Bitfarms Ltd BITF shares are buying and selling decrease by 7.00% at $1.89. The corporate reported first-quarter earnings outcomes Monday morning.
Bitfarms reported quarterly earnings of two cents per share. This is a rise over losses of 6 cents per share from the identical interval final yr. The corporate reported $40.33 million in gross sales this quarter, a rise of $28.43 million in the identical interval final yr.
Bitfarms says monetary ends in first-quarter 2022 have been considerably impacted by the decline available in the market value of BTC through the quarter as in comparison with fourth-quarter 2021.
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Bitfarms owns and operates blockchain farms that energy the worldwide decentralized monetary economic system. It supplies computing energy to cryptocurrency networks equivalent to Bitcoin, Bitcoin Money, Ethereum and Litecoin.
In keeping with knowledge from Benzinga Pro, Bitfarms has a 52-week excessive of $9.36 and a 52-week low of $1.68.