Miner Bitfarms' Bitcoin cost basis jumps to $205,946 • Sold 1,670 BTC since April • Still holds 1,861 BTC, worth $119M That's what happens when you sell low.

What happened

Bitfarms sold 1,670 Bitcoin since April, leaving it with 1,861 Bitcoin valued at $119 million, while its average cost per Bitcoin rose to $205,946.

Confirmed

Global impact / market context

The higher cost basis shows Bitfarms is now holding Bitcoin at a price above current market levels, which could pressure its profitability and cash flow if prices stay low.

Analyst inference

Bitcoin’s price has been below Bitfarms’ cost basis, meaning the company’s mining earnings are reduced and its balance sheet reflects unrealized losses, a situation common for miners during price downturns.

Analyst inference

What to watch

1. Future Bitcoin price movements: a rise could improve Bitfarms’ earnings and reduce the cost‑basis gap, while further declines may deepen losses. Analyst inference
2. Bitfarms’ next mining‑equipment purchases: buying new hardware at lower prices could lower the average cost per Bitcoin and improve margins. Analyst inference
3. Regulatory or tax changes affecting crypto mining: new rules could alter Bitfarms’ cost structure or the treatment of its Bitcoin holdings. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• x.com