Never miss an important stock portfolio update and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed for FREE where it matters.
Bitfarms’ latest update keeps the model’s fair value stable at CA$8.48 per share, while the discount rate increases slightly to 7.59% and revenue growth assumptions remain effectively unchanged at 37.19%. In other words, the overall anchoring of valuation is intact; However, the required return has been increased as analysts focus more on crypto’s liquidity, funding risk, and political environment.
As you read on, you’ll see how these small adjustments reflect a larger shift in the story around risk control and how you can stay on top of how that narrative evolves from here.
Stay up to date as Bitfarms fair value changes by adding it to your watchlist or portfolio. You can also explore our community to discover new perspectives on Bitfarms.
Recent analyst commentary around Bitfarms has become more cautious, with the focus now shifting to the liquidity, funding conditions, and political backdrop of crypto assets.
🐂 Bullish Takeaways
Even though recent headlines are cautious, the fact that Bitfarms still receives detailed coverage from the likes of Keefe Bruyette and TD Cowen suggests that the stock remains on the radar of institutions that closely track crypto-exposed names.
TD Cowen’s Jan. 14 commentary on delays in market structure legislation highlights that some analysts are closely watching the regulatory process. This can help investors frame Bitfarms within a broader political debate rather than treating it solely as a trading vehicle.
🐻 Bearish Takeaways
On January 26, Keefe Bruyette downgraded Bitfarms to Market Perform, explicitly citing liquidity risks. This reflects a more cautious stance on the company’s ability to finance its operations and growth without putting pressure on its balance sheet.
A separate Jan. 26 note from Keefe Bruyette describes the firm as becoming increasingly bearish on Bitfarms, reinforcing that concerns over liquidity and funding conditions are a priority for at least one hedging broker.
TD Cowen’s January 14 opinion that delays in market structure legislation are negative for crypto links between Bitfarms’ risk profile and regulatory timeline. This may weigh on how analysts view the execution, access to capital and reliability of future growth initiatives.
Do your thoughts match those of bullish or bearish analysts? Perhaps you think there is more to the story. Visit the Simply Wall St community to discover more perspectives or start writing your own story!
TSX:BITF 1 year stock price chart
US regulators have announced plans to establish clearer rules for crypto, taking a closer look at how digital assets, trading platforms and miners like Bitfarms are treated. This could reshape compliance expectations and operating conditions across the industry.
The White House is preparing for meetings with banks and crypto companies, remaining attentive to how policy decisions could affect access to capital, banking partnerships and oversight of companies exposed to crypto, including miners.
Japan’s financial watchdog intends to require cryptocurrency exchanges to hold liability reserves to protect customers from hacks or losses. The move highlights the growing regulatory focus on risk management and liquidity practices around digital assets.
Bitfarms was added to the S&P/TSX Composite Index, the S&P/TSX Completion Index, and the S&P/TSX Capped Composite Index, while reporting a total BTC earned of 520 for the third quarter of 2025 and 1,570 for the first nine months of 2025. This gives an idea of how its production scale currently looks alongside its inclusion in the index.
Fair value: The model fair value per share is unchanged at C$8.48. There are no adjustments to the central assessment results in this update.
Discount rate: The discount rate is now 7.59%, up from 7.56%. This indicates a slightly higher required return on equity.
Revenue Growth: The revenue growth assumption effectively remains stable at 37.19%, with no significant change in the revenue outlook used in the model.
Net Profit Margin: The net profit margin assumption is effectively unchanged, increasing slightly from 35.69% to 35.70%. The profit conversion framework in the model therefore remains stable.
Future P/E: The future P/E multiple is now 22.19x, up from 21.91x. This implies a slightly higher valuation multiple applied to the projected earnings in the model.
Stories present a clear story behind the numbers, tying your view of a company’s future revenues, profits and margins to a fair value that you can compare with the current stock price. On the Simply Wall St community page, millions of investors use Narratives as a simple way to connect company history, financial forecasts, and a fair value that automatically updates when news or earnings come in, helping you decide if the price still fits your thesis.
If you want to see how this thinking plays out for Bitfarms, read the original Bitfarms story on Simply Wall St and keep an eye out for updates regarding:
Bitfarms’ move toward renewable energy-powered data centers and high-performance computing aims to support new revenue streams alongside its Bitcoin operations.
The use of project finance and debt facilities to finance large campuses, and what this means in terms of liquidity and execution risk if conditions change.
How continued exposure to Bitcoin and evolving crypto regulations could affect the company’s cash flow, risk profile, and valuation multiples used in the company’s fair value model.
Curious how numbers become stories that shape markets? Explore community stories
This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to constitute financial advice. It does not constitute a recommendation to buy or sell shares and does not take into account your objectives or your financial situation. Our goal is to provide you with targeted, long-term analysis based on fundamental data. Note that our analysis may not take into account the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include BITF.TO.
Any feedback on this article? Worried about the content? Contact us directly. You can also email editor-team@simplywallst.com
