Bitfarms revenue increased five times in a year

29.03.2022 11:43
by Artem Ustinov
1 min read

Canadian mining company Bitfarms (BITF) reported annual growth of more than 428%. Quarterly revenue grew by 33%.

On March 28, BITF reported to the US Securities and Exchange Commission (SEC) its results for the fourth quarter of 2022 and the whole of 2022, announcing plans to expand capacity and increase project funding.

Quarterly revenue increased 33% to $60 million. Revenue for the year increased 426% to $169.5 million. Fourth-quarter operating income was $15 million and net income was $10 million, or $0.05 per share.

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  • Crypto analyst and practitioner trader with the law and managerial education. Active investor and crypto enthusiast. Worked as an analyst and copywriter in a brokerage company. Accompanied by DAO and NFT projects of different levels of complexity.

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