Bitfarms Ltd. (TSE:BITF) has released an update.
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Bitfarms Ltd. has reported a strong first quarter in 2024 with a 67% year-over-year revenue increase, securing an additional 24,000 miners, and achieving a current hashrate of 7.0 EH/s. The company is on track to reach its 2024 goal of 21 EH/s hashrate and improved mining efficiency, while also doubling its power capacity at a Paraguayan site for future growth. A recent tax refund decision is set to enhance the firm’s financial flexibility and support its aggressive expansion plans.
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