Bitcoin miner Bitfarms elevated its power capability to 166 megawatts in July — up 21% from June 30 — after ending the second section of development at certainly one of its areas in Canada.
The corporate’s whole hash price additionally rose by 5.6% to three.8 exahash per second (EH/s), in response to a month-to-month replace launched Monday. The corporate expects to achieve 4 EH/s by the tip of this month.
Manufacturing additionally elevated at two of the miner’s different websites in Canada and Washington State. Nonetheless, it needed to take care of the warmth.
“Unseasonably excessive temperatures in Québec and Washington state late within the month additionally barely lowered miner productiveness and affected our company hashrate,” mentioned Bitfarms’ Chief Mining Officer, Ben Gagnon.
The corporate mined 500 BTC in July, having bought 1,623 BTC all through the month. A part of these revenues was used to scale back a bitcoin-backed mortgage by $15 million, bringing the excellent debt to $23 million.
The miner has already bought 3,000 BTC in June to pay down a part of a $100 million mortgage from Galaxy Digital.
Bitfarms held 2,021 BTC in custody as of July 31, after promoting 1,623 BTC final month.