BitFarms recorded a net loss in the first quarter of $ 36 million, wide of a $ 6 million loss in the same period in the previous year, such as the bitcoin axis from mining to high -performance computing of artificial intelligence applications.
The mining factor recorded $ 67 million in sales for the quarter ending on March 31, an increase of 33 % over the previous year. However, the total profit margin for BitFarm mining fell to 43 % of 63 % on an annual basis, the company He said In issuing the first quarter profits.
The lower margins reflect pressure from Bitcoin (BTCApril 2024, “Al -Nasf”, as well as volatility in the price of bitcoin. Halvings occurs every four years and reduce the BTC number of each block in half, which reduces the profitability of bitcoin miners.
In the first quarter of 2025, Bitcoin’s immediate price swing from more than $ 100,000 in January to less than $ 80,000 in March, according to Google Finance data. The cryptocurrency trades with more than $ 103,000 per currency as of March 14.
Related to: Bitcoin mining storage after Microsoft Data Center plans
Axis to artificial intelligence
BitFarms responded to the changing market conditions by investing in high performance computing (HPC). It also expanded its presence in the United States as a hedge against the commercial wars looming on the horizon.
“During the quarter, we have implemented many major areas of our strategic axis to the United States and HPC,” Bitfarms CEO Ben Ghania said in a statement.
He added: “The mining company now provides a stable cash flow and free reward for the company that puts us very well to develop and develop our American assets at HPC/AI data centers with benefiting from any potential part of Bitcoin in 2025 and 2026.”
Miners “diversify the AI Data Center as a way to expand revenues and re -display the current high -performance computing infrastructure”, ” He said the metal currency standards in the March report.
Computers and electrical power supply required to extract bitcoin are also useful for applications that require high performance computing, including artificial intelligence cases.
In March, the Coreweave Computing provider $ 1.5 billion in a preliminary public offer that is estimated at $ 20 billion, reflects a strong demand for investors for companies that serve artificial intelligence applications.
Corrow’s profits for last quarter are scheduled for May 14.
In April, bitfarms He received a credit line of $ 300 million From the Macquarie Investment Bank to finance the expansion of the HPC facility in Pennsylvania.
In January It sold a Bitcoin mining facility in Paraguay To Hive Digital, another mine worker, for $ 85 million.
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