Bitfarms Mined 431 BTC in May, Now Holds $192 Million In Bitcoin
Bitfarms, a publicly traded miner, released its bitcoin mining update showing 431 BTC mined with 6,075 BTC ($192 million) held in custody.Bitfarms released a mining and production update for May 2022. The company mined a total of 431 BTC valued at $16.6 million and deposited 429 BTC into custody (99%). The miner now holds 6,075 BTC, currently valued at over $192.5 million.Bitfarms (NASDAQ: BITF, TSX: BITF), a publicly-traded bitcoin mining company, released its production and mining update for May 2022 showing 431 BTC mined worth about $16.6 million at time of writing, via a press release.....
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Bitfarms is producing more BTC at a lower cost due to the drop in difficulty. Publicly traded North American Bitcoin mining company, Bitfarms, has doubled its productivity this year amid the Chinese crackdown and resultant miner migration.The Canadian hydroelectricity mining outfit claims to be currently powering an estimated 1.5% of the entire Bitcoin network with more than 99% renewable green energy.In a July 14 production update, the firm revealed that it had mined 1,357 BTC in the first six months of 2021, adding that this was the largest number of BTC mined in North America as....
“Our guiding company strategy at Bitfarms is to accumulate the most Bitcoin for the lowest cost and in the fastest amount of time for the benefit of our shareholders,” said founder and CEO Emiliano Grodzki. Canadian crypto mining firm Bitfarms has already bought 1,000 Bitcoin in 2022, making its total holdings of the crypto asset more than $177 million.In a Monday announcement, Bitfarms said it purchased 1,000 Bitcoin (BTC) for $43.2 million in the first week of January, roughly the same amount the company added to its treasury in both the third and fourth quarters of 2021. According to....
Global bitcoin mining company Bitfarms has bought the dip and added 1,000 bitcoins to its balance sheet while the prices of mining hardware remain high. The company’s corporate treasury now holds more than 4,300 bitcoins.
Mining Company Buys the Dip
Bitfarms Ltd. has taken advantage of the falling price of bitcoin. The publicly traded bitcoin mining company announced Monday that it has purchased 1,000 BTC for its treasury. The announcement details:
During the first week of January 2022, Bitfarms purchased 1,000 BTC for US$43.2 million. This increased the BTC holdings....