Where is Bitfarms Ltd. (BITF) Headed According to Analysts?

Bitfarms Ltd. (NASDAQ:BITF) is one of the best long-term penny stocks to invest in. Bitfarms Ltd. (NASDAQ:BITF) received a rating update from Alliance Global Partners analyst Brian Kinstlinger on November 14, who maintained a Buy rating on the stock and lifted the price target to $6 from $2.50.

According to the firm, shares of Bitfarms Ltd. (NASDAQ:BITF) deserve a “much higher multiple”, primarily because of progress in capital requirements, timing risks, and the eventual need of tenants. The analyst also told investors in a research note that the company has plans to convert a significant portion of its energy capacity to AI sites with a focus on long-term recurring revenue and a very high margin.

In addition to Alliance Global Partners, Cantor Fitzgerald also lifted the price target on Bitfarms Ltd. (NASDAQ:BITF) to $5 from $2.20 the same day, and reaffirmed an Overweight rating on the shares. The firm told investors that the company’s reported numbers were affected by it moving a part of its business to the discontinued operations. Despite that, the firm called the earnings call “encouraging” on several fronts.

Bitfarms Ltd. (NASDAQ:BITF) also received a rating update from H.C. Wainwright on November 14. While the firm maintained a Buy rating on the stock, it slashed the price target to $4 from $5.50, citing the “lackluster” Q3 results reported by the company. However, it added that the recent rotation out of AI-related stocks “has created an attractive buying opportunity”, and views Bitfarms Ltd. (NASDAQ:BITF) as one of the most underappreciated bitcoin miners.

Bitfarms Ltd. (NASDAQ:BITF) reported its fiscal Q3 2025 results on November 13, with revenue of $69 million from continuing operations and $14 million from discontinued operations. The company also successfully closed $588 million convertible notes offering.

Bitfarms Ltd. (NASDAQ:BITF) is a vertically integrated Bitcoin mining company based in Canada, and has data centers operating in the US, Canada, Argentina, and Paraguay. The company operates server farms that comprise computers (Miners) specifically designed to validate transactions on the Bitcoin Blockchain.

While we acknowledge the potential of BITF as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.