Bitfarms Sees 87% Year-on-Year Revenue Growth, Plans to Relocate to the United States
According to ChainCatcher, as reported by The Block, Bitcoin miner Bitfarms saw its second-quarter revenue grow by 87% year-over-year, reaching $78 million. The company plans to relocate to the United States, benefiting from President Trump’s strong support for cryptocurrencies and artificial intelligence.
Currently, 82% of Bitfarms’ energy portfolio is located in North America, including multiple sites in the United States and a facility in Quebec, Canada. The company plans to cease its mining operations in Argentina due to economic uncertainty in the region’s future.
In addition, Bitfarms has launched a stock buyback program and, as of August 8, has repurchased 4.9 million shares at an average price of $1.24 per share.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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