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.

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