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Bitfarms | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC ·  Aug 2 04:02

Summary by Moomoo AI

On August 1, 2024, Bitfarms Ltd., a global Bitcoin mining data center company, filed a material change report with the Canadian Securities Regulatory Authorities and the United States Securities and Exchange Commission. The report included a press release detailing the company's July 2024 production and operations update. Bitfarms earned 253 BTC in July, increasing their Bitcoin holdings to 1,016 BTC and raised their operational hashrate to 11.1 EH/s. CEO Ben Gagnon highlighted the company's growth since the April halving event, with a 62% increase in Bitcoin mined per month. Operational challenges were addressed, including the replacement of underperforming miners by Bitmain at no cost to Bitfarms. CFO Jeff Lucas confirmed that the company's growth and efficiency plans are fully funded, with sufficient liquidity...Show More
On August 1, 2024, Bitfarms Ltd., a global Bitcoin mining data center company, filed a material change report with the Canadian Securities Regulatory Authorities and the United States Securities and Exchange Commission. The report included a press release detailing the company's July 2024 production and operations update. Bitfarms earned 253 BTC in July, increasing their Bitcoin holdings to 1,016 BTC and raised their operational hashrate to 11.1 EH/s. CEO Ben Gagnon highlighted the company's growth since the April halving event, with a 62% increase in Bitcoin mined per month. Operational challenges were addressed, including the replacement of underperforming miners by Bitmain at no cost to Bitfarms. CFO Jeff Lucas confirmed that the company's growth and efficiency plans are fully funded, with sufficient liquidity for infrastructure and miner procurement. The company sold 142 BTC in July as part of its treasury management, adding 111 BTC to its holdings. Bitfarms' upcoming events include a Q2 2024 conference call and participation in investment conferences. The company operates 12 Bitcoin data centers with two under development across four countries, focusing on environmentally friendly and sustainable energy use.
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