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Bitfarms | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Aug 8 19:24
Summary by Futu AI
Bitfarms Ltd., a foreign private issuer, has reported its interim condensed consolidated financial statements for the three and six months ended June 30, 2024. The report, filed with the U.S. Securities and Exchange Commission, includes financial statements, management's discussion, and analysis, as well as CEO and CFO certifications dated August 8, 2024. The financial statements reveal a net loss of $26,599 for the three months and $32,579 for the six months ended June 30, 2024. The company experienced a comprehensive loss, net of tax, of $32,054 for the three months and $20,601 for the six months. The loss per share was $0.07 for the three months and $0.09 for the six months. Bitfarms' total assets increased to $535,934 as of June 30, 2024, from $378,725 as of December 31, 2023. The company's equity also rose...Show More
Bitfarms Ltd., a foreign private issuer, has reported its interim condensed consolidated financial statements for the three and six months ended June 30, 2024. The report, filed with the U.S. Securities and Exchange Commission, includes financial statements, management's discussion, and analysis, as well as CEO and CFO certifications dated August 8, 2024. The financial statements reveal a net loss of $26,599 for the three months and $32,579 for the six months ended June 30, 2024. The company experienced a comprehensive loss, net of tax, of $32,054 for the three months and $20,601 for the six months. The loss per share was $0.07 for the three months and $0.09 for the six months. Bitfarms' total assets increased to $535,934 as of June 30, 2024, from $378,725 as of December 31, 2023. The company's equity also rose to $473,877 from $294,762 in the same period. The report includes detailed notes on the nature of operations, liquidity, accounting policies, and significant accounting judgments and estimates. Bitfarms' operations span across Canada, the United States, Argentina, and Paraguay, with the main activity being the sale of computational power for cryptocurrency mining. The company's financial performance was impacted by various factors, including market volatility, regulatory changes, and operational challenges.

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