Bitfarms Mining Revenue Falls 45% to $7 Million in May

Mining company Bitfarms said it earned 156 BTC ($7 million) in May, down 42 percent from April. The company said the decline was due to the fact that May was the first full month of the “post-halving economy. ‘Bitfarms’ total BTC holdings increased to 850 BTC, valued at $57.2 million based on the May 31 BTC price of $67,300.Bitfarms was founded in 2017 and currently has 12 operational Bitcoin mining facilities in four countries - Argentina, Canada, Paraguay and the United States - with another under development.