Canadian bitcoin miner Bitfarms has been approved for listing on the Nasdaq Global Market under the ticker symbol BITF.
The Nasdaq Stock Market is currently divided into three tiers, each with different capital and financial requirements. Requiring greater financials and greater cash flow is the Nasdaq Global Select, followed by the Nasdaq Global Market and the Nasdaq Capital Market.
The NASDAQ Global Market has four sets of initial listing criteria with listing thresholds between the Global Select Market and the Capital Market to attract mid-size companies. Other crypto miners currently listed on Nasdaq include Hut8, Riot, Marathon Digital Holdings and others.
Founded in 2017, Bitfarms is a bitcoin mining company that performs on-site technical maintenance, proprietary data analysis, and electrical engineering and installation services through a vertically integrated mining operation. It began trading on the TSX-V (TSX Venture Exchange) in July 2019.
Bitfarms has a diversified production platform and five industrial-scale facilities in Quebec. Each facility is 100% powered by environmentally friendly hydroelectricity and has long-term power contracts, and the company claims that Bitfarms is currently the only publicly traded, pure-play mining company audited by a Big Four auditing firm.
Once Bitfarmers’ shares have been electronically cleared (the final step in the listing process), these shares will be available for trading.
The listing of Bitfarms marks the growing legitimacy of the Bitcoin mining industry along with Bitcoin itself.
Emiliano Grodzki, CEO of Bitfarms, said, “The approval to list on the NASDAQ Global Market is an incredible achievement for Bitfarms and is the result of years of work and dedication. After successfully building and operating one of the largest bitcoin mining operations in the world over the past four years, we will be listing on one of the world’s most prestigious exchanges and significantly expanding our company’s market reach. We are extremely proud to have reached this important milestone for the company and our shareholders. I would like to thank the team at Bitfarms and all of our advisors and professionals for their tireless efforts to make this possible.”
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/canadian-bitcoin-miner-bitfarms-approved-for-listing-on-nasdaq-global-market/
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