Bitfarms Mined 405 Bitcoin In April, Now Holds 5,646 BTC
Bitfarms released a bitcoin mining update detailing a 75% YoY increase in production and the custodying of 99% of total mined BTC in April.Bitfarms, a publicly traded bitcoin mining company, released bitcoin production results and a mining operations update for April 2022. The total revenue reached 405 BTC for the month, netting a total of $15.6 million. Of the 405 BTC mined, 403 BTC were deposited into custody, leaving Bitfarms with a reserve of 5,646 BTC, worth approximately $218 million. Bitfarms Ltd. (Nasdaq: BITF, TSX: BITF), a globally distributed mining company, released a....
Related News
Bitfarms, a publicly traded miner, released its bitcoin mining update showing 431 BTC mined with 6,075 BTC ($192 million) held in custody.
On April 23, the publicly listed mining operation Bitfarms revealed a partnership with the Digital Currency Group (DCG) subsidiary Foundry Digital LLC. Bitfarms will be joining Foundry’s American mining pool and the two bitcoin mining firms have revealed the joint purchase of 2,465 Whatsminer M30S ASIC mining machines. Bitfarms Partners With Foundry’s US Operations At the end of March, the mining company Hut 8 explained that the bitcoin mining operation was joining Foundry’s U.S. mining pool. At the time, Hut 8’s CEO Jaime Leverton explained that “having a....
Bitcoin mining company Bitfarms has shared bitcoin production updates, including energy usage and the company's strategic HODL mentality.
Bitfarms estimates it could have mined BTC for $4,125 each during Q4 2020 if its forthcoming Argentinian facility was operational. Canadian Bitcoin mining firm Bitfarms has updated its plans for expansion in South America, revealing it has secured an eight-year contract to draw up to 210 megawatts, or MW, of electricity for $0.022 per kilowatt-hour, or kWh.According to an April 19 announcement, Bitfarms has made significant progress in solidifying the terms for its Argentinian operation since first signing a non-binding memorandum to build a 60 MW power plant in October 2020.In addition to....
Bitfarms is producing more BTC at a lower cost due to the drop in difficulty. Publicly traded North American Bitcoin mining company, Bitfarms, has doubled its productivity this year amid the Chinese crackdown and resultant miner migration.The Canadian hydroelectricity mining outfit claims to be currently powering an estimated 1.5% of the entire Bitcoin network with more than 99% renewable green energy.In a July 14 production update, the firm revealed that it had mined 1,357 BTC in the first six months of 2021, adding that this was the largest number of BTC mined in North America as....