Bitfarms is trading at $4.57 (5% down) on profit-taking and consolidation following a sharp multi-day rally driven by a recent analyst upgrade.
- The stock had surged nearly 20% since July 17, fueled by BTIG Research’s strong-buy rating and $8 price target on Keel Infrastructure, formerly Bitfarms.
- Today's pullback is exacerbated by modest weakness in the broader cryptocurrency market, with Bitcoin and Ethereum both trading slightly lower versus their previous close.