{"id":22521,"date":"2023-05-16T23:24:08","date_gmt":"2023-05-16T23:24:08","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/05\/16\/bitfarms-stock-could-climb-to-2-0-hcw-analyst-kevin-dede\/"},"modified":"2023-05-16T23:24:08","modified_gmt":"2023-05-16T23:24:08","slug":"bitfarms-stock-could-climb-to-2-0-hcw-analyst-kevin-dede","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/05\/16\/bitfarms-stock-could-climb-to-2-0-hcw-analyst-kevin-dede\/","title":{"rendered":"Bitfarms stock could climb to $2.0: HCW analyst Kevin Dede"},"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\/05\/rsz_kanchanara-9pcv2mb65y8-unsplash_2-min-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/rsz_kanchanara-9pcv2mb65y8-unsplash_2-min-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/rsz_kanchanara-9pcv2mb65y8-unsplash_2-min-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/rsz_kanchanara-9pcv2mb65y8-unsplash_2-min-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2023\/05\/rsz_kanchanara-9pcv2mb65y8-unsplash_2-min.jpg\" alt=\"buy bitfarms stock on strong q1 earnings\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>HCW analyst says Bitfarms Ltd nonetheless has one other 40% upside.<\/li>\n<li>The bitcoin miner reported sturdy outcomes for its Q1 this week.<\/li>\n<li>Bitfarms stock is already up about 150% for the 12 months at writing.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/bitfarms.com\/\" target=\"_blank\" rel=\"noopener\">Bitfarms Ltd<\/a> is already up shut to 150% versus the beginning of the 12 months however an H.C. Wainwright analyst is satisfied that it\u2019s not out of juice simply but.<\/p>\n<h2>Bitfarms stock has one other 40% upside<\/h2>\n<p>On Tuesday, Kevin Dede reiterated his \u201cbuy\u201d score on the bitcoin miner with upside to $2.0 \u2013 up one other 40% from right here.<\/p>\n<p>His bullish name on Bitfarms stock arrives a day after the corporate stated its income famous an 11% sequential development within the first quarter. Dede acknowledged that mining prices had been up greater than 12% versus This autumn however wrote:<\/p>\n<blockquote>\n<p>Bitfarms nonetheless harnesses a few of the lowest value of energy amongst its friends by predominately drawing hydropower. Bitfarms prides itself on its renewable vitality sources.<\/p>\n<\/blockquote>\n<p>Its adjusted EBITDA greater than quintupled versus the earlier quarter to $6.3 million in Q1, as per the <a href=\"https:\/\/finance.yahoo.com\/news\/bitfarms-ltd-bitf-reports-q1-125512440.html\" target=\"_blank\" rel=\"noopener\">earnings press release<\/a>.<\/p>\n<h2>Bitfarms has a powerful steadiness sheet<\/h2>\n<p>Also a optimistic was \u201chash rate\u201d that elevated about 7.0% within the not too long ago concluded quarter to 4.8 EH\/s. More importantly, Bitfarms sees that climbing additional to 6.0 EH\/s by the tip of the third quarter.<\/p>\n<p>Strength of the steadiness sheet was amongst different notable the explanation why Dede stays constructive on Bitfarms stock. The Toronto-headquartered agency now has $19 million in debt solely versus $140 million about 10 months in the past.<\/p>\n<p>The HCW analyst now expects Bitfarms to generate $132.4 million in income this 12 months versus his earlier forecast for $119.9 million. In the <a href=\"https:\/\/hcwco.bluematrix.com\/sellside\/EmailDocViewer?encrypt=53b09851-6b9d-49e1-8de1-ec1efc074fbb&amp;mime=pdf&amp;co=Hcwco&amp;id=jayson.derrick@investoogroup.com&amp;source=mail\" target=\"_blank\" rel=\"noopener\">research note<\/a>, he additionally stated:<\/p>\n<blockquote>\n<p>Its 10 websites throughout 4 nations mitigate geographical dangers. In entrance of halving, BITF positions itself with strategic mixture of stability, liquidity, prudent monetary mgmt, and plans for development.<\/p>\n<\/blockquote>\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\/buy-bitfarms-stock-on-strong-q1-earnings\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] HCW analyst says Bitfarms Ltd nonetheless has one other 40% upside. The bitcoin miner reported sturdy outcomes for its Q1 this week. Bitfarms stock is already up about 150% for the 12 months at writing. Bitfarms Ltd is already up shut to 150% versus the beginning of the 12 months however an H.C. Wainwright [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22523,"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":[551,4021,239,6939,6881,5448,1388],"class_list":["post-22521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-analyst","tag-bitfarms","tag-climb","tag-dede","tag-hcw","tag-kevin","tag-stock","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\/22521","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=22521"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/22521\/revisions"}],"predecessor-version":[{"id":22522,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/22521\/revisions\/22522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/22523"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=22521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=22521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=22521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