Bitcoin mining company Bitfarms' net loss reached $27 million in the second quarter of 2024
Bitfarms' net loss was $27 million, a 16% decrease compared to the previous period, or $0.07 per share, including $1 million in non-cash expenses for the revaluation of stock options liabilities for financing activities in 2021 and 2023. In contrast, the net loss for the first quarter of 2024 was $6 million, or $0.02 per share, including $9 million in non-cash gains from the revaluation of stock options liabilities. This decrease was attributed to the reduction in block rewards caused by the BTC halving event on April 19, 2024.
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