Bitfarms faces setbacks in meeting its mid-year 12 EH/s hash rate target due to equipment delivery delays and miner servicing needs. Despite these challenges, the company is focused on improving logistics and supplier collaboration to boost its mining capacity and maintain its market position.
Bitfarms has signed an agreement with Stronghold Digital Mining to deploy 10,000 Bitmain T21 miners at their Panther Creek facility, accelerating their operational capacity by ~2.2 EH/s. This move will boost Bitfarms' hash rate growth and competitiveness, helping them reach a target of 21 EH/s by year-end.
Bitfarms achieved an energy efficiency of 21 w/TH, three months ahead of schedule, enhancing profitability and paving the way for further expansion.
Bitfarms has significantly increased its U.S. operations by acquiring a large-scale mining site in Pennsylvania, expanding its power capacity from 20 MW to 140 MW.
Bitfarms reports Q2 2024 financial results, showing a revenue increase but a net loss of $27 million due to Bitcoin halving and higher costs. The firm expands its mining capacity and plans further growth.
Bitfarms announces leadership changes amidst ongoing conflict with Riot Platforms, appointing CEO Ben Gagnon to the board and accepting the resignation of co-founder and chairman Nicolas Bonta.
Bitfarms reported a $27 million net loss in Q2 2024 due to increased Bitcoin production costs, despite expanding its mining capacity. Revenue dropped by 16% from Q1 to $42 million. The company plans further growth, particularly in the U.S. and South America, while diversifying into HPC and AI hosting.
Bitfarms Ltd. appoints Ben Gagnon as CEO, recognizing his significant contributions over five years as Chief Mining Officer.
Bitfarms appoints Ben Gagnon as CEO amid a takeover battle with Riot Platforms. Gagnon aims to diversify into energy and AI sectors.
Bitfarms appoints Ben Gagnon as CEO during a hostile takeover attempt by Riot Platforms, marking a significant leadership shift.
Canadian Bitcoin miner Bitfarms appoints Ben Gagnon as CEO amid a takeover bid from rival Riot Platforms.
Bitfarms appoints Ben Gagnon as CEO.
