Bitfarms Reports 236 BTC Earned In October, Up 9% M/M And 41% Lower Y/Y
Portfolio Pulse from Benzinga Newsdesk
Bitfarms reported earning 236 BTC in October, a 9% increase month-over-month but a 41% decrease year-over-year. The company saw a 3% increase in average operating efficiency and an 8% increase in Bitcoin difficulty. Their operational capacity reached 11.5 EH/s, up 83% year-over-year.
November 01, 2024 | 11:02 am
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NEUTRAL IMPACT
Bitfarms reported a 9% increase in BTC earnings month-over-month, but a 41% decrease year-over-year. Operational capacity increased significantly, indicating potential for future growth despite current challenges.
The increase in BTC earnings month-over-month is positive, but the year-over-year decline is concerning. The significant increase in operational capacity suggests potential for future growth, balancing the short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100