{"id":21351,"date":"2023-04-28T20:06:45","date_gmt":"2023-04-28T20:06:45","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/04\/28\/bitfarms-stock-still-has-another-80-upside-from-here-analyst-says\/"},"modified":"2023-04-28T20:06:45","modified_gmt":"2023-04-28T20:06:45","slug":"bitfarms-stock-still-has-another-80-upside-from-here-analyst-says","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/04\/28\/bitfarms-stock-still-has-another-80-upside-from-here-analyst-says\/","title":{"rendered":"Bitfarms stock still has another 80% upside from here, analyst says"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/117152054_m_normal_none-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/117152054_m_normal_none-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/117152054_m_normal_none-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/117152054_m_normal_none-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2023\/03\/117152054_m_normal_none.jpg\" alt=\"bitfarms stock price forecast h.c. wainwright\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>H.C. Wainwright analyst sees upside in Bitfarms to $2.0 a share.<\/li>\n<li>He defined his constructive view in a analysis observe on Friday.<\/li>\n<li>Bitfarms stock has already almost tripled because the begin of 2023.<\/li>\n<\/ul>\n<p>Shares of Bitfarms Ltd have already almost tripled because the begin of the yr however an H.C. Wainwright analyst is satisfied that rally is way from over simply but.<\/p>\n<h2>Bitfarms stock may climb to $2.0<\/h2>\n<p>On Friday, Kevin Dede reiterated his \u201cbuy\u201d ranking on the bitcoin miner and mentioned its shares may climb to $2.0 \u2013 up another 80% from right here.<\/p>\n<p>The bullish name on Bitfarms stock arrives solely hours after the corporate expanded operations in <a href=\"https:\/\/decrypt.co\/138268\/bitcoin-miner-bitfarms-hits-new-hashrate-high-argentine-expansion\" target=\"_blank\" rel=\"noopener\">Argentina<\/a> that elevated its fleet hash to five EH\/s.<\/p>\n<p>Estimates Dede has for 2023 are based mostly on a hash price of about 5.7 EH\/s \u2013 a degree he\u2019s assured the miner will hit in its September quarter.<\/p>\n<blockquote>\n<p>This fleet growth additionally got here with out additional shareholder dilution \u2013 an added prize not universally shared throughout the spectrum of publicly traded bitcoin miners.<\/p>\n<\/blockquote>\n<h2>Bitfarms Ltd is producing money<\/h2>\n<p>The H.C. Wainwright analyst stays constructive on Bitfarms Ltd additionally as a result of it didn&#8217;t slip into damaging EBITDA even within the <a href=\"https:\/\/bitfarms.com\/media\/news\/detail\/182\/bitfarms-reports-fourth-quarter-and-full-year-2022-results\" target=\"_blank\" rel=\"noopener\">fourth quarter<\/a> when factor went haywire for the crypto area at giant.<\/p>\n<p>Other causes cited for the constructive view on Bitfarms stock embrace its gross mining margin that declined sharply (year-over-year) in 2022 however still stood at a wholesome 33% nonetheless. Dede mentioned in his <a href=\"https:\/\/hcwco.bluematrix.com\/sellside\/EmailDocViewer?encrypt=79331a69-55b5-4219-b70c-27c84b787bb9&amp;mime=pdf&amp;co=Hcwco&amp;id=jayson.derrick@investoogroup.com&amp;source=mail\" target=\"_blank\" rel=\"noopener\">research note<\/a>:<\/p>\n<blockquote>\n<p>We perceive potential upside in Argentina. With better monetary flexibility through stronger steadiness sheet, Bitfarms has choices to think about extra enterprise improvement alternatives.<\/p>\n<\/blockquote>\n<p>Expansion in Quebec, Paraguay, and Washington State will assist the share value as effectively, he concluded.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitfarms-stock-price-forecast-h-c-wainwright\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] H.C. Wainwright analyst sees upside in Bitfarms to $2.0 a share. He defined his constructive view in a analysis observe on Friday. Bitfarms stock has already almost tripled because the begin of 2023. Shares of Bitfarms Ltd have already almost tripled because the begin of the yr however an H.C. Wainwright analyst is satisfied [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21353,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[4],"tags":[551,4021,1388,1821],"class_list":["post-21351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-analyst","tag-bitfarms","tag-stock","tag-upside","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/21351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=21351"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/21351\/revisions"}],"predecessor-version":[{"id":21352,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/21351\/revisions\/21352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/21353"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=21351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=21351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=21351"}],"curies":[{"name":"wp","href":"https:\/\/a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