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Bitfarms Bought $43.2M of Bitcoin in the First Week of January
The purchase increased the publicly traded firm’s BTC holdings by 30% to over 4,300.
Bitcoin mining firm Bitfarms purchased 1,000 bitcoins worth $43.2 million during the first week of January.
- The purchase increased the publicly traded firm’s BTC holdings by 30% to over 4,300, Bitfarms announced Monday.
- Toronto-based Bitfarms took the opportunity offered by the crypto market’s recent dip to accumulate bitcoin at “the lowest cost and in the fastest amount of time,” CEO Emiliano Grodzki said in the statement.
- “With the dip in BTC while mining hardware prices remain high, we seized the opportunity to move cash into BTC,” he added.
- Bitfarms announced last week that it had mined 3,452 bitcoins in all of 2021.
Read more: Bitfarms Doubles Hashrate to More Than 2 EH/s
STORY CONTINUES BELOW
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
