Bitcoin miner Bitfarms opened the year by acquiring 1,000 Bitcoin in its first week, taking advantage of the digital currency’s dip.
- Bitfarms bought the 1,000 Bitcoin for $43 million, bringing its total holdings to 4,300 Bitcoin as of January 10, 2022. This is estimated to be worth $178 million at the current price.
- Founder and Chief Executive Officer Emiliano Grodzki said the firm is guided by its strategy to accumulate the most Bitcoin for the lowest amount and in the fastest time while taking advantage of the recent decline in prices.
- Bitfarms targets to deliver eight exahash/second by the end of the year. It mined 363 new Bitcoin in the last month of 2021, bringing the cumulative 2021 total to 3,452 Bitcoin.
BTC is down 1.53%.