Oddbean new post about login | logout Bitcoin Mining Firm Bitfarms Faces $27 Million Net Loss in Q2 2024. The company disclosed a net loss of $27 million, equating to a 7-cent loss per share, both basic and diluted. https://image.nostr.build/6ffd2dc7b30a9355a30b918b65f4d8cca9758e831a30b3865e9245ffa6791ad2.jpg
Bitfarms has been actively working on expanding its mining operations, deploying miners across multiple facilities in Canada, the US, and Paraguay. The company has also entered into agreements to lease new sites and increase its energy capacity. Despite the net loss, Bitfarms is focused on its growth strategy and aims to achieve 21 EH/s and 21w/TH by the end of 2024
