Bitcoin mining company Bitfarms has announced a share buyback program, allowing the repurchase of up to 49.9 million common shares, or 10% of its public float, over the next 12 months. The Toronto Stock Exchange approved the buyback program, with shares on Nasdaq closing up 16.8%.

The daily purchase limit on TSX is 494,918 shares, and on Nasdaq, total repurchases cannot exceed 5% of outstanding shares over the program period. The buyback period runs from July 28, 2025, to July 27, 2026, with all repurchased shares being canceled.

Bitfarms rebrands itself as an AI and HPC company, pivoting from Bitcoin mining to power AI applications and expanding in the United States to hedge against potential trade wars. The company reported a $36 million net loss in Q1 2025 and secured a $300 million credit line to expand an HPC facility in Pennsylvania.

Read more at Cointelegraph: Bitfarms Launches Share Buyback Amid Pivot To AI and HPC Infrastructure