TLDR
- Bitfarms surges 20% after unveiling major 10% share buyback program.
- Buyback boost: Bitfarms to repurchase 49.9M shares, stock jumps 20%.
- Bitfarms eyes value unlock with new TSX-Nasdaq share repurchase plan.
- Stock rallies as Bitfarms reveals aggressive buyback, growth strategy.
- Bitfarms buyback fuels confidence, shares soar on value push.
Bitfarms Ltd. (Nasdaq/TSX: BITF) saw a sharp rise in share price, climbing 16.81% during regular trading hours on July 22. The upward movement continued after hours, with shares gaining another 3.03% and closing at $1.36. The rally came immediately after the announcement of a corporate share buyback program authorized by its Board of directors.
The company confirmed the Toronto Stock Exchange approved its notice to launch a normal course issuer bid. Bitfarms can now repurchase up to 49,943,031 shares, representing 10% of its public float. The buyback period starts July 28, 2025, and ends July 27, 2026.
Market participants responded strongly to the update, driving volume and price higher. Bitfarms attributed the initiative to an undervaluation of its operations and potential. The company also aims to use this program to enhance shareholder value while exploring new growth strategies.
Buyback Strategy Highlights Growth Confidence
Bitfarms outlined that daily repurchases on the TSX will be capped at 494,918 shares, subject to block purchase exceptions. The company will also repurchase shares through Nasdaq, but not exceeding 5% of outstanding shares during the program term. All shares repurchased will be canceled to reduce share count and enhance value per share.
Bitfarms has engaged a designated broker to manage purchases during blackout periods. The broker will act on instructions provided before blackout windows begin. Outside of blackout periods, management will determine timing and volume based on various internal and market factors.
Bitfarms plans to make repurchases through TSX, Nasdaq, or other channels permitted by exchange rules or law. Share repurchases will occur at the prevailing market price or within guidelines set by the exchanges. While Bitfarms intends to buy shares, the company holds no obligation to do so at any fixed rate.
Operational Scale and Expansion Roadmap
Bitfarms operates as a vertically integrated energy and compute infrastructure company focused on digital asset mining. The firm currently runs 15 data centers across the United States, Canada, Argentina, and Paraguay. These facilities support its core Bitcoin mining operations and evolving high-performance computing (HPC) ambitions.
Bitfarms continues to expand its infrastructure pipeline, particularly in Pennsylvania, where it maintains a strategic energy portfolio. This portfolio supports its long-term plans in AI and HPC, alongside its established Bitcoin business. The company believes these assets provide a strong foundation for scalable and financeable growth.
Bitfarms aims to reinforce balance sheet strength while capitalizing on untapped valuation potential. The move reflects ongoing efforts to align market value with the company’s broader capabilities. Bitfarms remains focused on operational efficiency and strategic capital deployment.
