Bitcoin mining company Bitfarms reported a net loss of $27 million in the second quarter of 2024

Bitfarms reported a net loss of $27 million, a decrease of 16% or $0.07 per share sequentially, which included a $1 million non-cash charge for the reassessment of warrant liabilities for the 2021 and 2023 financing activities. This compares to a net loss of $6.0 million, or $0.02 per share, in the first quarter of 2024, which included a $9.0 million non-cash gain on the reassessment of the warrant liability. This decrease is attributable to a reduction in block rewards as a result of the April 19, 2024 BTC halving event.