Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Bitfarms (BITF) has completed the sale of its de la Pointe property, receiving US$3.6 million in net proceeds
  • The company sold the property to Société de transport de Sherbrooke (STS) after an extensive due diligence and competitive process
  • Bitfarms is a global Bitcoin self-mining company which was founded in 2017
  • Bitfarms Ltd. opened trading at C$0.64

Bitfarms (BITF) has completed the sale of its de la Pointe property, receiving US$3.6 million in net proceeds.

The company sold the property to Société de transport de Sherbrooke (STS) after an extensive due diligence and competitive process.

“It’s gratifying that Sherbrooke’s transportation agency can utilize our electrical infrastructure with green power generated by Hydro Québec and supplied by Hydro Sherbrooke to meet the needs of the community,” noted Geoff Morphy, President and COO of Bitfarms.

“As part of our green mobility initiative, this new facility will benefit all our citizens with green bus service and electric-assist bike sharing, which is scheduled to begin in the summer 2023,” said Marc Denault, President of STS.

“For STS, this agreement demonstrates a successful partnership with Bitfarms, which completes the relocation of its Bitcoin mining operation to an industrial area within the City of Sherbrooke,” he added.

Bitfarms is a global Bitcoin self-mining company which was founded in 2017. Bitfarms runs vertically-integrated mining operations with in-house management and company-owned electrical engineering, installation service, and onsite technical repair.

Bitfarms Ltd. opened trading at C$0.64.


More From The Market Herald
Kraken Energy - Senior Geologist, Madeline Berry

" @ the Bell: TSX rebounds on energy & mining rally

Canada’s main stock index bounced back from earlier losses among the technology and utility sectors to close higher on Tuesday, thanks to an
01 Communique - Founder and CEO, Andrew Cheung.

" 01 Communique (TSXV:ONE) launches world’s first quantum-safe secure remote access

01 Communique (ONE) has upgraded its remote access service, I’m InTouch, using quantum mechanics.
Featured Video Play Icon

" Datametrex AI (TSXV:DM) subsidiary Nexalogy announces pending launch of AnalyticsGPT

Datametrex AI (DM) subsidiary, Nexalogy Environics, is working towards launching AnalyticsGPT (Analytics Generative Pre-Trained Transformer).

" Copper Lake Resources (TSXV:CPL) begins winter drilling at Marshall Lake

Copper Lake Resources (CPL) has started a winter diamond drilling program on its Marshall Lake Property in northwestern Ontario.