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Update Bitfarms # of BTC #12

Closed DaniloWalter closed 2 years ago

DaniloWalter commented 2 years ago

BTC: 2,028

https://twitter.com/Bitfarms_io/status/1435581630970798085

mokahless commented 2 years ago

Tracking public companies by twitter announcements doesn't make sense since we can't know the flow of their coins (buy/sell) until their quarterly filings. Doing this accurately as more and more companies buy coins would be a logistical nightmare to keep up to date with.

Either way, I don't think the 2028 number being the amount they have in custody to be a good representation of what they actually have on the books.

As we can see here, as of June 30, 2021, they had 1,293 BTC on their books. They sold 17 so far this year up to then and exchanged 47 more for debt obligations.

Sure, 2028 is probably what they have or close to what they have on the books now but I just think it makes sense for public companies to wait until their public filings to keep everything even. I'd like to appeal to the site owner to consider this.

Edit: Danilo, you missed my point. It doesn't matter if it's twitter or a PR. It's not a quarterly filing. The site owner can go by everything the company says, if they want but that would be a logistical nightmare and I appeal to them to instead go by audited quarterly filings to remain consistent.

DaniloWalter commented 2 years ago

The information they put in Twitter, first comes out in a PR!!!

El mar., 14 de septiembre de 2021 17:03, mokahless @.***> escribió:

Tracking public companies by twitter announcements doesn't make sense since we can't know the flow of their coins (buy/sell) until their quarterly filings. Doing this accurately as more and more companies buy coins would be a logistical nightmare to keep up to date with.

Either way, I don't think the 2028 number being the amount they have in custody to be a good representation of what they actually have on the books.

As we can see here https://bitfarms.com/app/uploads/2021/08/BITFARMS-Q2-2021-FS-FINAL.pdf, as of June 30, 2021, they had 1,293 BTC on their books. They sold 17 so far this year up to then and exchanged 47 more for debt obligations.

Sure, 2028 is probably what they have or close to what they have on the books now but I just think it makes sense for public companies to wait until their public filings to keep everything even. I'd like to appeal to the site owner to consider this.

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