HC Wainwright Has Bearish Forecast for Bitfarms Q1 Earnings

Bitfarms Ltd. (NASDAQ:BITF) – Research analysts at HC Wainwright cut their Q1 2026 earnings per share estimates for Bitfarms in a research report issued to clients and investors on Tuesday, March 31st. HC Wainwright analyst M. Colonnese now expects that the company will earn ($0.07) per share for the quarter, down from their prior forecast of ($0.04). HC Wainwright currently has a “Buy” rating and a $3.70 target price on the stock. The consensus estimate for Bitfarms’ current full-year earnings is ($0.21) per share. HC Wainwright also issued estimates for Bitfarms’ Q2 2026 earnings at ($0.07) EPS, Q3 2026 earnings at ($0.06) EPS, Q4 2026 earnings at ($0.06) EPS and FY2026 earnings at ($0.25) EPS.

BITF has been the topic of several other research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.00 price objective (up from $2.50) on shares of Bitfarms in a report on Tuesday, January 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bitfarms in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Bitfarms currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.14.

Bitfarms Stock Performance

NASDAQ BITF opened at $1.98 on Friday. The company has a market cap of $1.19 billion, a P/E ratio of -8.61 and a beta of 3.77. The company has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $2.87. The company has a current ratio of 3.20, a quick ratio of 3.14 and a debt-to-equity ratio of 0.11. Bitfarms has a 12-month low of $0.67 and a 12-month high of $6.60.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BITF. Geode Capital Management LLC boosted its holdings in Bitfarms by 3.8% during the second quarter. Geode Capital Management LLC now owns 3,449,002 shares of the company’s stock worth $2,860,000 after purchasing an additional 125,156 shares during the last quarter. Creative Planning increased its stake in Bitfarms by 54.0% in the 2nd quarter. Creative Planning now owns 85,580 shares of the company’s stock valued at $72,000 after buying an additional 30,000 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Bitfarms by 1.4% during the 2nd quarter. Cetera Investment Advisers now owns 789,700 shares of the company’s stock worth $664,000 after buying an additional 10,622 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Bitfarms by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 370,869 shares of the company’s stock worth $309,000 after buying an additional 14,513 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Bitfarms by 40.4% in the 2nd quarter. Invesco Ltd. now owns 13,234,973 shares of the company’s stock worth $11,120,000 after buying an additional 3,806,810 shares during the last quarter. 20.59% of the stock is owned by institutional investors.

Key Bitfarms News

Here are the key news stories impacting Bitfarms this week:

• Positive Sentiment: Shares jumped after the company announced a strategic expansion (an AI pivot) and despite reporting a large net loss, investors appeared to focus on growth and strategy. Bitfarms Shares Jump Despite $285M Net Loss as Miner Expands AI Pivot
• Positive Sentiment: Bitfarms officially rebranded as Keel Infrastructure and completed U.S. redomiciliation — moves that can improve U.S. investor access, governance perception and potentially valuation multiples over time. Bitfarms Officially Rebrands as Keel Infrastructure; Completes U.S. Redomiciliation
• Positive Sentiment: Q4 revenue rose ~39.7% year-over-year, a sign of top-line momentum even as profitability remains pressured by costs. BITF Q4 Loss Wider Than Estimates, Revenues Grow Y/Y, Shares Rise
• Neutral Sentiment: Management’s Q4 earnings call transcript is available for investors seeking detail on cost drivers, mining efficiency and the AI initiative (useful for due diligence but not an immediate catalyst). Bitfarms Ltd. Q4 2025 Earnings Call Transcript
• Negative Sentiment: HC Wainwright trimmed near-term EPS and cut its FY2026 EPS forecast materially (FY now pegged at ($0.25) vs prior ($0.17)), signaling weaker profit outlooks even though the firm kept a “Buy” and $3.70 target. Analyst downgrades to EPS can pressure the stock if earnings miss expectations. HC Wainwright Has Lowered Expectations for Bitfarms Stock Price
• Negative Sentiment: Northland Securities also issued lower quarterly and full‑year EPS estimates (several quarters around ($0.05)-($0.06) and FY ~$($0.22)), adding to downward earnings revisions that could weigh on sentiment. MarketBeat – Bitfarms analyst notes
• Negative Sentiment: Q4 posted a wider-than-expected loss (costs continue to pressure margins and drove the larger loss despite revenue growth), a direct near-term drag on profitability expectations. BITF Q4 Loss Wider Than Estimates, Revenues Grow Y/Y, Shares Rise

About Bitfarms

Bitfarms Ltd. is a publicly traded, vertically integrated Bitcoin mining company listed on the NASDAQ under the ticker BITF. The company engages in the large-scale operation of cryptocurrency mining farms, leveraging specialized computing hardware to validate and secure the Bitcoin blockchain. By converting electrical energy into computing power, Bitfarms plays a critical role in processing transactions on the Bitcoin network and earning mining rewards.

Bitfarms operates data centers in several jurisdictions with access to low-cost, primarily renewable energy sources.