Bitcoin mining company Bitfarms Ltd. has announced its Quarter 1 financial results for the year ending March 31, 2024. Quarter 1 hash rate in 2024 is 7.0 EH/s, up from 6.5 EH/s in Quarter 1 in 2024, producing an average of 10.4 BTC per day.
Total financial revenue for Quarter 1 in 2024 was $50 million, up 9% from $46 million in Q4 2023. Operating loss was $24 million, which included $19 million of accelerated depreciation on older miners, compared to $13 million in Q4 2023, which included a $1 million non-cash reversal of digital asset revaluation losses and a $2 million non-cash impairment charge. The company mined 943 bitcoins.
Bitfarms Quarter 1 had a total revenue of $50 million and mined 943 bitcoins
2024-05-15 11:17:31
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