Bitfarms Reports December 2024 Update: Bitcoin Mining Production at 211 BTC Amid Yearly Decline

In a recent announcement, Bitcoin mining firm Bitfarms revealed its monthly production statistics for December 2024. The company efficiently mined 211 BTC, marking a modest 2% month-over-month increase, although this reflects a significant 53% decline year-over-year. Throughout the year, Bitfarms successfully accumulated a total of 4,928 BTC, demonstrating its resilience during a challenging market landscape. Furthermore, Bitfarms executed treasury management by selling 147 BTC from its monthly output, which contributed to the firm’s overall revenue of $14.3 million. As of December 31, 2024, Bitfarms reported total liquid assets of approximately $147 million, including a liquid cash position of about $60 million. Impressively, the company enhanced its treasury reserves by adding 64 BTC, leading to a cumulative balance of 934 BTC, valued at roughly $87.8 million.