Bitfarms Initiates Stock Buyback Plan to Enhance Market Valuation

According to Odaily, Bitcoin mining company Bitfarms (BITF) has announced the commencement of a stock buyback program starting July 28. The company plans to repurchase up to 50 million shares over the next 12 months through the Nasdaq and Toronto Stock Exchange, representing approximately 10% of its outstanding shares. CEO Ben Gagnon stated that the company's valuation is underestimated, and the market has not fully recognized its potential in Bitcoin and high-performance computing (HPC). Bitfarms aims to leverage U.S. energy assets to expand its AI infrastructure.