132 0 Kommentare Bitfarms Provides June 2022 Production and Mining Operations Update

- Mines 420 Bitcoins for an Average of 14 Bitcoins per Day -

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated August 16, 2021 to its short form base shelf prospectus dated August 12, 2021.

TORONTO, Ontario and BROSSARD, Québec, July 01, 2022 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF // TSX: BITF), a global Bitcoin self-mining company, provided a Bitcoin (BTC) production and mining operations update for June 2022.

“The Bunker is nearing the completion of Phase 2, and it will be our largest active site, with 36 megawatts (MW) powering approximately 913 petahash per second (PH/s), which alone is nearly our total hashrate as at the end of 2020,” said Ben Gagnon, Chief Mining Officer of Bitfarms. “Miner deployments at The Bunker drove a 6% increase in our sequential month-over-month hashrate to 3.6 exahash per second (EH/s). Production averaged 14 BTC/day for the month and is currently clocked at 14.6 BTC/day.”

“Importantly, with miner installations continuing, we expect to exceed our Q2 2022 target of 4.0 EH/s within the next two to three weeks. This growth, coupled with recent declines in the overall network hashrate, from a 30-day rolling average of about 222 EH/s to 212 EH/s, signals we are well positioned to gain market share and increase our daily mined Bitcoins in July,” added Gagnon.

“In June, we completed the building structure for the first 50 MW warehouse in Rio Cuarto, Argentina, and are nearing completion of its roof and floor. Construction is also progressing smoothly on the construction of the high-voltage 132-kilovolt transmission line that will feed the site,” said Emiliano Grodzki, CEO of Bitfarms. “With construction on schedule, we continue to expect production to commence at this first warehouse in Q4 2022, and our plan remains to complete the second 50MW facility in Q1 2023.”

Mining Production

3.6 EH/s online as of June 30, 2022.
420 new BTC mined during June 2022, up 58% from June 2021.
14 BTC mined daily on average in June, equivalent to about US$280,000 per day and approximately US$8 million for the month based on a BTC price of US$20,000 on June 30, 2022.
3,144 BTC in custody on June 30, 2022, representing a total value of approximately US$63 million based on a BTC price of US$20,000. BTC held in custody on June 30, 2022, reflects the sale of 3,352 BTC during June 2022.