Bitfarms Ltd T.BITF

Alternate Symbol(s): BITF

Technology Software - Application

Bitfarms Ltd. is a Canada-based global vertically integrated bitcoin mining company. The Company develops, owns, and operates vertically integrated mining farms with in-house management and Company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers operational performance and uptime. The Company operates through the cryptocurrency mining segment. The Company operates server farms comprised of computers (Miners) designed for the purpose of validating transactions on the Bitcoin (BTC) Blockchain (Mining). The Company also operates Miners about 24 hours a day producing computational power (measured by hashrate) which it sells to Mining Pools under a formula-driven rate commonly known as Full Pay Per Share (FPPS). The Company has 11 farms, which are located in four countries: Canada, the United States, Paraguay, and Argentina.

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Bitfarms Ltd > Someone should do this

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Comment by MAZZMEXon Oct 26, 2020 9:16am

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Post# 31780481

RE:RE:Someone should do this

HUT is piling some bitcoin but BITF are selling as they mine to finance expansion...

MrAcc0untant wrote: Now this company is giving me a bit of a scare. I went through all the Financials and they wont give a balance of the crypto they hold. As per old financials, they did NOT hold ANY cryptocurrency as on December 31, 2019. They have mined around 1900 BTC upto June 30, 2020. And in those financials as well, I dont see anything that shows how many BTCs they are holding.

They are either selling all BTCs or this is some really bad reporting.

I checked financials for HUT8, and they have way better reporting. All digital assets are disclosed by the number and even value.

I hope we are not being scammed out by Bitfarms

Redflags - They keep changing auditors, They keep changing Top Management, Cryptocurrency mining company not reporting cryptocurrency balance.

Disclosure - I own Bitfarms and have no investment in HUT8, but All this is going to make me reconsider.