Toronto-based Bitcoin mining company Bitfarms reported a 16% decrease in revenue to $42 million in Q2 2024. The decrease is attributed to the BTC halving event on April 19, 2024. 📉

The company reported a net loss of $27 million, a loss of $0.07 per share. Production costs increased, and cash costs per BTC rose to $47,300. Bitcoin earnings increased by 34% in July to 243 BTC. 🚀