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TechFlow, May 14 — Cryptocurrency mining company Bitfarms released its Q1 2025 performance report. The company produced 693 BTC in the quarter, with an average direct production cost of $47,800 per BTC and a total cash production cost of $72,300 per BTC. During the first quarter, it sold 428 bitcoins. Bitfarms reported total revenue of $67 million for the quarter, a 33% increase year-over-year, with a mining gross margin of 43%, down from 63% in Q1 2024.
Cryptocurrency mining company Bitfarms released its Q1 2025 performance report, stating that it produced 693 BTC during the quarter, with an average direct production cost of $47,800 per BTC and a total cash production cost of $72,300 per BTC. The company sold 428 bitcoins in the first quarter. Bitfarms' total revenue for Q1 was $67 million, up 33% year-over-year, with a mining gross margin of 43%, compared to 63% in Q1 2024.
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