Bitfarms [NASDAQ: BITF] Shares Bitcoin Production and Mining Operations Update

Bitfarms Ltd. [NASDAQ: BITF] has shared the production and mining update of Bitcoin for the third quarter of 2021. The Q3 performance of the firm was unbeatable as the firm has produced the highest Bitcoin. Bitfarms Q3 2021 Bitcoin production reached 1,050 BTC. It represents 38% over 2021 Q2.

The firm disclosed that total Bitcoin Holdings rose to more than 2,300 BTC estimated at nearly US $100 Million. 2021 has proven to be a revolutionary year for Bitfarms as the firm continues implementing capital to upgrade its mining fleet. In 2021, the firm has started new facilities, and start its global expansion.

Bitfarms disclosed that it has mined 305 new Bitcoin (BTC) during September 2021. This represents nearly 10 BTC mined daily. It has mined 1,050 BTC in the third quarter of 2021 and achieved the highest quarterly BTC production rate in 2021. The firm has mined 2,407 BTC in the first nine months of 2021.

Furthermore, Bitfarms has obtained and installed the first 540 miners of 2,200 Bitmain S19j Pro and 300 MicroBT M30S miners planned for shipment in September. The deployment of these miners has risen the Bitfarms’ operating hash rate to 1.53 EH/s as of September 29, 2021. Bitfarms has produced 199, 178, 221,232, and 262 from January to May. In June, it has produced 265. In July, August, and September it has produced 391, 354, and 305, respectively.