Bitfarms mining company has released its Q2 financial report, with total revenue in the quarter of $42 million, a 16% decrease compared to the previous quarter, due to the reduction of block rewards caused by the BTC Halving event on April 19, 2024. Additionally, the net loss in Q2 was $27 million, equivalent to $0.07 per share, which includes a non-cash expense of $1 million related to the repricing of warrant liabilities in the financing activities of 2021 and 2023. In comparison, the net loss in Q1 2024 was $6 million, equivalent to $0.02 per share, which includes a non-cash income of $9 million from the repricing of warrant liabilities. The company produced 614 BTC in Q2, with an average direct cost of $30,600 per BTC, higher than the $18,400 in Q1. Meanwhile, with the decrease in BTC production, the total cash cost per BTC in Q2 increased from $27,900 in Q1 to $47,300.