Bitfarms, a major crypto mining company, experienced a 42% drop in revenue in May, the first full month after the Bitcoin halving event. The company's Bitcoin production fell from 263 BTC in April to 156 BTC in May, with the average amount of Bitcoin earned per unit of computational power also dropping by 45%. Bitfarms attributed the decline to the Bitcoin halving event, which reduced the mining subsidy, and unusually cold temperatures at its Argentina facility. Despite the setback, Bitfarms secured an additional 100 megawatts at its Paraguay site and has 16,200 Bitcoin miners en route to boost its hash rate.