Bitfarms Reported a 75% Rise in the Number of Mined Bitcoins

by in Cryptocurrency News

Bitfarms Bitcoin mining

Toronto-based BTC mining firm Bitfarms issued an update for operations in April 2022. The company noted that 405 Bitcoins were mined which makes 13.5 Bitcoins per day on average. The number of mined Bitcoins went up by 75% from April 2021, and the mining hashrate reached 3.3 exahash per second.

Related: Bitfarms Purchased 1000 Bitcoins

Earlier, in April, Bitfarms started its ninth facility, Leger farm. The Chief Executive Officer of the firm, Emiliano Grodzki said that with the new miner equipment, the hashrate grew by 22% from 2.7 EH/s from the end of March.

Thus, the average production of Bitcoins per day in April reached 13.5 coins per day, which means 15% increase from 11.7 daily Bitcoins in March. At the end of April the firm was running at over 14 BTC/day.

Bitfarms will continue to complete building out of Leger in May and construct the second phase of The Bunker in June.

Bitfarms was established in 2017 and it is one of the largest crypto mining companies in North America. In June 2021, the company got listed on Nasdaq. On May 16, the company will report financial results of the fiscal first quarter 2022 in a conference call.