Bitcoin Mining Company Bitfarms Starts Trading on Nasdaq Next Week – Mining Bitcoin News

Mining company Bitfarms announced that it will start trading on the Nasdaq Global Select Market on June 21. The company claims to process 1% of the global hashrate and with “99% green hydropower”.

Bitfarms Renewable Operations is listed on the Nasdaq Global Select Market

Canadian bitcoin mining company Bitfarms announced Thursday that the company will be listed on the Nasdaq on Monday, June 21. The company is already listed on the TSX Venture Exchange and uses the ticker “BITF”.

The company uses the same ticker symbol for its Nasdaq listing. According to the announcement, Bitfarms has received DTC eligibility, which essentially means that shares can be deposited through DTC, the largest securities custodian in the world.

“The listing on the Nasdaq is an important achievement for Bitfarms and a significant milestone in the company’s many years of development and performance,” said Emiliano Grodzki, Founder and CEO of Bitfarms, during the announcement.

“We started this company four years ago with a clear belief in the institutional adoption of bitcoin and bitcoin mining. That belief guided us as we worked to build one of the largest Bitcoin mining companies in the world, ”added Grodzki.

According to Bitfarms’ website, the company currently operates 69 megawatts of power and dedicates around 1,420 petahash per second (PH / s) to SHA256 hashrate. The rate of Bitfarms facilities in Quebec is around 1.42 exahash per second (EH / s).

Bitfarms operates Bitcoin mining facilities in the Farnham, Cowansville, Sherbrooke, Saint-Hyacinthe and Magog regions of Quebec. Bitfarms isn’t the only crypto mining company listed these days as Hut 8 Mining was also approved for Nasdaq listing earlier this week.

However, Grodzki says Bitfarms will be the largest publicly traded miner in terms of hashrate and operations, almost all of which are powered by green energy.

“When Bitfarms starts trading on Nasdaq, it will be the largest publicly traded bitcoin miner in North America using more than 99% renewable hydroelectric power,” noted Grodzki.

Statistics, at least according to the websites of both companies, show Bitfarms has slightly more hash power than Hut 8. While Hut 8 consumes 109 megawatts of energy, the company’s mines in Medicine Hat and Drumheller, Alberta, dedicate around 1,073 PH / s SHA256 hashrate to secure the bitcoin network.

What do you think of Bitfarms listing shares on the Nasdaq? Let us know what you think in the comments section below.

Tags in this story

99% Hydro, Bitcoin Miners, BITF, Bitfarms, Canada, Crypto Mining Company, DTC Authority, Emiliano Grodzki, Hut 8, Nasdaq, Nasdaq Global Market, North American Miners, Renewable Power, SHA256 Hashrate

Photo credits: Shutterstock, Pixabay, Wiki Commons

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