Bitfarms, a company that mines for Bitcoin (BTC), has fulfilled its financial obligations to BlockFi, putting an end to the short-lived commercial agreement that it had with the now-defunct cryptocurr...
Tag: Bitfarms
Bitfarms pay off $21M debt with one-time cash payment of $7.75M
Ad Crypto miner Bitfarms has settled a $21 million debt owed to bankrupt crypto lender BlockFi with a one-time cash payment of $7.75 million, according to a Feb. 9 press statement. Bitfarm agreed with...
Bitfarms pays down $21 million BlockFi loan with $7.75 million in cash
Bitcoin miner Birfarms settled $21 million in debt from BlockFi with a single payment of $7.75 million in cash. The value of mining machines that collateralize those loans has dropped significan...
Bitfarms seeks to modify loan facility with BlockFi as bear market drags on
Bitcoin (BTC) mining company Bitfarms has unveiled plans to modify an existing loan agreement with BlockFi — a move the company said would reduce its indebtedness amid the bear market. On Jan. 13, Bit...
Bitfarms to restructure equipment loan facility terms
Bitfarms Ltd, a global organization that mines bitcoin, is lowering the debt of one of its wholly-owned corporate subsidiaries. According to statements made by Jeff Lucas, Chief Financial Officer of B...
Bitfarms seeks to avoid BlockFi loan default with renegotiation
Bitfarms is seeking to modify a loan with BlockFi to avoid default as the value of equipment plummets. Last year, Bitfarms’ Backbone Mining Solutions entered into a $32 million equipment financi...
Bitfarms CEO and Co-Founder Emiliano Grodzki Leaves the Firm
Bitfarms Co-Founder Emiliano Grodzki has resigned as its CEO. Geoffrey Morphy will serve as the new CEO, who was the President and Chief Operating Officer of the firm. According to a press release, th...
Crypto Mining Firm Bitfarms CEO Steps Down Amid Bear Market Woes
15 seconds ago | 2 mins read Bitcoin News Geoffrey Morphy is promoted from president and COO to CEO. Bitfarms was established in Canada in 2017 by Grodzki and Nicolas Bonta. Bitfarms’ CEO, Emiliano Gr...
Bitfarms CEO Emiliano Grodzki Resigns Amid Industry Struggles
Emiliano Grodzki has stepped down as CEO of leading Bitcoin mining firm Bitfarms, joining a long list of crypto executives who resigned from their positions amid the bear market this year. The mining ...
Bitfarms CEO Resigns; COO Takes Over
Bitfarms released its official statement on December 29th, 2022 noting that Emiliano Grodzki resigned as CEO and that Geoffrey Morphy will serve as the new CEO. Grodzki, however, will remain in t...
Bitfarms CEO Steps Down; BTC Miners Struggle With Profitability
Bitfarms CEO Emiliano Grodzki has resigned. He will be replaced by Geoffrey Morphy, the company’s chief operating officer. This comes amid a disastrous year for Bitcoin miners, causing some large firm...
Bitcoin Mining farm Bitfarms co-founder and CEO Emiliano Grodzki resigns
Emiliano Grodzki, co-founder and CEO of Canadian Bitcoin mining company Bitfarms, has resigned, according to a press release on Dec. 29. Emiliano Grodzki and Nicolas Bonta founded the mining company i...
Bitfarms gets a new CEO days after the sale of a $3.6m property
Bitfarms, a bitcoin mining firm, has confirmed hiring a new CEO, Geoff Morphy. The self-mining BTC corporation has promoted its COO and President, Geoff Morphy, to the new CEO and tweeted the new deve...
Bitfarm’s COO Geoffrey Morphy promoted to CEO
Bitcoin mining firm Bitfarm promoted Geoffrey Morphy to the position of CEO after Emiliano Grodzki resigned from the post. Morphy, who previously served as chief operating officer, will also rem...
NASDAQ Warned Bitfarms to Correct its Share Price
The block reward mining firm, Bitfarms (NASDAQ: BITF) may witness a possible delisting from Nasdaq if its share price fails to fulfil the $1 threshold over the upcoming six months. Bitfarms Receives N...
