Bitfarms mines 269 bitcoins in April

• Bitfarms (NASDAQ:BITF) said Wednesday it earned 269 bitcoins in April 2024, down from the 286 it earned in March and the 379 it earned in April 2023.
• Meanwhile, the company said it sold 245 bitcoins as part of its regular treasury management process for $16.1 million.
• Bitcoins held in treasury increased to 830, representing $50.9 million based on a BTC price of $61,300 at April 30, 2024.
• Month end operating EH/s came in at 7.0 for April, compared with 6.5 EH/s in March.
• During the month, the company earned 9 bitcoins daily on average, equal to ~$551,700 per day based on a BTC price of $61,300 at April 30, 2024.
• The company also said that it achieved a favorable outcome in Québec’s VAT treatment, securing a $23.7 million tax refund and reducing Canadian electricity costs and capital expenditures by 15%, with the recovery of future VAT paid in the normal course of business.
• Press Release.

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