Bitfarms adjusts its HODL strategy to sell 3,000 BTC and improve its liquidity
The Argentina-based crypto mining company that operates in Canada, Bitfarms, has announced that it is modifying its HODL strategy for the company’s liquidity improvement during these hard times.
Bitfarms sells Bitcoin worth $63M
On June 21, the mining giant shared a press release that revealed that Bitfarms had sold 3,000 Bitcoin over the last week for around $63 million with the aim to improve its liquidity by nearly $100 million.Notably, Bitfarms will use a portion of the proceeds to rebalance its indebtedness with Galaxy Digital LLC by reducing its BTC-backed credit facility to a further $28 million, from $66 million to $38 million.
With the move, the company has reduced its Bitcoin reserves by 3,000 from around 6,349 BTC to 3,349 BTC, counting June’s daily production. Moreover, the company is left with much lower BTC reserves than it had at the beginning of 2022, which was 4,300 BTC.
The data provided by the company shows that Bitfarms can generate an average of 14 BTC per day or roughly 1,260 BTC per quarter. Given that it purchased 1,000 BTC for $43.2 million at the beginning of January, it can thus afford to sell at a loss. At the current market price, the same quantity of Bitcoin could be purchased for $20.6, which is less than half the price.
Extreme market volatility
Jeff Lucas, the CFO at Bitfarms, said that the primary reason behind the selling of the company’s Bitcoin holdings was extreme volatility, among other factors. He stated:“In consideration of extreme volatility in the markets, we have continued to take action to enhance liquidity and to de-leverage and strengthen our balance sheet. Specifically, we sold 1,500 more Bitcoin and are no longer HODLing all our daily BTC production. “He said that the company is still bullish on long-term BTC price appreciation, but the change in its HODLing strategy enables it to “focus on our top priorities of maintaining our world-class mining operations.”
100% Success Money Back Guarantee
If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Take your next step towards crypto success
$799/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
What’s included in Pro:
Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
Our latest memecoins pick with 50X potential
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the success guarantee work?
If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Recommended from Cryptonary
