07:58 AM EST, 12/02/2024 (MT Newswires) -- Bitfarms ( BITF ) on Monday traded 1.4% lower at last look to US$2.12 in Nasdaq pre-market after saying 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 down from 236 earned in October.

The company 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," CEO Ben Gagnon said.

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