Move underscores broader mining sector shift beyond Bitcoin
Buyback plan boosts Bitfarms shares by 17%
Offloads 13.5 million shares since early July, marking a 40% reduction from peak holdings
Riot had amassed 90 million BITF shares at an average price of $2.24
Bitfarms realized 87% of its 19.5 EH/s installed hashate
HPC hire comes after completing M&A with Stronghold
Stronghold exited PJM’s capacity market in June 2022 after the FERC investigation
Mining hardware preorders drop, imports decline, and AI shakes things up
3.29 EH/s in realized hashrate
Holdings have more than doubled in 2024
Direct cost of production amounted to nearly $60k in Q3
These companies collectively account for nearly 35% of global production