Bitfarms (BITF) Stock Plummets as Miner Abandons Bitcoin for AI
TLDR Bitfarms stock plummeted 18% to $2. 60 after revealing plans to completely exit Bitcoin mining by 2027 and transition to AI infrastructure. The company reported a $46 million Q3 loss, double the previous year’s loss, with revenue missing analyst forecasts by over 16%. CEO Ben Gagnon stated the Washington facility conversion to AI could generate [.] The post Bitfarms (BITF) Stock Plummets as Miner Abandons Bitcoin for AI appeared first on Blockonomi.