Bitfarms Launches Share Buyback Program To Repurchase Up To 50 Mln Shares; Stock Up In Pre-market

(RTTNews) - Bitfarms Ltd. (BITF), an energy and compute infrastructure company, on Tuesday announced that its Board of Directors has approved the immediate launch of a corporate share buyback program of up to 49.94 million.

The buyback period will run from July 28 to July 27, 2026.

Under the Program, the company is authorized to repurchase up to 49,943,031 of its common shares, representing 10% of its 499,430,313-share public float, from the total 557,548,857 shares outstanding as of July 14.

The Toronto Stock Exchange (TSX) has accepted the company's notice to initiate a normal course issuer bid program.

On the TSX, daily purchases are limited to 494,918 shares unless using the block purchase exception. On the Nasdaq, total buybacks during the program cannot exceed 5% of the total shares at the start of the program. All repurchased shares will be cancelled.

Purchases will follow TSX and Nasdaq rules, and Bitfarms will pay the market price at the time of purchase, or another price allowed by the exchanges.

As part of the Program, Bitfarms has set up an automatic repurchase arrangement with its broker to allow share buybacks during pre-set blackout periods, based on instructions given outside of those periods.

In the pre-market trading, Bitfarms is 7.07% higher at $1.2100 on the Nasdaq.