Investorideas.com, a global news source and expert resource for investing in bitcoin and cryptocurrency stocks, reported on February 14, 2024 that TSX stocks are among the top gainers and traders by volume. One of the companies leading the way is Bitfarms Ltd. (TSX : BITF), a vertically-integrated global company in the mining industry. The company’s stock is currently trading at $4.54, reflecting a 11.55% increase in value with a volume of 7,744,546.00 securities.
In their February monthly report, Bitfarms announced their aggressive growth plan for 2024, targeting hashrates of 12 EH/s in the first half of the year and 21 EH/s in the second half. According to President and CEO, Geoff Morphy, the company is continuously finding ways to expand their operations, such as the new farm development in Paraguay which is expected to drive much of this growth. Additionally, Chief Mining Officer Ben Gagnon stated that January’s mining operations generated 357 BTC, reflecting a return to more normal transaction fees compared to the temporary spike in December 2023.
Hut 8 Corp. (TSX: HUT) also saw a significant increase in percentage, moving from $13.55 to $1.98 (+17.11%). Headquartered in Miami, Florida, Hut 8 Corp. has eleven sites in their infrastructure portfolio, including five high performance computing data centers across British Columbia and Ontario. They also have six companies providing cloud, colocation, and AI solutions, with mining, hosting, and managed services sites located in Alberta, New York, Nebraska, and Texas.
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