Bitfarms (TSX:BITF) sells de la Pointe property for US$3.6 million in net proceeds

Bitfarms (BITF) has completed the sale of its de la Pointe property, receiving US$ 3.6 million in net proceedsThe company sold the property to Société de transport de Sherbrooke (STS) after an extensive due diligence and competitive processBitfarms is a global Bitcoin self-mining company which was founded in 2017Bitfarms Ltd. opened trading at C$ 0.64

Bitfarms (BITF) has completed the sale of its de la Pointe property, receiving US$ 3.6 million in net proceeds.

The company sold the property to Société de transport de Sherbrooke (STS) after an extensive due diligence and competitive process.

“It’s gratifying that Sherbrooke’s transportation agency can utilize our electrical infrastructure with green power generated by Hydro Québec and supplied by Hydro Sherbrooke to meet the needs of the community,” noted Geoff Morphy, President and COO of Bitfarms.

“As part of our green mobility initiative, this new facility will benefit all our citizens with green bus service and electric-assist bike sharing, which is scheduled to begin in the summer 2023,” said Marc Denault, President of STS.

“For STS, this agreement demonstrates a successful partnership with Bitfarms, which completes the relocation of its Bitcoin mining operation to an industrial area within the City of Sherbrooke,” he added.

Bitfarms is a global Bitcoin self-mining company which was founded in 2017. Bitfarms runs vertically-integrated mining operations with in-house management and company-owned electrical engineering, installation service, and onsite technical repair.

Bitfarms Ltd. opened trading at C$ 0.64.

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Bitfarms (TSX:BITF) sells de la Pointe property for US.6 million in net proceedsStock