- Bitfarms launched a mining and manufacturing replace for Might 2022.
- The corporate mined a complete of 431 BTC valued at $16.6 million and deposited 429 BTC into custody (99%).
- The miner now holds 6,075 BTC, at present valued at over $192.5 million.
Bitfarms (NASDAQ: BITF, TSX: BITF), a publicly-traded bitcoin mining firm, launched its manufacturing and mining replace for Might 2022 displaying 431 BTC mined value about $16.6 million at time of writing, through a press launch.
“Throughout Might, every day common manufacturing elevated to 13.9 bitcoin/day, up 3% from 13.5 BTC/day in April,” stated Emiliano Grodzki, CEO of Bitfarms. “We accomplished the construct out of Leger facility with 7,400 miners producing roughly 740 PH/s [petahashes per second]. Leger is now our single largest website with a manufacturing stage almost equal to Bitfarms complete hashrate on the finish of Q2, 2020.”
Bitfarms at present performs 3.4 exahashes per second (EH/s) as of Might 31, 2022 – which helped drive a 6% improve from the earlier month in complete bitcoin mined. Of the 431 BTC mined final month, 429 (99.5%) have been positioned into custody. After this layer, Bitfarms at present holds 6,075 BTC in custody which is at present value over $192.5 million.
“The second section of development at The Bunker is constant and is anticipated to extend the positioning’s capability to 30 MW when accomplished,” Grodzki defined. “With miner deliveries on schedule, we anticipate to have one other strong month of progress as we construct out our operational hashrate to our subsequent aim of 4 exahash per second (EH/s) by the tip of Q2.”
The mining firm additionally famous it had completely lowered its De La Pointe mining website all the way down to 18 megawatts (MW) as a part of its relocation of assets to the Ledger website within the Metropolis of Sherbrooke, Quebec.
At the moment the operations of Bitfarms are globally dispersed with seven industrial places in Quebec, one in Paraguay, and one in Washington State. Of those mining websites, 99% are sustainably mined with hydro energy and maintain long-term energy contracts.