“Selling a portion of our BTC holdings and daily production as a source of liquidity is the best and least expensive method in the current market environment," said chief financial officeJeff Lucas.
Canadian crypto mining firm Bitfarms sold roughly $62 million worth of Bitcoin (BTC) in June, using the proceeds from the sale to reduce its debt.In a Tuesday announcement, Bitfarms said it had sold 3,000 Bitcoin in the last seven days, roughly 47% of the crypto mining firm’s roughly 6,349 BTC holdings.