11:58 AM EST, 12/02/2024 (MT Newswires) -- Bitfarms ( BITF ) shares were last seen down 4.5% after the company on Monday said its bitcoin production fell in November.

The company earned 204 bitcoin in November, down from the 392 earned in the same month of 2023 and the 236 earned in October.

Bitfarms ( BITF ) also noted the initial deployment of miners to Stronghold Digital Mining's sites in Pennsylvania under hosting agreements announced in September and October 2024.

"By redirecting our miners to be deployed in the U.S., we have best matched our miners with the underlying electricity economics across our large portfolio of flexible MWs," Chief Executive Ben Gagnon said.

As well, Benoit Gobeil resigned as Bitfarms' ( BITF ) chief infrastructure officer.

The company's shares were last seen down $0.14 to $2.96 on the Toronto Stock Exchange.

Price: 2.93, Change: -0.17, Percent Change: -5.48