Bitfarms Announces A 15% Increase In Average Daily BTC Mined In April.

2022-05-02 | Selina Mathew

Bitfarms Announces A 15% Increase In Average Daily BTC Mined In April.

Bitfarms (NASDAQ:BITF) claimed 3.3 EH/s online as of April 30, 2022, up from 2.7 EH/s as of March 31, 2022; it mined 405 additional BTC (+75% Y/Y).

In April, 13.5 BTC were mined everyday on average (+15 percent over March), which is equal to $520K/day and $15.6M depending on the BTC price of $38.5K on April 30th, 2022.

In April, 403 BTC were placed into custody from mining operations; 5,646 BTC were in custody on April 30th, 2022 (indicating a cumulative worth of $217M depending on the current BTC price of $38.5K).

The business has deployed 5.9K additional miners, increasing Bitfarms' online hashrate by 590+ PH/s.

"With the commencement of production at our Leger farm, our ninth operational facility, we reached our 3 exahash per second (EH/s) objective in early April. This trend maintained all through the month, with additional miner installations pushing our hashrate to exceed 3.3 EH/s at the conclusion of the month, up 22 percent from the previous month ""March," CEO Emiliano Grodzki said.

The business expects to finish the lay out of Leger in May and the second phase of development at The Bunker in June.

These initiatives are planned to provide 32 MW of extra capacity and, in combination with continuing miner installations, to contribute 640 PH/s to the company's online hashrate.


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