07:32 AM EDT, 08/08/2024 (MT Newswires) -- Bitfarms ( BITF ) , a bitcoin data center company, on Thursday reported a slightly higher second quarter net loss while revenue rose 17%.

Net loss of US$27 million, or US$0.07 per share included a US$1 million non-cash expense for revaluation of warrant liabilities related to 2021 and 2023 financing activities, Bitfarms ( BITF ) said. This compares with a net loss of US$26 million, or US$0.11 per share last year.

Total revenue rose to US$41.5 million from US$35.5 million last year.

The company has also concluded its strategic alternatives review, announced last May, and determined that continuing to execute its plan as an independent public company is the way forward. Bitfarms ( BITF ) said it is "open to reviewing any and all opportunities" that may deliver value to shareholders.

Bitfarms ( BITF ) is up US$0.11 to US$1.99 in U.S. premarket trade.