Data: Bitfarms' first-quarter revenue increased by 11% quarter-over-quarter to $30 million

ChainCatcher news, Bitcoin mining company Bitfarms reported a quarter-over-quarter revenue increase of 11% to $30 million in the first quarter of 2023, with a gross profit and gross margin of $12 million and 42%, respectively, representing a quarter-over-quarter increase of 50% and 33%. In the first quarter, Bitfarms produced a total of 1,297 bitcoins, with a mining cost of $17,600 per bitcoin. Additionally, Bitfarms sold 1,267 bitcoins at an average price of $22,500 in the first quarter, with part of the proceeds used to repay equipment-related debts. (source link)