Bitfarms (NASDAQ:BITF) buys 1K bitcoins (BTC-USD) as the price of the world's largest digital token by market cap continues to fall to September lows.
The company acquired the coins for $43.2M, which increases its BTC holdings by 30% to more than 4.3K as of Jan. 10, 2022.
"With the dip in BTC while mining hardware prices remain high, we seized the opportunity to move cash into BTC," said Bitfarms Founder and CEO Emiliano Grodzki.
Meanwhile, shares of BTIF slide 2.3% in pre-market trading as (BTC-USD -1.4%) tests a crucial level of technical support at $40K.
Previously, (Jan. 3) Bitfarms mined 3,452 BTC in 2021.
By: Max Gottlich
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