According to Foresight News, Bitfarms has released its financial results for the first quarter of 2025. The company produced 693 BTC during this period, with a direct production cost of $47,800 per BTC and a total cash production cost of $72,300 per BTC. In the first quarter, Bitfarms sold 428 bitcoins.
The company's total revenue for the quarter reached $67 million, marking a 33% increase compared to the same period in 2024. However, the mining gross margin decreased to 43%, down from 63% in the first quarter of 2024.
