Our valuation framework previously suggested that BITF was deeply undervalued and was lagging behind its peers (MARA, RIOT, and Core Scientific). We gave Bitfarms a price target of $8.50.BITF was dormant for the entire 2021 until it finally entered its long-overdue price discovery phase, which led it to become the best-performing Bitcoin company in YTD.As BITF is approaching our price targets, this article aims to break down BITF's run-up and update our readers with our next course of action.
