Bitfarms Stock Surges 9% as Analysts Raise Targets on AI Infrastructure Shift
Bitfarms shares rallied sharply after multiple analysts upgraded price targets, citing the company's strategic pivot toward high-margin AI data center operations. The stock closed at $2.97, marking a 7.22% gain with unusually active call option trading.
Alliance Global delivered the most bullish revision, doubling its target to $6 following Bitfarms' $128 million facility conversion deal featuring Nvidia GPU infrastructure. Cantor Fitzgerald and H.C. Wainwright also raised targets to $5, acknowledging near-term restructuring impacts while emphasizing long-term growth potential.
Options markets signaled heightened expectations, with implied volatility spiking 25 points to 132.15. The 0.62 put/call ratio reflected particularly strong demand for upside exposure, suggesting traders anticipate continued momentum.
