Why Bitfarms Ltd. (BITF) is One of the Best Strong Buy Penny Stocks to Invest In

Bitfarms Ltd. (NASDAQ:BITF) is one of the best strong buy penny stocks to invest in. Bitfarms Ltd. (NASDAQ:BITF) announced on February 6 that its Board of Directors approved a plan of arrangement under which it would redomicile from Canada to the United States, subject to receipt of shareholder, stock exchange, and court approvals.

Management reported that the arrangement marks the culmination of an elaborate strategic review process that the Board undertook for the past 12 months, along with the ongoing analysis of capital market trends and investor sentiment to identify opportunities to boost long-term shareholder value.

In another development, Bitfarms Ltd. (NASDAQ:BITF) was downgraded to Market Perform from Outperform on January 26 by Keefe Bruyette, with the firm lifting the price target to $3 from $2.50. It told investors that it does not anticipate the materialization of a leasing agreement for the company until H2 2026, and also voiced concerns regarding the company’s rising leverage and increasing capex. Keefe stated that it would adopt a more constructive outlook towards the shares with increased clarity on Bitfarms Ltd.’s (NASDAQ:BITF) liquidity and 2026 capex.

Bitfarms Ltd. (NASDAQ:BITF) is a vertically integrated Bitcoin mining company based in Canada. 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.