Bitfarms Mined 943 BTC, Net Loss of $24 Million in Q1

IconCNT15 May, 2024

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Bitfarms Mined 943 BTC, Net Loss of $24 Million in Q1

**Bitfarms Mined 943 BTC in Q1, Revenue of About $50 Million** Bitcoin mining company Bitfarms has announced its Q1 results, revealing that it has mined a total of 943 BTC in the first quarter. Out of the total amount, 941 BTC was sold, resulting in a revenue of approximately $50 million for the quarter. However, the company also reported a net loss of $24 million for the period. Bitfarms' hash rate for the first quarter was 7.0 EH/s, producing an average of 10.4 BTC per day. **Previously on [Date],** Bitcoin mining company Bitfarms announced its Q1 results, revealing that it has mined a total of 943 BTC in the first quarter. Out of the total amount, 941 BTC was sold, resulting in a revenue of approximately $50 million for the quarter. The company also reported a net loss of $24 million for the period.

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