Bitfarms makes $3.6m by selling property in Canada
Bitfarms, a global bitcoin self-mining corporation, has received $3.6 million in net proceeds following the sale of its property in Canada. According to a press release, Bitfarms Société de transport...
Bitfarms nets $3.6 million gain from de la Pointe property sale
Mining firm Bitfarm, which has locations across the Americas, sold a property in de la Pointe, Quebec for a net profit of $3.6 million. The de la Pointe property used hydroelectric power from H...
Core Scientific continues its rally
Despite most mining stocks falling, Core Scientific continued its rally by finishing up 72% today. Bitcoin was valued at around $17,400 at the close on Thursday, Dec. 15, according to data from...
Bitcoin Mining Company Bitfarms Receives Delisting Warning From Nasdaq
Cryptocurrency mining company Bitfarms announced Wednesday that it had received a warning from Nasdaq Stock Market LLC that it was not in compliance with its minimum bid price requirements. The Canad...
Nasdaq warns Bitcoin mining firm Bitfarms about share price deficiency
The Canadian Bitcoin (BTC) mining firm Bitfarms is facing compliance challenges over its listing on Nasdaq due to the ongoing cryptocurrency winter. Bitfarms received a warning notification from Nasda...
Nasdaq warned Bitfarms on possible delisting
The Nasdaq stock market issued a warning to Bitfarms after the bitcoin miner’s share price fell below $1 for thirty days in a row. Nasdaq gave Bitfarms 180 calendar days, or until June 12, 2023, to ra...
BlockFi’s bankruptcy is the latest blow for a bleeding Bitcoin mining industry
As if crashing crypto assets, high energy prices and increasing difficulty in mining weren’t enough, now Bitcoin miners face the fallout from BlockFi’s bankruptcy protection filing. ...
Bitfarms Noted Selling More BTC Than Production
Prominent bitcoin miner Bitfarms has witnessed disparity in its overall produced bitcoin (BTC) and sold crypto assets. Third quarter report of Bitfarms noted that it mined overall 1,515 BTC while sold...
Bitfarms sold more Bitcoin than it mined in Q3
Bitcoin mining firm Bitfarms’ third-quarter report shows that the miner sold more BTC than it made in the quarter -the miner sold 2,595 BTC while mining 1,515 BTC. The miner focused on strengthening i...
Bitfarms records positive adjusted EBITDA of $10 million for 2022 Q3 – crypto.news
Bitfarms has ended the third quarter with about a 17% increase in profits. The final stages of Canadian expansion projects are due for completion by year-end. Bitfarms unveils Q3 reports As earlier pr...
The Block: Bitcoin mining stock report: Thursday, November 10
Most bitcoin mining stocks tracked by The Block traded up on Thursday. Bitcoin was trading at about $17,687 around market close, according to data from TradingView. BTCUSD chart by ...
Bitfarms Celebrates Five-Year Anniversary and Operations in Four Countries
● Operations and production capacity expanded to ten locations distributed across the Western Hemisphere ● Hashrate climbed to a Company high 4.2 EH/s online in September 2022 ● BTC production powered...
New Bitfarms Operation in Argentina Slashes Costs With Natural Gas
Bitcoin mining giant Bitfarms has fired up a new operation in Argentina, claiming a major energy advantage. The company is one of the world’s largest mining operators and operates in four countries, ...
BTC Miner, Bitfarms, Starts Mining in Argentina Increasing Hashrate to 4.1 EH/s – crypto.news
Canadian Miner, Bitfarms, reported on September 19th that it has commenced mining operation in Argentina. This has increased the miner’s hashrate to over 4.1 EH/s as it wishes to build another warehou...
Bitcoin Miner Bitfarms Starts Production in Argentina
Bitfarms Ltd, a Bitcoin mining company, headquartered in Quebec, Canada, announced on Monday that it has started mining production in its new facility based in Argentina. The Canadian miner said its h...