Bitcoin mining firm Bitfarms released its second quarter financial report, revealing a total revenue of $42 million, marking a 16% decrease from the previous quarter. This decline is mainly attributed to the Bitcoin halving event that occurred on April 19, 2024, leading to a reduction in block rewards. Additionally, the net loss for the quarter reached $27 million, with an EPS loss of $0.07, including a non-cash expense of $1 million from warrant liability revaluation in financing activities conducted in 2021 and 2023. Compared to the previous quarter, the net loss reduced by $6 million, or $0.02 per share, while it achieved $9 million in non-cash gains. In terms of production, the firm mined 614 BTC in the second quarter, with a direct production cost of $30,600 per BTC, up from $18,400 in the previous quarter. Due to the decrease in BTC production, the total cash cost per BTC rose from $27,900 to $47,300.