Post by
Bac0n on Apr 16, 2021 10:30am
BITF ANNOUNCEMENT, NASDAQ, Coin Holdings, Miner Orders
WOW! fantastic news from Bitfarms! 650 Bitcoin in reserve already! soon to be over 1,000!
Their overhead is so low they can bank the vast majority of their coins.
AND for their NASDAQ uplisting, they are finishing FORM 40-F!!!
this is the last form for NASDAQ uplisting, Canadian companies that are trading in USA securities need it just prior to being listed.
Congrats to all the BITF longs! NASDAQ uplisting imminent!
NASDAQ:
The Company has been continuing to actively move forward with a Nasdaq listing process. Having filed our 2020 Annual Information Form, we are now finalizing for submission our SEC Form 40-F, an important milestone towards our U.S. listing on the Nasdaq.
*puffs cigar*
-Bac0n
Bitfarms Announces Hashrate Growth, Bitcoin Inventory and Stock Market Listing Updates Toronto, Ontario and Brossard, Qubec (April 16, 2021) - Bitfarms Ltd. (“Bitfarms”, or the “Company”) (TSXV:BITF // OTC:BFARF), one of the largest, oldest and most costeffective public Bitcoin mining operations in the world, today announces a number of corporate developments. New Miner Purchases The Company has recently completed two purchases of new-generation mining equipment manufactured by MicroBT to be installed through August. When deployed, the 1,996 miners will produce an additional 160 PH/s. These purchases are in addition to the 1,500 M31S+ previously announced for delivery in June for a total of 280 PH/s of new equipment to be installed in our Cowansville expansion expected to be complete in July. Name Miners Model Total Hash Delivery Month MicroBT 496 M31S+ 40 PH/s April 2021 MicroBT 1,500 M31S+ 120 PH/s June 2021* MicroBT 1,500 M31S+ 120 PH/s July 2021 Total 3,496 280 PH/s *previously announced on March 24, 2021. Miner Rehabilitation The Company has recently started rehabilitation of older and mid-generation equipment that were previously cost-ineffective to repair. When rehabilitated, this equipment will restore approximately 80 PH/s of production to Bitfarms for a capital cost of approximately US$5 per TH/s. This compares to nearly US$120 per TH/s for new generation equipment on the spot market today, providing a near immediate return on investment. Bitcoin Inventory Pilot Program This week Bitcoin set another new all-time high of more than US$64,000, a more than 100% increase Year-To-Date. During this time, Bitfarms has mined and retained over 650 Bitcoin in reserve, currently valued at US$41 million at US$63,000 per Bitcoin and is currently adding approximately 7.5 Bitcoin per day to inventory. With prevailing difficulty, Bitfarms expects its mined Bitcoin inventory will grow to 1,000 Bitcoin within the next 50 days, representing approximately US$63 million worth of value for our shareholders at prevailing prices. With the planned new miner purchases, ongoing miner repairs, Bitfarms expects to increase its total hashrate to approximately 1.6 EH/s by August. At the prevailing economics as of April 15th, this equipment would produce approximately 9.5 Bitcoin per day. Stock Market Listing in the United States On February 4, 2021, we announced our intention to pursue an additional stock exchange listing for the Company in the United States. The Company has been continuing to actively move forward with a Nasdaq listing process. Having filed our 2020 Annual Information Form, we are now finalizing for submission our SEC Form 40-F, an important milestone towards our U.S. listing on the Nasdaq.
Comment by
bullFire on Apr 16, 2021 10:36am
NOT RELEVANT TO HIVE BOARD, BLOCK.
Comment by
Bac0n on Apr 16, 2021 12:08pm
BITF could be trading on the NASDAQ as soon as next week! Very exciting, final stages of the uplisting. unlike HIVE BITF is actually filing paper work and going through the process. and providing updates. HIVE is like "oh Frank said" lol it all comes down to the paperwork, and BITF is all over it! congrats to all the BITF longs. your reward is coming! *sips scotch* -Bac0n