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.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024