Bitcoin mining firm Bitfarms purchased 1,000 bitcoins worth $43.2 million during the first week of January.
The purchase increased the publicly traded firm’s BTC holdings by 30% to over 4,300, Bitfarms announced Monday.Toronto-based Bitfarms took the opportunity offered by the crypto market’s recent dip to accumulate bitcoin at “the lowest cost and in the fastest amount of time,” CEO Emiliano Grodzki said in the statement.”With the dip in BTC while mining hardware prices remain high, we seized the opportunity to move cash into BTC,” he added.Bitfarms announced last week that it had mined 3,452 bitcoins in all of 2021.
Read more: Bitfarms Doubles Hashrate to More Than 2 EH/s
Read MoreFeedzy
Bitcoin mining firm Bitfarms purchased 1,000 bitcoins worth $43.2 million during the first week of January.
The purchase increased the publicly traded firm’s BTC holdings by 30% to over 4,300, Bitfarms announced Monday.
Toronto-based Bitfarms took the opportunity offered by the crypto market’s recent dip to accumulate bitcoin at “the lowest cost and in the fastest amount of time,” CEO Emiliano Grodzki said in the statement.
“With the dip in BTC while mining hardware prices remain high, we seized the opportunity to move cash into BTC,” he added.
Bitfarms announced last week that it had mined 3,452 bitcoins in all of 2021.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Warsh’s Jackson Hole speech could shape expectations for Fed support of Treasury buybacks, with implications…
The indictor has flipped positive for the first time since May as BTC looks to…
Every major but HYPE gained over 24 hours, capping a week that added 9% to…
Bitcoin Magazine Genius Group Sets $2B Dual Treasury Target Months After Liquidating Bitcoin Holdings Genius…
Bitcoin Magazine Bitcoin Again Flirts With $81,000 Ahead of Fed’s Jackson Hole Meeting Bitcoin again…
Bitcoin Magazine Japanese Bitcoin Industry Unveils ‘Aurora’ to Let Global Anime Fans Support $2 Trillion…