U.S. stocks boost blockchain profits

A July 27 CoinDesk article examined the financial health of Canadian bitcoin miner Bitfarms and measured its ability to pay off debt to grow in 2021. According to the report, Bitfarms is working on its cryptocurrency mining business at a important price, which makes it more profitable for financial transactions. However, the company used high debt and large repayments to grow its business. With more than $ 20 million in financial debt current through the end of 2021 and a loss of revenue per terahashes, Bitfarms could struggle to repay its debt. Assuming Bitcoin prices don't rise, Bitfarms is expected to expand operations with top mining platforms over the next 12 months, which will encourage the company to raise more capital. However, restrictions and restrictions on existing loans affected the company's ability to raise capital through equity and debt, leaving Bitfarms with a few options. .