Bitfarms is trading 4.5% down at $4.13 as the stock extends a pullback following its high-profile C$1.8 billion AI and high-performance computing (HPC) data center pivot announcement.
- Traders appear to be taking profits and rebalancing positions after a sharp rally driven by the company's strategic rebranding and shift toward AI infrastructure.
- A modest decline in the price of Bitcoin is providing additional headwinds for the crypto-linked stock.