Bitfarms (BITF) Stock Forecast, Price Target & Predictions
BITF Stock Forecast
Bitfarms stock forecast is as follows: an average price target of $4.26 (represents a 108.82% upside from BITF’s last price of $2.04) and a rating consensus of 'Buy', based on 5 wall street analysts offering a 1-year stock forecast.
BITF Price Target
The average price target for Bitfarms (BITF) is $4.26 based on 1-year price targets from 5 Wall Street analysts in the past 3 months, with a price target range of $6.00 to $2.30. This represents a potential 108.82% upside from BITF's last price of $2.04.
BITF Analyst Ratings
According to 5 Wall Street analysts, Bitfarms's rating consensus is 'Buy'. The analyst rating breakdown for BITF stock is 0 'Strong Buy' (0.00%), 5 'Buy' (100.00%), 0 'Hold' (0.00%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Bitfarms Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Jun 10, 2024 | Brett Knoblauch | Cantor Fitzgerald | $5.00 | $2.30 | 117.39% | 145.10% |
| Jun 04, 2024 | Mike Colonnese | H.C. Wainwright | $4.00 | $2.33 | 71.67% | 96.08% |
| May 29, 2024 | Bill Papanastasiou | Stifel Nicolaus | $2.30 | $2.18 | 5.50% | 12.75% |
| May 21, 2024 | Joe Flynn | Compass Point | $6.00 | $1.89 | 217.46% | 194.12% |
| Apr 25, 2024 | Mike Grondahl | Northland Securities | $4.00 | $1.98 | 102.02% | 96.08% |
The latest Bitfarms stock forecast, released on Jun 10, 2024 by Brett Knoblauch from Cantor Fitzgerald, set a price target of $5.00, which represents a 117.39% increase from the stock price at the time of the forecast ($2.30), and a 145.10% increase from BITF last price ($2.04).
Bitfarms Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | - | 5 |
| Avg Price Target | - | - | $4.26 |
| Last Closing Price | $2.04 | $2.04 | $2.04 |
| Upside/Downside | -100.00% | -100.00% | 108.82% |
In the current month, the average price target of Bitfarms stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Bitfarms's last price of $2.04. This month's average price target is down NaN% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Jul 19, 2024 | H.C. Wainwright | Buy | Buy | Hold |
| Jun 17, 2024 | H.C. Wainwright | Buy | Buy | Hold |
| May 21, 2024 | Compass Point | Buy | Buy | Hold |
| May 17, 2024 | B. Riley | Buy | Buy | Hold |
| Apr 01, 2024 | ATB Capital | - | Outperform | Initialise |
| Nov 29, 2023 | Barclays | Buy | Buy | Hold |
Bitfarms's last stock rating was published by H.C. Wainwright on Jul 19, 2024. The company gave BITF a "Buy" rating, the same as its previous rate.
Bitfarms Financial Forecast
Bitfarms Revenue Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | $34.60M | $35.48M | $30.64M | $-1.53M | $-11.08M | $-36.06M | $40.30M | $59.46M | $44.60M | $36.73M | $28.41M | $11.39M |
| Avg Forecast | $161.15M | $139.00M | $120.93M | $108.15M | $78.48M | $52.79M | $44.62M | $50.95M | $43.08M | $34.24M | $34.60M | $29.60M | $25.60M | $37.60M | $48.30M | $39.60M | $62.60M | $46.60M | $22.70M | $24.00M | $9.40M |
| High Forecast | $201.59M | $173.88M | $151.28M | $135.29M | $98.18M | $61.95M | $55.81M | $63.74M | $46.53M | $42.84M | $43.28M | $37.03M | $32.02M | $47.04M | $56.56M | $46.37M | $73.31M | $54.57M | $26.58M | $28.11M | $11.01M |
| Low Forecast | $139.97M | $120.73M | $105.03M | $93.94M | $68.16M | $43.01M | $38.75M | $44.26M | $39.63M | $29.74M | $30.05M | $25.71M | $22.24M | $32.66M | $38.88M | $31.88M | $50.40M | $37.52M | $18.27M | $19.32M | $7.57M |
| # Analysts | 1 | 1 | 1 | 1 | 2 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | - | - | - | - | 2 | 2 | 2 | 2 | 1 |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.01% | 1.03% | 1.04% | -0.06% | -0.29% | -0.75% | 1.02% | 0.95% | 0.96% | 1.62% | 1.18% | 1.21% |
Bitfarms's average Quarter revenue forecast for Dec 23 based on 3 analysts is $43.08M, with a low forecast of $39.63M, and a high forecast of $46.53M. BITF's average Quarter revenue forecast represents a 24.52% increase compared to the company's last Quarter revenue of $34.60M (Sep 23).
Bitfarms EBITDA Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 2 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | - | - | - | - | 2 | 2 | 2 | 2 | 1 |
| EBITDA | - | - | - | - | - | - | - | - | - | $2.45M | $5.00M | $6.34M | $-38.66M | $5.77M | $-138.67M | $16.94M | $29.06M | $41.76M | $2.75M | $-27.35M | $-8.45M |
| Avg Forecast | $59.36M | $51.20M | $44.54M | $39.84M | $28.91M | $19.45M | $16.43M | $18.77M | $15.87M | $12.61M | $12.75M | $10.90M | $9.43M | $13.85M | $17.79M | $14.59M | $23.06M | $17.17M | $8.36M | $8.84M | $3.46M |
| High Forecast | $74.26M | $64.05M | $55.72M | $49.84M | $36.16M | $22.82M | $20.56M | $23.48M | $17.14M | $15.78M | $15.94M | $13.64M | $11.80M | $17.33M | $20.84M | $17.08M | $27.00M | $20.10M | $9.79M | $10.35M | $4.05M |
| Low Forecast | $51.56M | $44.47M | $38.69M | $34.60M | $25.11M | $15.84M | $14.27M | $16.30M | $14.60M | $10.96M | $11.07M | $9.47M | $8.19M | $12.03M | $14.32M | $11.74M | $18.56M | $13.82M | $6.73M | $7.12M | $2.79M |
| Surprise % | - | - | - | - | - | - | - | - | - | 0.19% | 0.39% | 0.58% | -4.10% | 0.42% | -7.79% | 1.16% | 1.26% | 2.43% | 0.33% | -3.09% | -2.44% |
3 analysts predict BITF's average Quarter EBITDA for Dec 23 to be $15.87M, with a high of $17.14M and a low of $14.60M. This is 548.49% upper than Bitfarms's previous annual EBITDA (Sep 23) of $2.45M.
Bitfarms Net Income Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 2 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | - | - | - | - | 2 | 2 | 2 | 2 | 1 |
| Net Income | - | - | - | - | - | - | - | - | - | $-18.70M | $-24.89M | $-2.48M | $-16.84M | $-84.81M | $-141.92M | $4.52M | $9.68M | $23.73M | $-3.67M | $-7.61M | $-5.37M |
| Avg Forecast | $15.25M | $7.22M | $-3.21M | $-8.83M | $-22.47M | $-35.31M | $-43.49M | $-7.22M | $-8.71M | $-21.40M | $-21.40M | $-10.03M | $-32.10M | $-8.02M | $20.06M | $16.05M | $52.16M | $80.25M | $24.07M | $32.10M | $-8.02M |
| High Forecast | $20.22M | $9.58M | $-2.66M | $-7.32M | $-18.63M | $-16.05M | $-36.06M | $-5.99M | $-8.28M | $-17.74M | $-17.74M | $-8.32M | $-26.61M | $-6.65M | $24.52M | $19.62M | $63.76M | $98.09M | $29.43M | $39.24M | $-5.99M |
| Low Forecast | $12.64M | $5.99M | $-4.26M | $-11.71M | $-29.80M | $-67.41M | $-57.67M | $-9.58M | $-9.15M | $-28.38M | $-28.38M | $-13.30M | $-42.57M | $-10.64M | $14.98M | $11.98M | $38.94M | $59.91M | $17.97M | $23.96M | $-9.81M |
| Surprise % | - | - | - | - | - | - | - | - | - | 0.87% | 1.16% | 0.25% | 0.52% | 10.57% | -7.07% | 0.28% | 0.19% | 0.30% | -0.15% | -0.24% | 0.67% |
Bitfarms's average Quarter net income forecast for Jun 22 is $20.06M, with a range of $14.98M to $24.52M. BITF's average Quarter net income forecast represents a 343.95% increase compared to the company's last Quarter net income of $4.52M (Mar 22).
