Bitfarms Mines 354 Bitcoin In August 2021

Bitfarms Ltd. (TSXV: BITF) announced this morning that the company has produced 354 bitcoin in August 2021, averaging close to 10 per day. This is a slight dip from July 2021’s production of 391 bitcoin, mining 12.6 per day.

The quarter-to-date yield for Q3 as of September 1st is 745 bitcoin, approximately 98% of Q2 mining production of 759 bitcoin.

Out of the 2,102 bitcoin mined for 2021, the company reported that it deposited back into custody 2,028 bitcoin. This carries a value of US$93.9 million as of this writing.

The crypto miner also reported the scheduled first delivery of its 7,230 Bitmain S19j Pros before the end of September. The machines are primarily slated to replace the company’s current Bitmain S9s, expecting to boost the overall hashrate by 723 PH/s.

The firm, which currently operates at 1.4 EH/s, is still maintaining its goal to reach a hashrate of 3 EH/s by the first quarter of 2022 and 8 EH/s by year-end.

Bitfarms Ltd. last traded at $7.50 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

France Targets Bitcoin Wealth with New Unproductive Wealth Tax Plan

France is considering a significant shift in its taxation policy by proposing a tax on...

Saturday, December 7, 2024, 01:21:00 PM

Bitfarms Acquires Additional Miners, Pushing Capacity To 2.5 EH/s By Year End

Bitfarms (TSXV: BITF) continued to plod along its path of becoming the largest public bitcoin...

Thursday, May 6, 2021, 07:27:40 AM

El Salvador Shelves Bitcoin Bond Debut Amid Unfavourable Market Conditions

El Salvador decided to postpone the offering of its $1 billion bond last week, citing...

Wednesday, March 23, 2022, 04:16:00 PM

Bitcoin Jumps After Tesla Begins Accepting Crypto as Payment for Cars

The price of bitcoin rose by nearly 5% to above $55,000 on Wednesday, after Elon...

Saturday, March 27, 2021, 04:47:00 PM

Bitcoin’s Value Relative to Gold And Stocks Has Reached Unprecedented Levels

In light of this week’s IPO of the highly valued cryptocurrency exchange Coinbase, and the...

Thursday, April 15, 2021, 02:48:00 PM