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Bitfarms Reports Q1 2025: Mined 693 BTC with Revenue Surge to $67 Million

By: en coinotag|2025/05/14 19:45:04
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Bitfarms, a significant player in the cryptocurrency mining sector, announced its Q1 2025 performance metrics, revealing that the firm successfully mined a total of 693 BTC during the quarter. The direct production cost per Bitcoin was reported at $47,800 , while the comprehensive cash cost surged to $72,300 , reflecting the complexities of current mining operations. In this quarter, the company divested 428 BTC , contributing to a substantial total revenue of $67 million , marking a notable 33% year-over-year growth . Despite this growth, the mining gross margin experienced a contraction, declining to 43% from 63% in Q1 2024. Such financial figures underscore the ongoing challenges within the crypto mining landscape, impacted by fluctuating energy costs and regulatory environments.

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