Bitfarms agreed to settle its remaining $21 million debt with BlockFi through a single cash payment of $7.75 million

ChainCatcher news, Bitcoin mining company Bitfarms has agreed to settle its remaining $21 million debt with BlockFi through a one-time cash payment of $7.75 million. Bitfarms Chief Financial Officer Jeff Lucas stated that our debt has decreased by nearly 85% from a peak of $165 million in June 2022 to today's $25 million. The remaining debt is primarily secured by new, efficient mining equipment in Quebec, which is set to mature in February 2024 or earlier, allowing us to pay off the debt before the next halving event expected in May 2024.