Stock Track | Bitfarms Ltd. Surges 6.07% in Pre-market on Bullish Analyst Coverage and Bitcoin Rally

Stock Track

2024-12-05

Bitfarms Ltd. (BITF) stock soared 6.07% in the pre-market trading session on Thursday, riding high on positive analyst coverage and a surge in the price of Bitcoin.

Alliance Global Partners analyst Brian Kinstlinger initiated coverage on Bitfarms with a Buy rating and a $6 price target, citing the company's strong power capacity and positioning for growth in the cryptocurrency mining industry. Kinstlinger's bullish stance and significant upside projected for the stock price boosted investor sentiment and drove up BITF's shares.

Adding to the upward momentum, the price of Bitcoin soared to nearly $100,000 on Wednesday afternoon, following news that President-elect Donald Trump had tapped Paul Atkins, a crypto advocate, to lead the Securities and Exchange Commission. Atkins' nomination was seen as a positive for cryptocurrencies, as he has previously criticized regulatory actions taken by the SEC under Gary Gensler's leadership.

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Surges 6.07% in Pre-market on Bullish Analyst Coverage and Bitcoin Rally\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-12-05 17:05</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Bitfarms Ltd. (BITF) stock soared 6.07% in the pre-market trading session on Thursday, riding high on positive analyst coverage and a surge in the price of Bitcoin.</p>\n<p>Alliance Global Partners analyst Brian Kinstlinger initiated coverage on Bitfarms with a Buy rating and a $6 price target, citing the company's strong power capacity and positioning for growth in the cryptocurrency mining industry. 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