Bitfarms' shares started trading on the Nasdaq stock exchange on 21 June. Bitcoin plunged 8 per cent and its value fell 7.3 per cent.
The opening price on the Nasdaq for shares traded under the BITF ticker was $4.04. This was 4.5% below the closing level in over-the-counter trading the day before.
Having fluctuated between $3.9 and $4.1 during the session, they ended trading at $3.96 (-7.3%).
A rebound in the cryptocurrency market on 22 June allowed Bitfarms shares to gain 3.5%, to $4.1, and be above the initial price on Nasdaq.
Bitfarms shares are also traded on the Toronto Stock Exchange.
In a June 10 production report, the company highlighted the positive impact of the Chinese authorities' campaign against local miners. Bitfarms has increased its hash rate and received higher transaction fees. With the same computing power and operating costs, the company was able to earn more coins.
Bitfarms CEO Emiliano Grodsky said in an interview with Decrypt that mining companies are "more reliable" than those that hold the first cryptocurrency on their balance sheet, regardless of market conditions.
