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

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Post by zoevans1on Feb 09, 2023 11:51am

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Post# 35277328

Continually impressed by the leadership of this company

Bitfarms has modified its loan agreement with BlockFi, to settle all outstanding principal and interest due totaling $21 million for a single cash payment of $7.75 million

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"Combined with the earlier restructuring and elimination of our capital expenditure obligations, this successful negotiation and settlement furthers our initiatives to reduce indebtedness, enhance liquidity and increase financial flexibility in line with today’s market conditions"

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