10:12 AM EDT, 09/03/2024 (MT Newswires) -- Bitfarms ( BITF ) said Tuesday it mined 233 bitcoins in August, down from 253 in July and 383 a year earlier.

The company said the decline was due to an increase in average network difficulty during August.

Bitfarms ( BITF ) sold 147 bitcoins in August, compared with 142 sold in July and 323 sold in August 2023, according to the company.

The company said it agreed to acquire Stronghold Digital Mining and the transaction will increase its 2025 energy portfolio by 47%.

Shares of the company were down 3.7% in recent trading.

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