- Bitfarms produced 411 bitcoins final month and bought 362.
- The Canadian miner continues to be lagging behind final yr’s figures.
- Bitfarms inventory is presently down 40% versus its latest excessive.
Bitfarms Ltd says its mining output popped 7.3% in September because it continued to put in new miners and “absolutely energised” its facility in Rio Cuarto to 51 MW.
Bitcoin nonetheless holds 703 BTC in complete
The Canadian miner produced a complete of 411 bitcoins final month – of which it bought 362 for about $9.5 million. Geoff Morphy – the Chief Government of Bitfarms mentioned in a press release in the present day:
We proceed to imagine that lots of our greatest alternatives for progress and funding will come up across the subsequent Bitcoin halving anticipated to happen in April 2024.
The Toronto-headquartered agency nonetheless holds almost $20 million value of Bitcoin (703 in complete). Its complete working capability now sits at 233 MW.
Shares of the bitcoin mining firm are nonetheless down about 40% versus their latest excessive.
Bitfarms continues to be lagging final yr’s figures
Bitfarms is dedicated to strengthening its steadiness sheet and infrastructure forward of the halving occasion subsequent yr – by which, it expects to have paid off underneath $10 million it nonetheless has in debt.
The bitcoin mining firm now has a complete working capability of 233 MW. Its hash charge improved one other 9.0% in September to six.1 exahashes per second (EH/s).
Bitfarms wished its hash charge to hit 6.3 EH/s within the third quarter however “electrical infrastructure delays” at its Baie-Comeau facility noticed it come a bit shy of the goal.
Notice that the Canadian miner continues to be trailing the numbers it reported final yr. Bitfarms mined 3,692 BTC within the first 9 months of this yr versus 3,733 Bitcoin within the equal interval of 2022. Wall Avenue presently has a consensus “purchase” ranking on BITF.