During the year 3,346 Bitcoin and 1,790 Bitcoin Cash were sold to a company of which one of the Bitfarms shareholders is a director ("the Related Company") for $28,323. The 3,346 Bitcoin sold includes the conversion of other cryptocurrencies to Bitcoin using arm’s length exchanges. The Group monitors the market rate for cryptocurrency exchanges and regularly compares the basis points being charged to ensure optimization of the sale of cryptocurrency. The Group is under no obligation to sell to the company of which the shareholder is a director. As of the issuance of these financial statements, the Company ceased its exchange of cryptocurrencies through the Related Company. http://www.bitfarms.io/wp-content/uploads/2019/03/Bitfarms-Consolidated-FS-2018-12-31-EN.pdf
This excerpt is from the 2018 Annual Report.
If I understand this correctly, the company sold AT LEAST $10,735,207.72 worth of Bitcoin and Bitcoin Cash for $28,323...
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