Dimensional Fund Advisors LP Purchases 2,940,978 Shares of Bitfarms Ltd. $BITF

Dimensional Fund Advisors LP grew its position in shares of Bitfarms Ltd. (NASDAQ:BITF) by 93.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,097,454 shares of the company’s stock after acquiring an additional 2,940,978 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Bitfarms were worth $11,885,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BITF. Pictet Asset Management Holding SA grew its position in Bitfarms by 206.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 224,917 shares of the company’s stock valued at $530,000 after purchasing an additional 151,544 shares in the last quarter. Situational Awareness LP bought a new stake in Bitfarms during the 4th quarter worth about $16,208,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Bitfarms during the 4th quarter worth about $341,000. Alight Capital Management LP lifted its position in Bitfarms by 100.0% during the 4th quarter. Alight Capital Management LP now owns 800,000 shares of the company’s stock worth $1,880,000 after buying an additional 400,000 shares in the last quarter. Finally, CastleKnight Management LP boosted its stake in shares of Bitfarms by 20.4% during the 4th quarter. CastleKnight Management LP now owns 8,293,169 shares of the company’s stock worth $19,489,000 after buying an additional 1,407,769 shares during the last quarter. 20.59% of the stock is currently owned by institutional investors and hedge funds.

Bitfarms Price Performance

Shares of NASDAQ BITF opened at $3.88 on Friday. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -16.87 and a beta of 3.77. The business has a 50-day moving average of $5.05 and a 200-day moving average of $3.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.20 and a quick ratio of 3.14. Bitfarms Ltd. has a fifty-two week low of $0.70 and a fifty-two week high of $6.60.

Bitfarms Profile

Bitfarms Ltd. is a publicly traded, vertically integrated Bitcoin mining company listed on the NASDAQ under the ticker BITF. The company engages in the large-scale operation of cryptocurrency mining farms, leveraging specialized computing hardware to validate and secure the Bitcoin blockchain. By converting electrical energy into computing power, Bitfarms plays a critical role in processing transactions on the Bitcoin network and earning mining rewards.

Bitfarms operates data centers in several jurisdictions with access to low-cost, primarily renewable energy sources.