Bitfarms Reports Q1 2025: Mined 693 BTC with Revenue Surge to $67 Million

Bitfarms, a significant player in the cryptocurrency mining sector, announced its Q1 2025 performance metrics, revealing that the firm successfully mined a total of 693 BTC during the quarter. The direct production cost per Bitcoin was reported at $47,800, while the comprehensive cash cost surged to $72,300, reflecting the complexities of current mining operations. In this quarter, the company divested 428 BTC, contributing to a substantial total revenue of $67 million, marking a notable 33% year-over-year growth. Despite this growth, the mining gross margin experienced a contraction, declining to 43% from 63% in Q1 2024. Such financial figures underscore the ongoing challenges within the crypto mining landscape, impacted by fluctuating energy costs and regulatory environments.