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Bitcoin miner Bitfarms reported a 87% year-over-year rise in revenue and plans to relocate to the United States.
According to Mars Finance, The Block reported that Bitcoin miner Bitfarms' revenue in the second quarter rose by 87% year-on-year, reaching $78 million. The company plans to relocate to the United States, benefiting from President Trump's strong support for Crypto Assets and artificial intelligence. Bitfarms currently has 82% of its energy portfolio located in North America, including multiple locations in the United States and a plant in Quebec, Canada. The company plans to cease its mining operations in Argentina due to future economic uncertainty in the region. Additionally, Bitfarms has initiated a stock buyback program, and as of August 8, it has repurchased 4.9 million shares at an average price of $1.24 per share.