Canadian Bitcoin mining company Bitfarms generated $28.4 million in revenue in the first quarter of 2021, an increase of 209% over the previous year. At the same time, the company's mining gross profit was US$22.3 million. Bitfarms mined 598 bitcoins in the first quarter, and the average cost per BTC was approximately $8,400. In addition, as of March 31, 2021, the company has retained 548 BTC, valued at approximately US$32.4 million.
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