Bitfarms Ltd BITF Shares are buying and selling 7.00% decrease at $1.89. The corporate introduced first-quarter outcomes Monday morning.

Bitfarms reported quarterly earnings of two cents per share. This is a rise from losses of 6 cents per share for a similar interval final yr. The corporate reported income of $40.33 million for the quarter, up from $28.43 million for a similar interval final yr.

In line with Bitfarms, Q1 2022 monetary outcomes have been considerably impacted by the decline out there value of BTC through the quarter in comparison with This autumn 2021.

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Bitfarms owns and operates blockchain farms that energy the worldwide decentralized finance financial system. It gives processing energy for cryptocurrency networks resembling Bitcoin, Bitcoin Money, Ethereum and Litecoin.

In line with information from Benzinga Professional, Bitfarms has a 52-week excessive of $9.36 and a 52-week low of $1.68.