Bitfarms Purchased 1,000 Bitcoin In First Week Of January

Key Points:

• Bitfarms is one of the leading global crypto mining firms based in Canada and was founded in 2017.

• Bitfarms announced in a purchase and treasury update that they purchased 1,000 BTC for $43.2 million during the first week of January 2022.

  • As of Jan 10, 2022, Bitfarms is holding over 4,300 Bitcoin in their treasury, increasing their holdings by 30% from this single purchase.

Our guiding company strategy at Bitfarms is to accumulate the most Bitcoin for the lowest cost and in the fastest amount of time for the benefit of our shareholders. To that end, we continually optimize our capital allocation. With the dip in BTC while mining hardware prices remain high, we seized the opportunity to move cash into BTC. We continue to be committed to executing our operational growth strategy and delivering our goal of 8 Exahash/second by the end of 2022.

Emiliano Grodzki, Bitfarms Founder and Chief Executive Officer