared to a loss in Q1 2024, despite a decline in gross profit margins due to the effects of the Bitcoin halving. Bitfarms operates across multiple countries and is now focusing on expanding its HPC capabilities in the US to further adapt to market conditions.
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