According to Wu, Bitcoin mining company Bitfarms recently doubled the contracted power generation capacity of its Yguazu base in Paraguay from 100 MW. In addition, the company received confirmation from the Canadian tax authorities in April that the previously paid $24 million in VAT would be refunded, and it is expected that the average direct production cost per BTC will be reduced by $2,100 in the first quarter of 2024. Bitfarms sold 941 BTC at an average price of $52,700 in the first quarter of 2024, with a total proceeds of $50 million. And sold 245 of the 269 BTC in April 2024, with a total proceeds of $16 million.