2 years ago
Bitcoin (BTC) mining steadfast Bitfarms said its accumulation decreased 10.6% to 379 BTC successful April contempt its firm hashrate increasing by 4% to 5.0 EH/s.
Of the mined BTC, the miner sold 349 units of the assets to make $10.1 million, adding that it reduced its indebtedness by $2 million, leaving a equilibrium of $19 cardinal arsenic of April 30.
According to the May 1 statement, Bitfarms said it was currency travel affirmative successful April owed to the improved mining economics. The crypto institution noted a nett summation of 30 BTC to its treasury successful April — bringing its full to 465 BTC ($13.6 million).
Source: BitfarmsBitfarms regain compliance with Nasdaq
Bitfarms said it had regained compliance with Nasdaq listing requirements, according to a May 1 statement.
In December 2022, Nasdaq told Bitfarms that its communal banal nary longer complied with the minimum bid terms request of $1.00 implicit the erstwhile 30 consecutive trading days. The steadfast risked its banal being delisted if it failed to commercialized supra $1 for astatine slightest 10 days successful the adjacent six months.
However, Bitfarm said Nasdaq determined that its banal traded supra the $1 benchmark for 13 consecutive days betwixt April 11 and April 27. During the period, Bitfarms banal traded betwixt $1.10 and $1.25, according to Google Finance data.
The banal is trading for $1.14 aft falling 2.16% successful the past 24 hours.
Bitfarms 6.0 EH/s maturation people connected course
Despite the declined monthly BTC production, Biftarms CEO Geoff Morphy said the institution is connected people to conscionable its 6.0 EH/s maturation people for 2023 arsenic its cognition successful Argentina is present “fully permitted.”
Morphy said:
“Our backstage powerfulness shaper successful Argentina is present afloat permitted to supply up to 100 MW, and we are capable to statesman purchasing powerfulness nether this statement astatine prices expected to beryllium beneath $0.03 per KWh. With the permitting milestone achieved, we are positioned to grow successful Rio Cuarto with sourced powerfulness costs that should trim our mean outgo of powerfulness and recognize our maturation people of 6.0 EH/s successful 2023.”
The main mining serviceman of the firm, Ben Gagnon, pointed retired that the company’s acquisition of an “additional 650 PH/s of caller Bitmain and MicroBT miners” would summation its full hashrate by 13% wrong the coming months.
Besides that, Morphy revealed that the institution has entered into agreements to get 22 MW of hydropower capableness successful Quebec. This statement would assistance to thrust its maturation and its renewable vigor portfolio.
The station Bitfarms Bitcoin accumulation declined 10% successful April contempt hashrate growth appeared archetypal connected CryptoSlate.
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