Bitcoin News

Bitfarms Bitcoin Mining Climbs 47.5% In July.

Nasdaq-listed mining firm Bitfarms’ outlined that its Bitcoin [BTC], generation rate climbed 47.5% earlier in July, producing a complete sum of 391 BTC, its best month so far.

Bitfarms’ monthly Bitcoin production has almost doubled since the starting of the year, averaging around 13 BTC per day, consistent with an official press release earlier on Thursday.

Fortune estimates that Bitfarms scored $14 Mln in profit earlier in July, 80% over in February, its lowest-output month of 2021.

The Canadian company has deposited 96% of the mined bitcoins, worth $69 Mln at 31st July prices, into custody, it outlined. The firm expects to stay adding bitcoin to its record as output increases, added Emiliano Grodzki, Bitfarms founder and CEO.

Bitfarms now accounts for 1.5% of the worldwide bitcoin hash rate and is North America’s leading publicly traded miner, it outlined.

The firm uses over 99% hydroelectricity, it explained.

Bitfarms shares rose 15% to close at $5.13 USD.

Leave a Comment

Your email address will not be published. Required fields are marked *