Bitfarms sold nearly all the Bitcoin it mined over the past two months as it continues to reinvest into growing its fleet of Bitcoin mining equipment.
Bitfarms holds $66 million in cash and 806 BTC in its treasury, giving it a total liquidity of $123 million.) mining company Bitfarms will invest nearly $240 million to upgrade its Bitcoin mining equipment as it aims to remain profitable after the
Bitfarms previously purchased 35,888 of Bitmain’s Bitcoin Miner T21. Other efforts include exercising a purchase option to acquire an additional 28,000 T21 miners and further purchases of 19,280 Bitmain T21 miners, 3,888 Bitmain S21 miners and 740 Bitmain S21 hydro miners.In March 2023, the firm mined 424 BTC with 4.8 EH/s — indicating the importance of increasing hash rate capacity to stay profitable in Bitcoin mining.
Bitfarms holds $66 million in cash and 806 BTC in its treasury, worth $56.7 million at a BTC price of $70,400 as of March 31, giving it a total liquidity of $123 million.
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