The first shipment would take place in January 2022, and will be followed by monthly shipments with the last batch of mining rigs scheduled to arrive by December 2022.
The publicly listed block reward mining operation expects gross proceeds of nearly CAD$40 million via the sale in the United States of 11,560,695 common shares.
The reduction in staffing comes amid a raft of other measures designed to reduce costs and maintain “long-term viability.”
Bitfarms have been going through an upheaval of late as Pierre-Luc Quimper, its president and co-founder, quit in October.
Bitfarms Ltd. is pleased to announce that it has taken delivery of ~4,100 new generation miners which will be installed in Phase 1 of the Company’s new Sherbrooke computing centre.
Bitfarms is trying to write a new narrative about mining firms, and reviving the economy of some towns while at it.
In a statement to CoinGeek, Bitfarms has cleared up a lot of fake news related to its Tel Aviv listing.
Crypto mining firm Bitfarms reports $18.2m loss after particularly difficult year, proposes Toronto listing via deal with Canadian firm.
According to a report, Bitfarms has filed a preliminary prospectus with Canada’s Ontario Securities Commission (OSC) in hopes of being able to eventually launch an initial public offering (IPO) in the country.