Bitcoin miner Bitfarms sells 3K BTCs as part of its new HODL strategy

Crypto mining firms are starting to feel the heat as lower prices squeeze their profit margins. For instance, Bitcoin miner Bitfarms sold almost half of its BTC holdings to reduce its debt as part of its adjusted HODL strategy. In a press release on June 21, Bitfarms said that sold a total of 3,000 Bitcoin (BTC) for around $62 million. The crypto mining firm then used part of the proceeds to partially pay off its debt to Galaxy Digital. Bitfarms has applied a portion of the proceeds to rebalance its indebtedness by reducing its BTC-backed credit facility with Galaxy Digital LLC (Galaxy)...


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