LockMeta
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
Twitter Telegram
LockMeta
Twitter Telegram
Google News
  • Latest News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
LockMeta
Bitcoin News

Bitcoin mining company Bitfarms mining gross profit margin increased from 33% in the previous quarter to 42%

May 15, 2023
Share Facebook Twitter Telegram WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

Bitcoin mining company Bitfarms (BITF) released its first quarter report, reporting that Bitfarms has accelerated its schedule to reach 6 exahash/second (EH/s). The cent narrowed sharply to 1 cent, and the gross profit margin of mining increased from 33% in the previous quarter to 42%.

In the first quarter of 2022, its mining profit margin is 76%. The miner reported revenue of $30 million in the first quarter of 2023, compared with $27 million in the previous quarter and $40 million in the same period a year earlier.

Additionally, as of April 2023, Bitfarms has sold 1,646 BTC worth $38 million. At the time of writing, shares of the mining company were up 7% in premarket trading.

Previous ArticleIndian Finance Minister: India Supports Blockchain, But Digital Currencies Should Be Regulated
Next Article Oregon Democrat fined for failing to disclose $500,000 donation tied to former FTX exec

Related News

May 28, 2023

NEOS applied to launch Bitcoin High Yield ETF and Bitcoin Quantitative Trend ETF

May 28, 2023

Year-to-date transfers from long-term Bitcoin holders with floating profits up nearly 2,000% to $489 million

May 27, 2023

U.S. Senator Cynthia Lummis: The idea of a 30% tax on Bitcoin miners proposed by the Biden administration will not happen

May 26, 2023

Ron DeSantis: People Should Be able to Use Bitcoin

May 26, 2023

Data: Bitcoin network settlement transfer volume has dropped by about 85.5%

May 25, 2023

Report: Bitcoin’s Falling Correlation With Stocks Revives Appeal For Investors

May 22, 2023

Ethereum will be less volatile than Bitcoin in the near future, or attract more long-term investors

May 16, 2023

Paraguay Police Raid Seized 300 Stolen Bitcoin Mining Machines

The Latest
Bitcoin News May 28, 2023
NEOS applied to launch Bitcoin High Yield ETF and Bitcoin Quantitative Trend ETF
Ethereum News May 28, 2023
21Shares: In Q1, the settlement amount on the Ethereum chain reached 3.01 trillion US dollars
Bitcoin News May 28, 2023
Year-to-date transfers from long-term Bitcoin holders with floating profits up nearly 2,000% to $489 million
Altcoin News May 28, 2023
The number of addresses of SHIB holders in a state of floating loss exceeded 1 million
Ethereum News May 27, 2023
Ethereum Staking Protocol Swell Network Launches Staking and Liquidity Incentive Program Voyage

LockMeta provides the latest crypto news flash including Bitcoin, Ethereum, Altcoins, NFTs, Metaverse, Business and Policy. Get today's latest crypto news in a minute.

Twitter Telegram
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
  • About Us
  • Contact Us
  • Advertise
  • Terms of Service
  • Privacy Policy
© 2023 LockMeta.

Type above and press Enter to search. Press Esc to cancel.