Bitfarms Ltd BITF shares are buying and selling decrease by 7.00% at $1.89. The corporate reported first-quarter earnings outcomes Monday morning.
Bitfarms reported quarterly earnings of two cents per share. This is a rise over losses of 6 cents per share from the identical interval final yr. The corporate reported $40.33 million in gross sales this quarter, a rise of $28.43 million in the identical interval final yr.
Bitfarms says monetary leads to first-quarter 2022 had been considerably impacted by the decline out there worth of BTC throughout the quarter as in comparison with fourth-quarter 2021.
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Bitfarms owns and operates blockchain farms that energy the worldwide decentralized monetary financial system. It offers computing energy to cryptocurrency networks corresponding to Bitcoin, Bitcoin Money, Ethereum and Litecoin.
In response to information from Benzinga Pro, Bitfarms has a 52-week excessive of $9.36 and a 52-week low of $1.68.