Canadian Bitcoin Miner Bitfarms Approved for Nasdaq Global Market Listing
Bitfarms, a Canadian bitcoin miner, has been approved to list its common stock on the Nasdaq Global Market.
May 7, 2021 at 8:53 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/E4EXZJCTARGJJAZDFKY5EPQFV4.jpg)
Cryptocurrency mining rigs sit on racks at a Bitfarms facility in Saint-Hyacinthe, Quebec, Canada.
Toronto-based bitcoin miner Bitfarms will soon be coming to the Nasdaq exchange.
Nasdaq has approved the company's common stock listing under the ticker BITF on the Nasdaq Global Market, according to a press release. Nasdaq's market has three tiers that each feature different levels of capital and financial requirements. The tier requiring higher financial levels and larger cash flows is the Nasdaq Global Select, followed by Nasdaq Global Markets and Nasdaq Capital Market.
Bitfarms stock on the TSX Venture Exchange, formerly listed as BFARF, will adopt the new ticker.
Once Bitfarms shares are cleared for electronic settlement (the last step in the listing process), the shares will be live for trading.
Bitfarms listing is emblematic of the increasing legitimacy the bitcoin mining industry has experienced lately alongside bitcoin itself.
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