Bitfarms SG&A Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 2 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | - | - | - | - | 2 | 2 | 2 | 2 | 1 |
| SG&A | - | - | - | - | - | - | - | - | - | $8.37M | $9.15M | $3.20M | $11.97M | $4.20M | $5.50M | $6.18M | $4.94M | $3.33M | $3.11M | $2.82M | $-2.60M |
| Avg Forecast | $-173.76M | $-149.87M | $-130.39M | $-116.61M | $-84.62M | $-56.92M | $-48.11M | $-54.94M | $-46.45M | $-36.92M | $-37.31M | $-31.92M | $-27.60M | $-40.54M | $-52.08M | $-42.70M | $-67.50M | $-50.25M | $-24.48M | $-25.88M | $-10.14M |
| High Forecast | $-150.92M | $-130.17M | $-113.25M | $-101.28M | $-73.50M | $-46.37M | $-41.78M | $-47.72M | $-42.73M | $-32.07M | $-32.40M | $-27.72M | $-23.97M | $-35.21M | $-41.93M | $-34.37M | $-54.34M | $-40.45M | $-19.70M | $-20.83M | $-8.16M |
| Low Forecast | $-217.36M | $-187.48M | $-163.11M | $-145.87M | $-105.86M | $-66.79M | $-60.18M | $-68.73M | $-50.17M | $-46.19M | $-46.67M | $-39.93M | $-34.53M | $-50.72M | $-60.99M | $-50.00M | $-79.04M | $-58.84M | $-28.66M | $-30.30M | $-11.87M |
| Surprise % | - | - | - | - | - | - | - | - | - | -0.23% | -0.25% | -0.10% | -0.43% | -0.10% | -0.11% | -0.14% | -0.07% | -0.07% | -0.13% | -0.11% | 0.26% |
Bitfarms's average Quarter SG&A projection for Dec 23 is $-46.45M, based on 3 Wall Street analysts, with a range of $-50.17M to $-42.73M. The forecast indicates a -654.81% fall compared to BITF last annual SG&A of $8.37M (Sep 23).
Bitfarms EPS Forecast
| Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | 1 | 1 | 2 | 5 | 2 | 2 | 3 | 1 | 1 | 1 | - | - | - | - | 2 | 2 | 2 | 2 | 1 |
| EPS | - | - | - | - | - | - | - | - | - | $-0.07 | $-0.10 | $-0.01 | $-0.08 | $-0.40 | $-0.70 | $0.02 | $0.06 | $0.14 | $-0.02 | $-0.06 | $-0.06 |
| Avg Forecast | $0.04 | $0.02 | $-0.01 | $-0.02 | $-0.06 | $-0.09 | $-0.11 | $-0.02 | $-0.02 | $-0.05 | $-0.05 | $-0.03 | $-0.08 | $-0.02 | $0.05 | $0.04 | $0.13 | $0.20 | $0.06 | $0.08 | $-0.02 |
| High Forecast | $0.05 | $0.02 | $-0.01 | $-0.02 | $-0.05 | $-0.04 | $-0.09 | $-0.01 | $-0.02 | $-0.04 | $-0.04 | $-0.02 | $-0.07 | $-0.02 | $0.06 | $0.05 | $0.16 | $0.24 | $0.07 | $0.10 | $-0.01 |
| Low Forecast | $0.03 | $0.01 | $-0.01 | $-0.03 | $-0.07 | $-0.17 | $-0.14 | $-0.02 | $-0.02 | $-0.07 | $-0.07 | $-0.03 | $-0.11 | $-0.03 | $0.04 | $0.03 | $0.10 | $0.15 | $0.04 | $0.06 | $-0.02 |
| Surprise % | - | - | - | - | - | - | - | - | - | 1.28% | 1.88% | 0.43% | 1.00% | 20.00% | -14.00% | 0.50% | 0.47% | 0.70% | -0.33% | -0.75% | 3.16% |
According to 0 Wall Street analysts, Bitfarms's projected average Quarter EPS for Jun 22 is $0.05, with a low estimate of $0.04 and a high estimate of $0.06. This represents a 150.00% increase compared to BITF previous annual EPS of $0.02 (Mar 22).
