Bitcoin

April

Note

<div class="coinjournal"> 
 <ul> 
  <li>Bitfarms produced 411 bitcoins last month and sold 362.</li> 
  <li>The Canadian miner is still lagging behind last year’s figures.</li> 
  <li>Bitfarms stock is currently down 40% versus its recent high.</li> 
 </ul> 
 <p>Bitfarms Ltd says its <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> <a rel="noopener noreferrer nofollow" title="output" href="https://thebittimes.com/tag/output.html">output</a> popped 7.3% in September as it continued to install new miners and “fully energised” its facility in Rio Cuarto to 51 MW.</p> 
 <h2 id="bitcoin-still-holds-703-btc-in-total">Bitcoin still holds 703 BTC in total</h2> 
 <p>The Canadian miner produced a total of 411 bitcoins last <a rel="noopener noreferrer nofollow" title="month" href="https://thebittimes.com/tag/month.html">month</a> – of which it sold 362 for about $9.5 million. Geoff Morphy – the Chief Executive of Bitfarms said in a press release today:</p> 
 <blockquote> 
  <p>We continue to believe that many of our best opportunities for growth and investment will arise around the next Bitcoin halving expected to occur in April 2024.</p> 
 </blockquote> 
 <p>The Toronto-headquartered firm still holds nearly $20 million worth of Bitcoin (703 in total). Its total operating capacity now sits at 233 MW.</p> 
 <p>Shares of the <a rel="noopener noreferrer nofollow" title="Bitcoin Mining" href="https://thebittimes.com/tag/bitcoin-mining.html">Bitcoin Mining</a> company are still down about 40% versus their recent high.</p> 
 <h2 id="bitfarms-is-still-lagging-last-year-s-figures">Bitfarms is still lagging last year’s figures</h2> 
 <p>Bitfarms is committed to strengthening its balance sheet and infrastructure ahead of the halving event next year – by which, it expects to have paid off under $10 million it still has in debt.</p> 
 <p>The bitcoin mining company now has a total operating capacity of 233 MW. Its hash rate improved another 9.0% in September to 6.1 exahashes per second (EH/s).</p> 
 <p>Bitfarms wanted its hash rate to hit 6.3 EH/s in the third quarter but “electrical infrastructure delays” at its Baie-Comeau facility saw it come a bit shy of the target.</p> 
 <p>Note that the Canadian miner is still trailing the numbers it reported last year. Bitfarms mined 3,692 BTC in the first nine <a rel="noopener noreferrer nofollow" title="month" href="https://thebittimes.com/tag/month.html">month</a>s of this year versus 3,733 Bitcoin in the equivalent period of 2022. Wall Street currently has a consensus “buy” rating on BITF.</p> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitfarms-reports-a-7-3-increase-in-its-monthly-mining-output-tbt64859.html">https://thebittimes.com/bitfarms-reports-a-7-3-increase-in-its-monthly-mining-output-tbt64859.html</a></p>

Bitfarms reports a 7.3% increase in its monthly mining output

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