Here’s Why Bitfarms CEO Believes The Stock Is Undervalued: ‘Little To No Value Being Associated With Our HPC Potential’
Bitfarms’ board approved a share buyback of up to 49.9 million shares.
Bitfarms (BITF) CEO Ben Gagnon believes the company’s stock is trading below its intrinsic value, as the market is overlooking the value of its Bitcoin operations.
“We believe that Bitfarms’ shares are currently undervalued because our Bitcoin business is underappreciated by the market, with little to no value being associated with our HPC potential,” said CEO Ben Gagnon.
The comment came on Tuesday, after the company’s Board of Directors approved a share repurchase initiative, authorizing a buyback of up to 49.9 million of its common shares, equivalent to roughly 10% of its public float.
Following the announcement, Bitfarms stock traded over 17% higher in Tuesday morning after the bell.
On Stocktwits, retail sentiment toward Bitfarms jumped to ‘bullish’ from ‘bearish’ territory the previous day. Message volume levels improved to ‘high’ from ‘normal’ levels in 24 hours.
Bitfarms’ message count surged 887% in the last 24 hours.
A Stocktwits user expressed optimism about the buyback plans.
The Toronto Stock Exchange (TSX) has greenlit the buyback plan, allowing the company to implement a normal course issuer bid beginning July 28, 2025, and running through July 27, 2026.
Bitfarms intends to carry out the buybacks on both the TSX and the Nasdaq, with purchases subject to several variables, including available liquidity and market conditions.
On the TSX, daily purchases will not exceed 494,918 shares, which amounts to 25% of the company’s average daily volume over the prior six-month period ending June 30, 2025.
Bitfarms stock has lost over 24% year-to-date and over 60% in the last 12 months.
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