405 0 Kommentare Bitfarms Earns 357 BTC in January 2024

- On track to begin production at Paso Pe, Paraguay and to initiate fleet upgrades and expansion in Q1 2024 -

TORONTO, Ontario and BROSSARD, Québec, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF), a global vertically integrated Bitcoin mining company, provides an update for the month ended January 31, 2024.

“In 2024, we are embarking on an aggressive growth plan, targeting hashrates of 12 EH/s in 1H 2024 and 21 EH/s in 2H 2024,” said Geoff Morphy, President and Chief Executive Officer of Bitfarms. “The new farm development in Paraguay is expected to drive much of this growth. With land purchased for our 100 MW facility in Yguazu and shipment of the main transformer for Paso Pe, our expansion projects continued on schedule in January. This transformative fleet upgrade and growth plan are being undertaken to position Bitfarms to gain market share and be among the lowest cost producers during this Halving year, which is anticipated to be an inflection point for the industry.”

Ben Gagnon, Chief Mining Officer of Bitfarms, said, “January mining operations generated 357 BTC compared to 446 BTC in December. This reflects the typical higher curtailment during the coldest months and a return to more normal transaction fees as compared to the temporary spike experienced in December 2023.”

“Our fleet upgrade commences with the first batch of 11,600 Bitmain T21 miners scheduled to begin shipping to Quebec in February. Our construction of air-cooled warehouses and installation of 1,920 MicroBT M53S+ hydro-cooled miners and containers at Paso Pe are scheduled for February and March, respectively. We are on track to initiate production at that farm by late Q1 2024. Those new installations along with fleet upgrades elsewhere in our portfolio throughout 1H 2024 should drive rapid increases in our hashrate and increased energy efficiency,” Gagnon added.

Mining Review

January production of 357 BTC represented a decrease of 20.0% from December as powerful winter storms across North America drove significantly higher energy curtailment, which is part of the grid stability programs in Quebec, and offsetting a network difficulty decrease of 2.3% during January.

Key Performance Indicators	January 2024	December 2023	January 2023
Total BTC earned	357	446	486
Month End Operating EH/s	6.5	6.5	4.7
BTC/Avg. EH/s	60	72	110
Operating Capacity (MW)	240	240	188
Hydropower MW	186	186	178
Watts/Terahash Efficiency (w/TH)	35	35	40
BTC Sold	357	444	486