Key facts:
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The shares, under the BITF symbol, have been traded in a range of $ 3.90 to $ 4.11.
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The firm has generated at least 1% of the bitcoins in circulation with hydropower.
The Canadian Bitcoin mining company, Bitfarms, began trading, on Monday, June 21, on Nasdaq, the second largest stock exchange in the United States. The firm, which is almost entirely powered by renewable energy, debuted with the BITF symbol.
Shares opened at $ 4.27 each, but were trading lower, at least 6,22% below the original price. Throughout the day they have been trading in a range of USD 3.90 to USD 4.11, as the real-time quotes screen showed at the time of writing this note.
The company’s founder, Emiliano Grodzki, called the Nasdaq debut an achievement for a company that has been focused on its development. For four years Bitfarms has been working with a clear belief that the mass adoption of bitcoin is possible, as well as the progress of digital mining.
Bitfarms is the largest publicly traded Bitcoin miner in North America, using more than 99% of renewable hydropower electricity. We are proud to be an industry leader in setting the highest standards for ourselves and our mining operations and to be listed on one of the most prestigious stock exchanges in the world.
Emiliano Grodzki, founder and CEO of Bitfarms.
With its debut on Nasdaq, Bitfarms is placed in the small group of Bitcoin mining companies listed on the US stock exchange, such as Marathon Digital Holdings, Riot Blockchain Canaan Inc.
Bitcoin mining with renewable energy
In its statement, Bitfarms highlights that it has a diversified production platform with five industrial-scale facilities, located in Quebec. Each facility is powered by almost 100% environmentally friendly energy.
As reported by CriptoNoticias Bitfarms mined 1,000 bitcoins with hydropower so far this year. In addition, the firm has produced about 1% of the bitcoins in circulation, managing to extract about 8 BTC per day at a mining cost close to USD 9,500 each.
On the other hand, Bitfarms was one of the first cryptocurrency miners to start trading on Canada’s TSX Venture Exchange in July 2019. Then, in February of this year, it was ranked in the list of the five rising companies. Bitfarm shares catapulted more than 1.033 percent in the last year on the TSXV, while gaining more than 111 percent this year.
However, prior to its debut on the Nasdaq, Bitfarms shares trading on the TSXV fell about 2% to close to 5.28 Canadian dollars on Friday, June 18.