Wu learned that Bitcoin mining company Bitfarms (now renamed Keel Infrastructure) released its third-quarter financial report on November 5th, reporting revenue of approximately $27.6 million, a 59% year-over-year decrease; a net loss of approximately $62.7 million, primarily due to valuation losses on non-cash derivatives; and an adjusted EBITDA loss of approximately $27.4 million. The company sold 2,520 BTC during the quarter, generating approximately $192 million, including all of its existing reserves of 2,261 BTC and 259 newly mined BTC, essentially clearing its Bitcoin reserves. The company stated that it will sell newly mined BTC daily from its Quebec, Canada operations to mitigate Bitcoin price volatility risk and continue its transformation towards AI and high-performance computing data center infrastructure. https://www.(wublock123.com)/news/bitfarms-rebrands-keel-infrastructure-q3-revenue-down-59-percent-bitcoin-reserves-cleared-71414