Canadian Crypto Mining Company Bitfarms Sells $62M Worth of BTC
source link: https://nextbigwhat.com/canadian-crypto-mining-company-bitfarms-sells-62m-worth-of-btc/
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Canadian crypto mining giant Bitfarms has reneged on its hodling strategy and is instead selling 3,000 bitcoins for $62 million amid a recent market rout squeezing miners’ profitability.
The CFO of Bitfarms, Jeff Lucas, said that despite the sale, Bitfarms remains bullish on long-term price increases and is focused on maintaining BTC liquidity through its mining operations as it anticipates better economics.
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