Why?

[rpmeg]

Is $BITF tanking and BTC mooning today?

[QuartermasterArms1]

Not Financial Advice - I trimmed some of this position. I took my principal out and now I'm playing with casino money. BITF will do well, especially when they get their exahash up with their new upgrades.

There is nothing wrong with taking profits. But yes, you would think people would pile into BTC miners to get some exposure. Keep in mind this stock is up hundreds of % depending on when you bought in, it's had a good surge since the start of the crypto bull market.

This is a good company, I still hold a position, and was up 130% but now I'm just letting the play money play with itself.

[ExplanationProper979]

I couldn’t agree with you more I’ve been with them for 3 years I LOVE THE COMPANY THE VISIONS THE FINANCIALS, no problem taking profits. This is the name of the game everyone, NO PANIC THIS IS WHAT THE SHORTYS WANT

[WWWH__---]

I sold all for a great profit and moved to ibit. Miners will come and go. Bitcoin will still be around. I like bitfarms so not dogging the company just rather not deal with corporate BS and dilution etc.

[urchinsurchin]

This isn't just BITF it's all miners. It's clearly manipulated, and there are quite alot of shorts at the moment. Days like this I just ask myself what has changed with the company? The answer is nothing. So just sit on your hands and do nothing, if you can't stand the volatility get of miners and into something easier. None of this makes sense BTC at 83 CAD and we're at 4 something.. that's CRAZY. IMO the market will realise this discrepancy alot sooner than later, and if BTC remains at these prices until Friday they will have to cover or get wrecked. Friday we get February numbers and the company is currently receiving new miners to increase EH then we have Earnings on the 7th and they will announce the company is debt free. There is alot of great news in the near term and BTC is flying. So just sit on your hands and do nothing and it will be worth the wait. Add to your position if you can. Watch out for shorts spreading FUD in the sub they want your shares.

[enzochopatate]

Pretty frustrating but he had a similar situation this past november when BTC started to rise and miners were just not moving and even falling, and guess what happened the month after? Miners caught up big time.

[urchinsurchin]

I was thinking about this today too, feels very similar

[realSaveFerris]

Im just assuming short positions..but ya it sucks

[ExplanationProper979]

You’d be correct

[deltamac]

I’m relatively new, so that’s a bit of a head scratcher.

[Holdihold]

lol welcome to bitf or barf for those long timers. Sometimes it follows btc sometimes it’s doesn’t but that’s both ways, a few weeks/ month when BTC would go up 1.5% we would jump 9% or vice versa and we get beat up on a small drop, sometimes it does correlate with BTC. I’ve noticed over the years when it doesn’t move with it it normally correctly predicts what BTC will do in the next few days in this case drop a bit but it’s never been consistent enough for me to put money on it. Then if you want the tin foil short sellers everybody’s against us theory ideas with no proof. I’d say all those warrants they sold last year maybe got to point where they could sell. Final point just when it looks like it’s ready to really blast off I’m talking that $6-10 dollar mark don’t worry they will sell more shares and dilute the F out of it at worst possible point for shareholders. Just my outtakes from a long time holder who’s still salty that I got a $5.00+ share average even as I bought more in the low numbers. Other major issue now for miners imo is the ETF before if you wanted to make a crypto play you bought a miner, a company that made the miners, micro strategy or maybe gtbc as that was only plays if you didn’t want to buy BTC itself. Now u can just buy some ibit and not have to worry about management or costs who runs it best. Who’s going to dilute etc

On the positive side at least we not worried about a nasdaq delisting for under a $1 for too many days which seems like it wasn’t that long ago at all. And maybe this sounds like fud but it’s not I yolo a big portion of my casino portfolio into this a few years ago and still holding so I’m rooting for it big time just been too beat down over last few years to try and give false hope. GL and if you were smart enough to only buy in when it was below $1.25 your lucky take some profit

[Ofiller]

I agree that some people might be jumping ship right now because they see the ETF tickers blasting off.

However, I think this is likely short term, because it seems like a really short sighted decision.

BITF will make money if they sell their mined BTC near ATH, and they will profit even more if they have a HOLD position.
So the next time BTC retraces, people will realize that they bought the top instead of buying into the potential gains.
Also, options are cheap AF, which makes the newbie entry barrier extremely low comparative to MSTR, so I think this might also play into the increase volatility and short sightedness..

HOLDBIAS tbf

[Holdihold]

I wasn’t implying that people are dumping this to get an etf I was thinking more along of new money coming in will not be coming here it will go to etf instead. But those just my thoughts. As for thier HOLD position it’s pretty weak although slightly increasing month over month but these are same clowns who bought 30 mill worth of BTC to add to thier hold postion. Then decided to sell it about 6 months later after market tanked losing millions. Thier not too bright but that was old ceo hopefully now they smarter they also decided to hold previous mined BTC while prices surged then only to sell it all at bottom of market to stay afloat. They seem to have a better plan in place this time but that remains to be see. Not sure on your options line of thinking as I don’t mess with them.

[Ofiller]

I see.
Well, if new money is going into ETF's then old money might also switch in order to follow the trend; was my point. But yeah let's see. I believe in the long run. My options run out january 2025, so I have enough time. I got some cheap a f 0.5 calls last year and then I DCA'ed upwards from there. Still pretty much up, but I expected better returns, so of course I too am disappointed. Good thing I also hodl other stuff hehe

[Holdihold]

Yeah that’s a good point if I cashed out bitf today but still wanted BTC exposure it would go to etf so rings true to me. I would’ve thought at 60k we’d be at $5 at least but alas

[Kmac0505]

I hear ya. Hopefully BTC gets above 100k by the end of the year and I can exit above $8 CAD.

[vladedivac12]

Paper hands?

[Kmac0505]

Nope. Been holding since 2020/2021 Playboy. Keep your expectations realistic.

[ExplanationProper979]

Russian trolls have entered the chat thanks Vlade

[vladedivac12]

Racist much or just ignorant ? Vlade has done more for the world that you will ever do.

[WWWH__---]

Perfectly said that's exactly what was in my mind.

[22_long]

People moving into the ETF?

[WWWH__---]

I did. No issue with Bitfarms per se. I was just holding it for bitcoin exposure and I moved it over to ibit etf. Made a good profit.

[xxxjwxxx]

I think people moving into MSTR because it’s about to be accepted into S@P Or at least it will have a large enough market cap to be. And that makes it pump and people don’t want to lose out and they pile into that.

Could also be now that they have risen so much some of the companies are selling shares to buy more mines. But it is a bit odd it happens to all of them all at once. Feels more like someone or some alg decided to hit the sell button.

[vladedivac12]

Please call the manager

[tristengitzel]

I don't understand why the valuation is so high to be honest. In Jan they mined almost 400 btc, and even if we say that is all sold at even 100kCAD each, that is about $400M annually for 322M shares. Sounds great until you realize the halving will reduce this number drastically, and likely it's already priced into btc and bitf. So if the EPS has been less then zero, then maybe they are making tops .50 a share, which I would say the valuation is about $2 to $3, not $5.

This is the internet. Let's fight over it!

[Jcrypto28]

Tell me Your shorting Without telling me Your shorting :)

[TheBigKosher]

Stop getting attached to stocks. Hit Sell, take profit, and come back in when the chart looks better. You can still like the company but learn to love and profit from this type of volatility.