Bitfarms Ltd. (NASDAQ: BITF // TSX: BITF), a vertically integrated global bitcoin company, has released its financial results for the second quarter ended June 30, 2023.
Bitfarms successfully mined 1,223 BTC in the second quarter of 2023, bringing its total holdings to 549 BTC, an increase of 114 BTC. The corporation set a future aim of 7.0 EH/s for Q1 2024 when its hashrate as of June 30, 2023, hit 5.3 EH/s, an increase of 10% from March 31, 2023. According to reports, Q2 2023 revenue increased from the prior quarter’s $30 million to $35 million. Despite the rise in sales, the company’s net loss increased significantly from $2 million in Q1 2023 to $25 million, a huge loss. …
Read more…….
Be the first to comment