Bitfarms Ltd. (BITF) Stock Surges 20% on Share Buyback Announcement

Bitfarms Ltd. (BITF) shares rallied sharply, climbing 16.81% during regular trading hours and an additional 3.03% after hours, closing at $1.36. The surge followed the company's announcement of a share buyback program approved by its Board of Directors. The Toronto Stock Exchange greenlit the repurchase of up to 49.9 million shares, representing 10% of its public float, signaling confidence in undervalued operations and growth potential.

Market participants responded with heightened trading volume, driving the stock higher. Bitfarms framed the buyback as a strategic MOVE to enhance shareholder value while pursuing expansion opportunities. Daily repurchases on the TSX will be capped at 494,918 shares, with the program set to run from July 28, 2025, to July 27, 2026.