09:20 AM EDT, 07/22/2025 (MT Newswires) -- Bitfarms ( BITF ) , a global energy and compute infrastructure company, on Tuesday rose 9.7% in U.S. pre-market trade after its board approved the commencement of a corporate share buyback program.

The Toronto Stock Exchange approved its notice to establish a normal course issuer bid program. Bitfarms ( BITF ) is authorized to buy back up to 49.9 million of its common shares, representing up to 10% of its public float of 499.4 million common shares, during the period starting July 28, and ending on July 27, 2026.

"We strongly believe our unique and highly desirable energy portfolio in Pennsylvania will drive long-term, sustainable growth that is financeable and enables management to leverage its balance sheet strength to drive shareholder value with this buyback program while simultaneously pursuing growth opportunities in HPC/AI to best capitalize on our substantial US energy pipeline," said Bitfarms ( BITF ) Chief Executive Ben Gagnon.

The company has also entered into an automatic repurchase arrangement with its designated broker to allow for purchases of its common shares during certain pre-determined blackout periods.

U.S.-listed shares of the company were last seen up US$0.11 at US$1.24 in pre-market trade.