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Bitfarms | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Mar 7 08:39
Summary by Moomoo AI
Bitfarms Ltd., a foreign private issuer, has reported to the United States Securities and Exchange Commission (SEC) for the month of March 2024. The report, filed under Form 6-K, includes two key exhibits: the Foundry USA Pool Payout Methodology and the Master Custody Service Agreement with Anchorage Digital Bank N.A. The payout methodology, dated March 6, 2024, details the Full-Pay-Per-Share (FPPS) payout scheme used by Foundry USA Pool to distribute earnings to pool members. The document outlines the three-step process for calculating the FPPS payout, which includes determining the daily Pay-per-Share earnings, calculating the FPPS rate to include transaction fees, and finally, the Subaccount FPPS Payout Amount. The Master Custody Service Agreement, dated August 1, 2023, between Anchorage Digital Bank N.A. and Backbone Hosting Solutions Inc., was also included in the report, with certain redacted portions deemed non-material and confidential. The report was signed by Bitfarms' President and CEO, L. Geoffrey Morphy.
Bitfarms Ltd., a foreign private issuer, has reported to the United States Securities and Exchange Commission (SEC) for the month of March 2024. The report, filed under Form 6-K, includes two key exhibits: the Foundry USA Pool Payout Methodology and the Master Custody Service Agreement with Anchorage Digital Bank N.A. The payout methodology, dated March 6, 2024, details the Full-Pay-Per-Share (FPPS) payout scheme used by Foundry USA Pool to distribute earnings to pool members. The document outlines the three-step process for calculating the FPPS payout, which includes determining the daily Pay-per-Share earnings, calculating the FPPS rate to include transaction fees, and finally, the Subaccount FPPS Payout Amount. The Master Custody Service Agreement, dated August 1, 2023, between Anchorage Digital Bank N.A. and Backbone Hosting Solutions Inc., was also included in the report, with certain redacted portions deemed non-material and confidential. The report was signed by Bitfarms' President and CEO, L. Geoffrey Morphy.
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