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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 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.


TSX:BITF - Post by User

Post by kidderpeabodyon Oct 15, 2024 5:51pm
131 Views
Post# 36267172

The Hosting Agreement

The Hosting AgreementBitfarms a few months ago put out a press release claiming to be in the process of buying out a competitor.

All indications are this never happened, but what did happenen was mining equipment destined for another hyped location and millions of dollars was given to this competitor under what was called a "hosting agreement" with 50% of the profits to be given to this competitor.

Someone needs to explain needs why such a deal  was done with shareholders money and assets and 50% of the profits being given to this company.

Bitfarms lost 26 million dollars in the last quarter and given shareholders an accumulated deficit of 315 million. 

https://investor.bitfarms.com/news-events/press-releases/detail/269/bitfarms-enters-into-10000-miner-hosting-agreement-with
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