Bitfarms Ltd (BITF)

[diskman]

“The Bitcoin mining sector has been tremendously exciting following the increase of Bitcoin prices since early October, and in particular thanks to the unprecedented peaks in price we’ve seen over the last week. The role, we as bitcoin miners have to play in this industry, is completely essential, and it is with great excitement that we are able to announce this expansion to our computing power,” said Emiliano Grodzki, Interim Chief Executive Officer of Bitfarms.

The addition of over 6,000 new generation miners over the past 6 months, combined with recent bitcoin price increase, has improved the Company’s “gross mining margin” * to approximately 68%.

By late February 2021, management forecasts computing power-to-electricity efficiency ratio to improve by 1.7%, from ~17.8 PH/MW to ~18.1 PH/MW. Bitfarms remains one of the largest and lowest cost producers of Bitcoin amongst publicly traded Bitcoin mining companies in the world.