Bitfarms Reports Strong Q2 Financial Performance and Strategic Initiatives
AI Summary
According to BlockBeats, Bitfarms, a publicly traded Bitcoin mining company, has released its financial results for the second quarter ending June 30, 2025. The report highlights the establishment of a second major executive office in New York City and the initiation of a stock repurchase program.
During the second quarter, Bitfarms sold 1,052 Bitcoins at an average price of $95,500, generating total proceeds of $100 million. The company's total revenue for the quarter reached $78 million, marking an 87% increase compared to the previous year. As of August 11, 2025, Bitfarms holds 1,402 Bitcoins.
