Bitfarms .(US:BITF)2022-03-23 19:37Company Overview - Bitfarms is a vertically integrated global Bitcoin mining company[8, 23] - The company is focused on growing hashrate and is a decentralized self-miner[11, 23] - Bitfarms leverages scale and expertise in the Bitcoin mining industry[11, 23] Operational Highlights - As of February 28, 2022, Bitfarms had a hashrate of 23 EH/s and was mining 106 BTC/day[12] - Bitfarms held 4,886 BTC with a value of $200 million as of February 28, 2022, based on a Bitcoin price of approximately $41,000[12, 22] - The average direct cost to produce one Bitcoin in Q3 2021 was $6,900[11, 18] Expansion and Capacity - Bitfarms has 116 MW of operational capacity across 7 farms[13] - The company has 306 MW under development across 4 farms[13] - Bitfarms aims to fuel hashrate growth by expanding global diversification and decentralization[14] Financial Performance - Bitfarms reported a gross mining margin of 82% in Q3 2021[21] - Adjusted EBITDA for Q3 2021 was $299 million[21]