Bitfarms (NASDAQ:BITF) has sold 3K bitcoins (BTC-USD) for $62M over the past week in an effort to improve liquidity and strengthen its balance sheet, as the crypto market undergoes "extreme volatility." The bitcoin (BTC-USD) miner has taken a portion of those proceeds to rebalance its indebtedness by reducing its bitcoin-backed credit facility with Galaxy Digital (OTCPK:BRPHF) to $38M from $66M. As of June 20, Bitfarms (BITF) was holding a total of 3,349 ($67M) at a purchase price of $20K. “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,” said Bitfarms CFO Jeff Lucas. "We believe that selling a portion of our BTC holdings and daily production as a source of liquidity is the best and least expensive method
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