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

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Institutions Are Lining Up For The Crypto Space – The Daily Dive feat Russell Starr

Today on the Daily Dive we see the return of Russell Starr, CEO of Trillium...

Tuesday, April 27, 2021, 01:30:00 PM

Amazon Hints At Potential Cryptocurrency Acceptance

Bitcoin noted some robust gains over the weekend following a series of bullish comments from...

Monday, July 26, 2021, 03:19:00 PM

Canada Kills The Anonymity Case For Crypto

In what may be the largest blow to the use case for cryptocurrencies globally, it...

Wednesday, February 23, 2022, 05:02:11 PM

Binance Ends Stock Token Support Immediately Following Additional Regulatory Crackdowns

It appears that Binance is finally waving the white flag. The company this morning issued...

Friday, July 16, 2021, 08:49:10 AM

Fairytales: In 2020 The Stock Market’s Divorce From Reality Became Formal

Feature image adapted from art by Flickr user bedgemont_dm. “2020” because it was the year...

Sunday, January 3, 2021, 09:00:00 AM