Author: Amy Liu

Canadian Bitcoin miner Bitfarms has been approved to be listed on the Nasdaq Global Market under the ticker symbol BITF.

The Nasdaq stock market is currently divided into three levels, each with different capital and financial requirements. Need greater financial and greater cash flow is Nasdaq Global Select, followed by Nasdaq Global Market and Nasdaq Capital Market.

The Nasdaq global market has four sets of initial listing standards, and the listing threshold is between the global select market and the capital market in order to attract medium-sized companies. Other crypto mining companies currently listed on NASDAQ include Hut8, Riot, Marathon Digital Holdings, etc.

Founded in 2017, Bitfarms is a Bitcoin mining company that conducts on-site technical maintenance, proprietary data analysis, and electrical engineering and installation services through a vertically integrated mining business. Started trading on TSX-V (Toronto Stock Exchange Growth Enterprise Market) in July 2019.

Bitfarms has a diversified production platform and five industrial-scale facilities in Quebec. Each facility is 100% powered by environmentally friendly hydropower and has signed a long-term power contract. The company claims that Bitfarms is currently the only publicly traded pure mining company audited by the four major auditing companies.

Once Bitfarmers’ stocks are electronically settled (the last step in the listing process), these stocks can be traded.

The listing of Bitfarms marks the increasing legitimacy of the Bitcoin mining industry and Bitcoin itself.

Bitfarms CEO Emiliano Grodzki said: “Approval of listing on the Nasdaq Global Market is an incredible achievement for Bitfarms, the result of years of work and dedication. In the past four years, we have successfully established and Operating one of the world’s largest Bitcoin mining operations, we will be listed on one of the most prestigious exchanges in the world, and significantly expand our company’s market scope. For the company and our shareholders, we have I am very proud of an important milestone. I want to thank the Bitfarms team and all our consultants and professionals for their unremitting efforts to make this possible.”