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Bitfarms' Shares Rise on Bitcoin Earnings
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Bitfarms' shares surged by 10% following a successful Bitcoin earning of 446 coins in December. The company boasts a $118 million liquidity and low-cost power contracts for up to 593 megawatts, along with a miner purchase agreement for 63,888 new Bitmain miners in 2024. The Bitcoin price has increased by 15% in the past month and 173% in the past 12 months. Additionally, Bitfarms' hashrate was 44% higher for the year ended Dec. 31, 2023.
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How might Bitfarms' successful Bitcoin earnings impact the overall cryptocurrency market and investor sentiment?
What are the potential risks and challenges associated with Bitfarms' expansion plans in the cryptocurrency mining sector?
What strategies is Bitfarms employing to secure its position in the Bitcoin mining industry, and how does it compare to other major players?
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