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- Bitfarms (NASDAQ:BITF) earned 286 bitcoins in March 2024, down from the 300 it earned in February and the 424 it earned in March 2023, the company said on Monday.
- Meanwhile, it sold 284 bitcoins last month, compared with 300 sold in February and 394 sold in March 2023.
- The bitcoin miner, though, is bolstering its capacity as the industry heads toward the “halving” event expected later this month. Bitfarms (BITF) exercised in March its purchase option for 28,000 Bitmain T21 miners and purchased an additional 19,280 T21 miners, along with 3,888 Bitmain S21 miners and 740 Bitmain S21 hydro miners.
- “Together, with our 35,888 Bitmain T21 purchases and farm expansions announced in November, these new 87,796 miners are sufficient to reach 21 EH/s by year-end, with greater operating efficiency,” President and CEO Geoff Murphy said.
- Bitfarm (BITF) stock rose 0.9% in early Monday trading.