Why Bitfarms Stock Was Going Nuts Monday

Explore Bitfarms, the top traded stock on the TSX, with significant trading volume and a rising share price linked to Bitcoin.

Puja Tayal

Author Bio

Puja Tayal grew up in a small-business family where dinner conversations often centred on working capital and savings. Her early experiences with investing, particularly during the 2008 financial crisis, shaped her approach to understanding markets and evaluating investment opportunities. She began her career at a mutual fund company before moving into investor education and financial writing for asset and wealth management firms. Before joining The Motley Fool, Puja wrote for Market Realist, where she extensively covered the semiconductor industry. Her published work has also appeared in The Indian Express. Puja believes every stock has a story that can help investors understand its potential returns. She combines business analysis with different investing approaches to help investors make informed decisions and align their portfolios with their long-term financial goals. Outside of finance, Puja enjoys long drives, catching up with friends, watching superhero and science-fiction movies, and managing her family portfolio. She also has a keen interest in artificial intelligence and its potential to reshape the world.

Education

Bachelor's degree in Accounting and Finance, University of Mumbai (2007)
CFA Level I

Areas of Expertise

Qualitative company analysis, management strategy, risk assessment, long-term investing, portfolio diversification and rebalancing, dividend reinvestment, cyclical growth opportunities, compounding strategies, growth stocks, and dividend stocks.

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Favorite Investment Quote

"Risk comes from not knowing what you're doing." — Warren Buffett

Published October 7, 2025 9:15 pm EDT

Monday was a bull ride for Bitfarms (TSXV:BITF). It was the most actively traded stock on the TSX with 10.4 million shares exchanging hands. That is almost double its average trading volume of 5.4 million. Most of the trading volume was skewed towards the buy momentum, which drove the share price up 14%.

Bitfarms bull momentum

Bitfarms’ stock price has been reacting to Bitcoin prices since September 28: Bitcoin’s price rose 14.5% while Bitfarms’ share price surged 34% between September 28 and October 6. The stock is sensitive to Bitcoin prices as the company receives most of its revenue from Bitcoin mining.

Bitfarms operates 14 Bitcoin data centres in Canada, the United States, and Paraguay, and earns in BTC for providing hashing power and high-performance computing (HPC)/artificial intelligence (AI) compute capacity.

What happened on Monday?

OpenAI signed an agreement to deploy 6 gigawatts of AMD graphics processing units (GPUs) for AI infrastructure, with 1 gigawatt deployment expected to be completed in 2026. Now, Bitfarms has no direct correlation with AMD or OpenAI. However, the OpenAI-AMD deal created bull momentum in the HPC/AI infrastructure space. This bull momentum, coupled with the BTC price rally, made traders go nuts for Bitfarms stock.