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Bitfarms sold 3K Bitcoin as part of strategy to improve liquidity and pay debts

Coin Telegraph LogoCoin Telegraph1 mo ago

Bitfarms sold 3K Bitcoin as part of strategy to improve liquidity and pay debts

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"Selling a portion of our BTC holdings and daily production as a source of liquidity is the best and least expensive method in the current market environment," said CFO Jeff Lucas.

The ETH price experienced a similar drop to under $1,000 on June 18 — an 18-month low — before rising to more than $1,200 on Tuesday.

The move from Bitfarms came amid extreme price volatility among major cryptocurrencies including BTC and Ether (ETH).


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Article Details

Author / Journalist: Cointelegraph By Turner Wright

Category: Crypto

Topics: Galaxy digital Cryptocurrencies Business Bitfarms Bitcoin mining Bitcoin Loans Mining Bitcoin price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-21, 18:15:00

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Reading Time: 3 minutes read

Article Length: 429 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 2480

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About Coin Telegraph

Coin Telegraph Logo

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 24 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 10h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #11

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