1,000 Bitcoin added to the Ministry of Finance, while BTC drops mining hardware prices remain high-mining Bitcoin messages
1,000 Bitcoin added to the Ministry of Finance, while BTC drops mining hardware prices remain high-mining Bitcoin messages
The global Bitcoin mining company Bitfarms bought the DIP and recorded 1,000 bitcoins in its balance sheet, while the prices for mining hardware remain high. The company's corporate treasury now has more than 4,300 bitcoins.
mining company buys the dip
Bitfarms Ltd. has used the falling Bitcoin price. The listed Bitcoin mining company announced on Monday that it was 1,000. bought btc for its treasury. The announcement details:
In the first week of January 2022, Bitfarms bought 1,000 btc for $ 43.2 million. This increased the btc investments from 30 % to over 4,300 on January 10, 2022.
Bitfarms was founded in 2017 and is a listed company in the USA and Canada. His shares started trading on TSX Venture Exchange (TSX-V) in July 2019 and at the Nasdaq exchange in June 2021. The company has five industrial Bitcoin mining systems in Québec and one in the state of Washington.
"Our corporate strategy at Bitfarms is to accumulate most bitcoins at the lowest costs and in the shortest possible time to help our shareholders," said CEO Emiliano Grodzki. "We continuously optimize our capital allocation."
he stated:
With the immersion btc while the prices for mining hardware remain high, we have used the opportunity to do cash in btc .
Grodzki said: "We are still determined to implement our operational growth strategy and to achieve our goal of 8 Exahash/second until the end of 2022."
Bitfarms announced last week that it dismantled 3,452 bitcoins in 2021. The CEO noticed at the time: "In 2021 we started practically all of our btc production that has strengthened our balance sheet."
What do you think that Bitfarms buy 1,000 bitcoins for his state treasury while the prices for mining hardware are high? Let us know in the comment area below.
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