Bitfarms Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| CLSK | CleanSpark | $9.38 | $25.33 | 170.04% | Buy |
| CIFR | Cipher Mining | $3.09 | $7.90 | 155.66% | Buy |
| RIOT | Riot Blockchain | $7.20 | $16.14 | 124.17% | Buy |
| BTBT | Bit Digital | $2.87 | $6.00 | 109.06% | Buy |
| BITF | Bitfarms | $2.04 | $4.26 | 108.82% | Buy |
| MARA | Marathon Digital | $16.12 | $31.20 | 93.55% | Buy |
| IREN | Iris Energy | $7.56 | $13.36 | 76.72% | Buy |
| HIVE | HIVE Blockchain | $3.08 | $5.00 | 62.34% | Buy |
| WULF | TeraWulf | $4.24 | $6.08 | 43.40% | Buy |
| HUT | Hut 8 Mining | $11.24 | $15.70 | 39.68% | Buy |
| SDIG | Stronghold Digital Mining | $4.61 | $6.25 | 35.57% | Hold |
BITF Forecast FAQ
Is Bitfarms a good buy?
Yes, according to 5 Wall Street analysts, Bitfarms (BITF) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 5 'Buy' recommendations, accounting for 100.00% of BITF's total ratings.
What is BITF's price target?
Bitfarms (BITF) average price target is $4.26 with a range of $2.3 to $6, implying a 108.82% from its last price of $2.04. The data is based on 5 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Bitfarms stock go up soon?
According to Wall Street analysts' prediction for BITF stock, the company can go up by 108.82% (from the last price of $2.04 to the average price target of $4.26), up by 194.12% based on the highest stock price target, and up by 12.75% based on the lowest stock price target.
Can Bitfarms stock reach $3?
BITF's average twelve months analyst stock price target of $4.26 supports the claim that Bitfarms can reach $3 in the near future.
What are Bitfarms's analysts' financial forecasts?
Bitfarms's analysts financial forecasts for the fiscal year (Dec 2024) are as follows: average revenue is $226.84M (high $279.68M, low $194.18M), average EBITDA is $83.56M (high $103.02M, low $71.53M), average net income is $-108M (high $-76.724M, low $-164M), average SG&A $-245M (high $-209M, low $-302M), and average EPS is $-0.27 (high $-0.191, low $-0.41). BITF's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $529.23M (high $662.04M, low $459.67M), average EBITDA is $194.94M (high $243.87M, low $169.32M), average net income is $10.43M (high $19.82M, low $2.67M), average SG&A $-571M (high $-496M, low $-714M), and average EPS is $0.026 (high $0.0494, low $0.00664).
Did the BITF's actual financial results beat the analysts' financial forecasts?
Based on Bitfarms's last annual report (Dec 2022), the company's revenue was $-8.382M, which missed the average analysts forecast of $151.1M by -105.55%. Apple's EBITDA was $-95.242M, missing the average prediction of $55.66M by -271.12%. The company's net income was $-239M, beating the average estimation of $-4.012M by 5857.80%. Apple's SG&A was $51.51M, missing the average forecast of $-163M by -131.61%. Lastly, the company's EPS was $-1.15, beating the average prediction of $-0.01 by 11400.00%. In terms of the last quarterly report (Sep 2023), Bitfarms's revenue was $34.6M, beating the average analysts' forecast of $34.24M by 1.03%. The company's EBITDA was $2.45M, missing the average prediction of $12.61M by -80.60%. Bitfarms's net income was $-18.703M, missing the average estimation of $-21.399M by -12.60%. The company's SG&A was $8.37M, missing the average forecast of $-36.92M by -122.68%. Lastly, the company's EPS was $-0.0683, beating the average prediction of $-0.0533 by 28.06%