To be honest, this was probably the last thing we needed right now, more doubt being cast over the company. The big problem though isn't that it happened, it's the message you are conveying to the investing public regarding the image of the company & maybe some issues of competency & transparency. So some hardcore defenders of the company might use this excuse, that S happens & it's common, so no need to worry. I understand this sort of stuff happens in the junior Canadian markets quite often, sometimes the issue is benign and resolved quickly & sometimes there are deeper complications.
Just in case there are folks who will defend the company on this issue and make some sort of justification to relieve them of any responsibility for failure to deliver, let me just say this. This definitely does not send a good message to the markets or investors and could portray the company & it's management as amateurish & disorganized. It's almost difficult to fathom that they would put themselves in a situation like this after all that has happened in the sector over the past year. Not exactly sure what management is thinking here, but i expected more from Sheldon & team and they should have been more disciplined & ready. Don't really know what to say on this matter aside from it happening at probably the worst time for the company, its s/h and definitely its stock. Well, this latest development while totally unexpected is quite unfortunate as well. At the time of writing, Bitcoin was exchanging hands above $41,500. According to CoinGecko, the flagship crypto, which traded below $40,000 for the first time since September 2021, returned above the $42,000 levels. Meanwhile, the Bitcoin market has reportedly reacted sharply to the news earlier on January 10. The firm currently has ten operating hydroelectric-powered mining plants and more already under development in various countries, including the United States, Argentina, and Canada. In that case, Bitfarms has stepped a mile further and adopted green renewable energy.
It’s worth noting that of crypto mining sector continues experiencing intense scrutiny over its environmental impacts. According to Grodzki, the firm intends to expand its mining by 260% from 2.2 exahashes per second to 8EH/s this year. “Our guiding company strategy at Bitfarms is to accumulate the most Bitcoin for the lowest cost and in the fastest amount of time for the benefit of our shareholders.” “With the dip in BTC, while mining hardware prices remain high, we seized the opportunity to move cash into BTC.” Bitfarms also eyes other crypto advancements this year, with the crypto mining firm previously hinting to build a mega data center in Washington in November last year. While commenting about the recent crypto development, Emiliano Grodzki, the founder and CEO of Bitfarms, said.
According to the mining firm, its total crypto holdings now stand at 4,300 BTC estimated to be worth around $177 million as of January 10. Notably, the recent funds invested in this purchase are relatively the same amounts Bitfarms made from profit in the third and fourth quarters of 2021. In a January 10 announcement, the Canadian-based crypto mining firm confirmed purchasing 1,000 Bitcoin (BTC) for $43.2 million during the first week of January 2022. Moreīitfarms Acquired 1,000 BTC, Now Has $177M In Cryptocurrency  by John Wanguba JanuReading Time: 3min read  Bitfarms, a Canadian-based crypto mining firm, has successfully acquired 1,000 Bitcoin (BTC) worth more than $43 million, making its total digital assets holdings surpass $177 million. IMHO financials are delayed due to complexities that THRM presents with Core+ activities and also its private investments other companies in 2021 to grow it (such as Brane Capital and Bosonic). Lastly, 2021 fiscal year end results are of utmost importance to uplist in 2022 as planned therefore, the auditors know that their will be significant reliance of these financials given, amongst other things, they show material YoY improvement. Second, do you really think that DMGI will purposely risk jeopardizing its brand with the likes of big partners in the space such as Marathon after gaining so much traction in 2021 in setting up the pools? Remember that the participants rely on the data provided by DMGI for its own public accounting on sharing etc. First, do you really think that they will not provide the data that it’s auditors need? Of course not more like they themselves don’t have another DMGI to validate this raw data so taking longer to audit. Guys, you will recall that part of its Core+ platform includes consulting on validating mining facts for audit firms and also providing dashboard info to other miners as participants in mining pools (eg Mara, Petra) they run.