The bitcoin miner plans to repurchase up to 49.9 million shares over the next year as it pivots to high-performance computing and AI infrastructure. Bitcoin mining company Bitfarms has announced a share buyback program, authorizing the repurchase of up to 49.9 million common shares, or 10% of its public float, over the next 12 months. The Toronto Stock Exchange (TSX) approved the buyback program, and covers repurchases on both the TSX and Nasdaq, according to an announcement on Tuesday. The company’s shares on Nasdaq closed up 16.8%. The daily purchase limit on TSX is capped at 494,918 shares, or 25% of the average daily trading volume for the past six months. On the Nasdaq, total repurchases cannot exceed 5% of outstanding shares over the program period. Read more
Bitcoin holds firm above $115,000 as resilient buyers absorb sell pressure, setting the stage for a potential breakout to new highs. Key takeaways: Bitcoin’s sideways trading results from Binance taker volume turning negative, and the US and Korean BTC premium index showing weak spot demand. BTC holding above $115,000 and strong buyer absorption near this level shows bulls are committed to pushing Bitcoin price to new highs. Read more
A survey conducted by the National Cryptocurrency Association explored why some people aren’t comfortable investing in digital assets. A new report released Tuesday reveals that lack of information remains a major barrier to digital asset adoption among US consumers. The study, commissioned by the National Cryptocurrency Association (NCA), found that nearly 70% of 2,000 non-crypto holders surveyed said they needed more information before they would consider using digital assets. About half of those polled said they lacked understanding about how crypto works, while many others expressed concerns about security and fraud, as well as the individuals behind projects. The survey found that 34% of participants were open to learning more about digital assets. Read more