The publicly traded Bitcoin (BTC) miner Bitfarms has announced its acquisition of 1,000 Bitcoin (BTC) equivalent to $43 million.
The founder and CEO of Bitfarms, Emiliano Grodzki stated that the foremost strategy of the company is to stockpile Bitcoin (BTC) at the lowest possible price quickly for the sake of the shareholders of the company.
Grodzki went on to say that, “to that end, we continually optimize our capital allocation. With the dip in BTC while mining hardware prices remain high, we seized the opportunity to move cash into BTC. We continue to be committed to executing our operational growth strategy and delivering our goal of 8 exahash/second by the end of 2022.”
As of Monday, the total Bitcoin (BTC) holdings of Bitfarms amount to over 4,300 Bitcoin (BTC), equivalent to $178 million at the time of writing. Bitfarms had a total of 3,452 Bitcoin (BTC) holdings by the end of 2021 after having mined 363 Bitcoin (BTC) in December.
SHIB Activated on Lending Protocol Euler, Enabling Holders to Gain Interest
Bitcoin (BTC) Price Prediction January 2022: Bitcoin Facing Crucial Support
Kosovo Crackdown on Miners Continues: Over 300 Crypto Mining Machines Seized
Solana Blockchain Encountered a Degradation of Network Performance Twice This Week