Bitfarms announced its Q1 2025 financial results, reporting revenue of $67 million, a 33% increase compared to last year's quarter. However, despite this growth, the company’s gross mining margin dropped sharply to 43%, down from 63% in Q1 2024, reflecting a 20-point decline driven by rising production costs. The total ...
Bitfarms Ltd. has signed a binding Letter of Intent (LOI) to sell its 200 MW Bitcoin mining site in Yguazu, Paraguay, to HIVE Digital Technologies Ltd. The deal, valued at $85 million, is set to close in the first quarter of 2025. Under the agreement, Bitfarms will receive $25 million ...
Bitcoin Miner Bitfarms has published its financial results for Q2 2024, revealing a mixed picture of operational progress and financial challenges. The company reported a total revenue of $42 million, marking a 16% decrease from the previous quarter and falling short of analyst expectations. Bitfarms attributed this decline primarily to ...
Bitfarms, a major Bitcoin mining company, has reportedly named Ben Gagnon as its new Chief Executive Officer (CEO). The announcement, made on Monday, comes at a crucial time as the company faces a dispute with its largest shareholder, Riot Platforms, and undergoes a strategic review. This appointment follows a turbulent ...
Bitcoin miner Riot Platforms has withdrawn its initial offer to acquire its Canadian rival, Bitfarms. However, according to a release published Monday, June 24, Riot is now pushing for a reconstitution of Bitfarms' board. Riot has proposed a Special Meeting to allow Bitfarms shareholders to vote on the removal of ...
Bitcoin mining company Bitfarms has announced its plan to build a 120-megawatt mining infrastructure in the United States. The Bitcoin mining giant shared this development in a press release today, June 13, 2024. According to the release, the site where the infrastructure would be built, Sharon, Pennsylvania, is located in ...
Riot Platforms' $950 million buyout offer for Canadian Bitcoin miner Bitfarms has been met with strong resistance. Bitfarms' stakeholders and special committee deemed the offer undervalued and not in the best interests of shareholders. This has escalated into a battle for ultimate ownership between the two Bitcoin mining companies. Bitfarms ...
