Bitfarms, a cryptocurrency mining operation, is getting ready to make its debut on the pink sheets. The Canada-based company will be listed on the over-the-counter-market as a direct-public offering (DPO) on January 29th, 2018. The company is a joint effort between a company called Bitfarms, a cryptocurrency mining operation, and a private investment firm.
Bitfarms, a Toronto-based bitcoin mining company, announced that it has received approval to list its common stock on the Nasdaq Global Market. The Company is already listed on the Toronto Stock Exchange (TSX) and will be listed on the Nasdaq under the ticker symbol BITF.
Bitcoin mining company Bitfarms gets listed on Nasdaq Global Market Level
Bitfarms has announced that it will become a bitcoin miner listed on the Nasdaq Global Market. This level of the Nasdaq platform is designed for companies that are in a strong financial position and meet higher standards than the lower Nasdaq levels.
Bitfarms, which was named in 2017, says its adoption of the Nasdaq Global Market level is a strong endorsement.
Listing on the Nasdaq Global Market is an incredible achievement for Bitfarms and the culmination of years of hard work and dedication, said Emiliano Grodzki, CEO of Bitfarms. Over the past four years we have been able to build and operate one of the largest bitcoin mines in the world. It is only fitting that we are listed on one of the most prestigious stock exchanges in the world, which significantly increases the market reach of our business.
A mining company must first obtain proof of eligibility to participate in electronic clearing and settlement through DTC
Bitfarms’ listing on Nasdaq follows the company’s recent partnership with Foundry and the addition of 2,465 bitcoin miners to its fleet. Bitfarms also plans to begin mining in Argentina to take advantage of electricity rates of $0.02 per kilowatt per hour (kWh).
Two days ago, the company announced the purchase of 6,600 S19j anthracite from Bitmain. This fall, miners will give Bitfarms about 2.5 exahash per second (EH/s).
The additional 660 PH added to their mining operation will strengthen their mining presence and further establish Bitfarms as one of the leading mining companies in North America, said Irene Gao, sales manager for Antminer in Bitmain’s NCSA region.
The final requirement that a mining company must meet is the confirmation of the right to electronic clearing and settlement by the Depository Trust Company (DTC). If approved, Bitfarms BITF will be able to list on the Nasdaq Global Market.
What do you think about Bitfarms being approved for listing on Nasdaq? Let us know what you think in the comments below.
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