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Bullboard - Stock Discussion Forum Bitfarms Ltd T.BITF

Alternate Symbol(s):  BITF

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... see more

TSX:BITF - Post Discussion

Bitfarms Ltd > Bitfarms barks back at "misinformation" on power deals
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Post by FirstClass on Nov 04, 2022 11:01am

Bitfarms barks back at "misinformation" on power deals

 

Bitfarms barks back at "misinformation" on power deals

 

2022-11-04 07:49 ET - News Release

 

An anonymous director reports

BITFARMS RESPONDS TO ERRONEOUS ARTICLE, ADVISING THAT CURRENT HYDROELECTRIC ENERGY AGREEMENTS REMAIN IN PLACE; CURRENT AND FUTURE PRODUCTION CONTINUES

Bitfarms Ltd.'s power agreements with Hydro-Quebec remain in place. The company expects that its current and future bitcoin production will continue for the foreseeable future without disruption.

Bitfarms notes that erroneous information was disseminated in a Nov. 3, 2022, article titled "Canadian Energy Provider Hydro-Quebec Proposes Stopping Electricity Supply to Blockchain Industry," resulting in misinformation spreading quickly through media networks and on social media. The article mischaracterized Hydro-Quebec's recently submitted 10-year supply plan in stating that the plan advocated the termination of electricity to existing mining operations.

Bitfarms has invested over $350-million in Quebec since its inception and currently employs over 100 employees. The company continues to look to expand its operations in Quebec and add more jobs across the region. As such, Bitfarms believes it is necessary to respond to the article's false implications.

About Bitfarms Ltd.

Founded in 2017, Bitfarms is a global, publicly traded bitcoin self-mining company. Bitfarms runs vertically integrated mining operations with in-house management and company-owned electrical engineering, installation service and on-site technical repair. The company's proprietary data analytics system delivers best-in-class operational performance and accelerated uptime.

Bitfarms has 10 mining facilities in operation and development production around the world, which are housed in four countries: Canada, the United States, Paraguay and Argentina. Powered by predominantly environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using renewable, locally based and often-underutilized energy infrastructure.

We seek Safe Harbor.

© 2022 Canjex Publishing Ltd. All rights reserved.

Comment by goldsucks on Nov 04, 2022 12:13pm
Forseeable future.......1 week, 2 weeks?  Management knew about this , thats why they were dumping their shares with Emiliano selling over 2 mil. shares on the open market. Crooks run for the hills letting retails burn with the ship.
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