Bitfarms currently has more than 4300 coins on its balance sheet

​Bitfarms mining company has acquired an additional 1000 bitcoins

11.01.2022 - 08:30

204

1 min

What’s new? Bitfarms, a large mining company, has published a press release announcing the purchase of 1000 bitcoins in early 2022. The company's new assets totaled $43,2 million.

The full version of the press release

What else is known about the deal? The January deal was Bitfarms' third quarterly bitcoin purchase. The mining company also acquired 1000 coins each in the third and fourth quarters of 2021.

As a result of the first purchase made in 2022, Bitfarms' balance increased by 30% and currently exceeds 4300 bitcoins. According to Emiliano Grodzki, the company's founder, the main goals of the investments are to hedge risks and acquire bitcoin at minimal prices amid the rising costs of cryptocurrency mining equipment.

Author:

Michael Golikov Michael Golikov

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