100%: Public Bitcoin miners sold almost everything they mined in 2022
Publicly listed Bitcoin (BTC) miners sold off almost all of the Bitcoin they mined throughout 2022, leading to a debate over whether the sales created “a persistent headwind” for the Bitcoin price or not. Analyst Tom Dunleavy from blockchain research firm Messari shared the data in a Dec. 26 tweet, indicating that approximately 40,300 of the […]
Bitfarms sold 3K Bitcoin as part of strategy to improve liquidity and pay debts
Canadian crypto mining firm Bitfarms sold roughly $62 million worth of Bitcoin (BTC) in June, using the proceeds from the sale to reduce its debt. In a Tuesday announcement, Bitfarms said it had sold 3,000 Bitcoin in the last seven days, roughly 47% of the crypto mining firm’s roughly 6,349 BTC holdings. According to the […]
Bitfarms purchased more than $43M in Bitcoin to start the new year
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 […]
Bitfarms expands to US, plans green crypto mining operation in Washington
Canadian Bitcoin mining company Bitfarms is planning to build its first data center in the United States following the purchase of a land plot in Washington State. In a Nov. 11 announcement, Bitfarms said it aimed to establish mining operations in the U.S. capable of 620 petahashes per second using 6,200 Bitmain rigs fully powered […]
Bitfarms estimates Argentinian facility will reduce BTC mining costs by 45%
Canadian Bitcoin mining firm Bitfarms has updated its plans for expansion in South America, revealing it has secured an eight-year contract to draw up to 210 megawatts, or MW, of electricity for $0.022 per kilowatt-hour, or kWh. According to an April 19 announcement, Bitfarms has made significant progress in solidifying the terms for its Argentinian […]
Bitfarms set to acquire 48,000 new miners in 2022 despite chip shortage
One of the largest publicly traded Bitcoin mining operations in the world, Bitfarms, has undertaken to purchase 48,000 new miners over the next two years. The Canadian mining company has sourced the equipment from Chinese supplier MicroBT in a bid to increase its hashing capacity by another 5 EH (exahashes) according to reports. Bitfarms was […]