Bitfarms Rockets 18% After Bold Share Buyback Move—Wall Street Scrambles to Keep Up

Bitfarms just lit a fuse under its stock price with a strategic share buyback—and the market responded like a bull spotting a red flag. The Bitcoin miner's shares surged nearly 18% as investors cheered the power play.

When miners start playing chess instead of digging...

The buyback signals confidence in Bitfarms' undervalued position—or maybe just desperation to distract from another brutal crypto winter. Either way, traders aren't asking questions while the ticker turns green. Pro tip: Watch where the insiders put their own money next.

Bitfarms also spent months entangled in a takeover attempt by Riot Platforms, a contest that finally concluded in September.

Management noted that actual buyback activity depends on several factors, including how much cash the company needs for operations, overall market conditions, its share price, and any rules or limits imposed by regulators.

Gagnon added, “We strongly believe our unique and highly desirable energy portfolio in Pennsylvania will drive long-term, sustainable growth that is financeable and enables management to leverage its balance sheet strength to drive shareholder value with this buyback program …”

Strategy launches Bitcoin stock pegged at $100 to increase treasury

Strategy, the largest corporate owner of Bitcoin, has unveiled a new stock to boost its cash reserves for further crypto purchases. Michael Saylor’s firm plans to offer 5 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) in an initial public offering.

In its Monday announcement, Strategy said it will channel the proceeds into “general corporate purposes, including the acquisition of Bitcoin and for working capital.”

Unlike past issues, the STRC shares carry a variable dividend based on a $100 face value. The first regular dividend, paid monthly, will annualize to 9 percent.

This launch follows a $4.2 billion at-market share sale announced on July 7, where Strategy taps the market to raise equity for more Bitcoin purchases.

The new preferred stock will be sold via IPO to “select investors,” Saylor noted in an X post on Monday.

According to the filing, Strategy intends to “adjust the monthly regular dividend rate per annum in such manner as Strategy believes is designed to cause the STRC Stock to trade at prices at or close to its stated amount of $100 per share.”

KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage