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    Home ยป Bitfarms a Canadian cryptocurrency company reveals production growth of over 20
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    Bitfarms a Canadian cryptocurrency company reveals production growth of over 20

    By adminJul. 3, 2024No Comments1 Min Read
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    Bitfarms a Canadian cryptocurrency company reveals production growth of over 20
    Bitfarms a Canadian cryptocurrency company reveals production growth of over 20
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    Despite facing challenges, Canadian Bitcoin mining company Bitfarms saw a 21% increase in BTC production in June. The company mined 189 BTC, which is significantly higher compared to previous months, and sold 134 of them, generating revenues of $8.8 million.

    However, this production reflects a 51% decrease compared to June 2023, mainly due to the recent halving event, which reduced miners’ rewards by 50%, affecting global Bitcoin mining.

    June was crucial for Bitfarms in improving mining capabilities. The company increased its hashing power to 11.4 exahashes per second (EH/s), with 10.4 EH/s already operational.

    Read more:


    Robinhood is considering launching cryptocurrency futures in the United States and Europe.

    This represents a remarkable 96% year-on-year increase and a 39% month-on-month increase. Bitfarms’ goal is to reach 21 EH/s by the end of 2024.

    As of July 1st, the company holds 905 Bitcoin tokens valued at approximately $57 million.

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