{"id":44857,"date":"2021-06-23T16:08:24","date_gmt":"2021-06-23T13:08:24","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44857"},"modified":"2025-08-31T18:59:10","modified_gmt":"2025-08-31T15:59:10","slug":"bitfarms-shares-fall-7-on-first-day-of-nasdaq-trading","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitfarms-shares-fall-7-on-first-day-of-nasdaq-trading\/","title":{"rendered":"Bitfarms shares fall 7% on first day of Nasdaq trading"},"content":{"rendered":"<p>On June 21, Bitfarms began trading on the Nasdaq stock exchange. Against the backdrop<a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-below-34000-2\"> of Bitcoin&#8217;s 8% drop<\/a>, the stock price fell by 7.3%.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/NasdaqListed?src=hash&#038;ref_src=twsrc%5Etfw\">#NasdaqListed<\/a><\/p>\n<p>\ud83d\ude80 <a href=\"https:\/\/twitter.com\/search?q=%24BITF&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BITF<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BITF?src=hash&#038;ref_src=twsrc%5Etfw\">#BITF<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BitcoinMining?src=hash&#038;ref_src=twsrc%5Etfw\">#BitcoinMining<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Blockchain?src=hash&#038;ref_src=twsrc%5Etfw\">#Blockchain<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Nasdaq?src=hash&#038;ref_src=twsrc%5Etfw\">#Nasdaq<\/a> <a href=\"https:\/\/t.co\/fRLJK7jtMI\">pic.twitter.com\/fRLJK7jtMI<\/a><\/p>\n<p>\u2014 Bitfarms (@Bitfarms_io) <a href=\"https:\/\/twitter.com\/Bitfarms_io\/status\/1407314601608462338?ref_src=twsrc%5Etfw\">June 22, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The opening price on Nasdaq for BITF shares was $4.04. This was 4.5% below the previous day&#8217;s OTC close.<\/p>\n<p>Trading in a range of $3.90-$4.10 during the session, they finished at $3.96 (-7.3%).<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-back-above-34000-ethereum-above-2000\">Recovery in the cryptocurrency market<\/a> on June 22 allowed Bitfarms&#8217; shares to rise by 3.5%, to $4.10, and end above the initial Nasdaq price.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"381\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-484-1024x381.png\" alt=\"Bitfarms shares fell 7% on Nasdaq debut\" class=\"wp-image-140002\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-484-1024x381.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-484-300x112.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-484-768x286.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-484.png 1405w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/bitf\/advanced-charting\">Nasdaq<\/a>.<br \/><\/figcaption><\/figure>\n<\/div>\n<p>Bitfarms shares are also traded on the Toronto Stock Exchange.<\/p>\n<p>In a June 10 production report, the company highlighted the positive impact <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-hash-rate-plunges-amid-chinese-authorities-decisions\">of a campaign by Chinese authorities<\/a> against local miners. Bitfarms increased its hashrate share and earned higher transaction fees. With the same computing power and operating costs, the company was able to mine more coins.<\/p>\n<p>CEO Bitfarms Emiliano Grodsky in an interview <a href=\"https:\/\/decrypt.co\/74167\/bitfarms-why-canadian-bitcoin-miners-are-flocking-to-the-nasdaq\">Decrypt<\/a> noted that mining companies are &#8220;more reliable&#8221; than those who hold the first cryptocurrency on their balance sheet, regardless of market conditions.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Even if the price of Bitcoin falls to $16,000, we will still be earning huge money. Our cost of mining is $8,400,&#8221;<\/em> he said.<\/p>\n<\/blockquote>\n<p>Bitfarms uses more than 99% renewable hydroelectric energy for Bitcoin mining.<\/p>\n<p>Earlier, the vice president of Foundry <a href=\"https:\/\/u1f987.com\/en\/news\/foundry-vice-president-by-the-end-of-june-90-of-chinese-miners-will-have-shut-down-their-equipment\">predicted<\/a> that by the end of June 90% of Chinese miners would disconnect their equipment.<\/p>\n<p>In April, Bitfarms <a href=\"https:\/\/u1f987.com\/en\/news\/bitfarms-becomes-a-client-of-the-foundry-usa-mining-pool\">became a client<\/a> of the Foundry USA mining pool. Under the deal, the latter would help the mining company acquire 2,465 Whatsminer M30S devices for Bitcoin mining.<\/p>\n<p>Earlier, Bitfarms <a href=\"https:\/\/u1f987.com\/en\/news\/bitfarms-to-build-a-210-mw-bitcoin-mining-centre-in-argentina\">announced<\/a> the construction of a 210 MW cryptocurrency mining center in Argentina.<\/p>\n<p>Subscribe to the ForkLog channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 21, Bitfarms began trading on Nasdaq. Against Bitcoin&#8217;s 8% drop, the stock fell 7.3%.<\/p>\n","protected":false},"author":1,"featured_media":44858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1184,1137,768,1211],"class_list":["post-44857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitfarms","tag-cryptocurrency-mining","tag-nasdaq","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44857"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44857\/revisions"}],"predecessor-version":[{"id":44859,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44857\/revisions\/44859"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44858"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}