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Bitfarms
Crypto Makes Its Supreme Court Debut; Bitfarms Sinks to Fourth-Quarter Loss
Coinbase argued at the U.S. Supreme Court on Tuesday that its disputes over forcing customers into arbitration should freeze the courts while the arguments play out – a moment that breaks legal ground for crypto with the industry’s first high court appearance. Separately, Bitcoin miner Bitfarms (BITF) dropped to a fourth-quarter loss as the price of bitcoin fell, costs rose and mining difficulty increased.
Bitcoin Miner Bitfarms Sinks to Fourth-Quarter Loss as Difficulty, Costs Rise
Bitfarms is shooting for 6 exahash per second of computing power by the end of 2023, the same goal it had set, and missed, for 2022.
Bankrupt Crypto Lender BlockFi Takes Two-Thirds Loss to Settle Bitcoin Miner Bitfarms' Debt
The miner had recently warned it might stop paying off the debt to bankrupt BlockFi.
Bitcoin Miner Bitfarms Warns of Default
Bitcoin miner Bitfarms (BITF) might have already or may in the future stop making installment payments on a $20 million loan from bankrupt crypto lender BlockFi, effectively defaulting on the loan, according to a press release. As a result, Bitfarms is looking to modify the loan. "The Hash" panel breaks down the details of the loan.
Bitcoin Miner Bitfarms Warns of Default, Looks to Amend BlockFi Loan
The outstanding $20 million loan is secured by only $5 million in assets.
Alameda-Linked Wallet Movement; Bitcoin Miner Bitfarms' CEO Resigns
On-chain data cited by crypto research firm Arkham Intelligence suggested $1.7 million worth of tokens from Alameda-linked wallets were sold in the open market over a span of several hours on Wednesday. Plus, Bitfarms (BITF) co-founder and CEO Emiliano Grodzki stepped down from his position and former Chief Operating Officer Geoffrey Morphy has been promoted as his replacement.
Bitcoin Miner Bitfarms' CEO Resigns and Is Replaced by COO
Emiliano Grodzki, the outgoing CEO, co-founded the Canadian company in 2017.
Bitcoin Miner Bitfarms Pays Down $27M of Debt
The miner is trying to improve its liquidity during the crypto market downturn.
Bitcoin Miner Bitfarms Starts Production in Argentina, Increases Hashrate to 4.1 EH/s
The Canadian company plans to open a second mining site in the country, which has low electricity costs, next year.
Bitfarms Looks to Boost Liquidity With Sale of 1,500 Bitcoin, New Loan
The miner paid down a credit line from Galaxy Digital while inking new equipment financing from NYDIG.
