Here's Why Bitfarms Slumped More Than 8% Today

As of 3:30 p.m. ET, Bitfarms (NASDAQ: BITF) is actually among the better-performing cryptocurrency mining stocks in the market. That's not saying much, considering this token declined 8.5% from yesterday's close.What's interesting about Bitfarms is the company's all-out transition toward becoming a pure-play provider of compute. By providing its GPU and data infrastructure to high-performance computing and AI companies, Bitfarms aims to reinvent itself as an AI company, rather than a Bitcoin (CRYPTO: BTC) mining operation.Thus far, this transition has resulted in impressive year-to-date returns of over 60%. Let's dive into why investors are selling the rip in this popular name, which was a focal point in the digital assets sector.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool