I have just increased my Bitfarms position a little because I still see huge future and growth potential.
In particular, the strategic shift towards HPC and AI could provide another boost in the near future and make the company less dependent on the crypto market.
Other positive developments are:
1. the recent appointment of Wayne Duso, a former senior manager at AWS, to the Board of Directors is a strong signal. Duso brings over 25 years of experience in developing cloud storage systems and data centers for AI training and HPC. Independent Chairman Brian Howlett sees him as an "invaluable resource" for aggressive growth in the HPC/AI space.
2. Power, and lots of it: Bitfarms has a robust power pipeline of 1.3 GW, of which over 1 GW of high-caliber potential in Pennsylvania. is located in Pennsylvania. This vast, low-cost energy supply in Pennsylvania is exactly what hyperscalers are looking for.
3. Projects: The company is actively developing the Panther Creek Campus in Pennsylvania for HPC/AI in partnership with T5 Data Centers.
With these steps and strong infrastructure, Bitfarms is extremely well positioned to capitalize on the growing demand for AI infrastructure.
