2 years ago
- Bitfarms, a publically traded bitcoin mining company, released bitcoin accumulation results and a mining operations update for April 2022.
- The full gross reached 405 BTC for the month, netting a full of $15.6 million.
- Of the 405 BTC mined, 403 BTC were deposited into custody, leaving Bitfarms with a reserve of 5,646 BTC, worthy astir $218 million.
Bitfarms Ltd. (Nasdaq: BITF, TSX: BITF), a globally distributed mining company, released a accumulation update for April 2022 detailing an summation of 75% year-over-year (YoY) successful bitcoin mined, per a property merchandise sent to Bitcoin Magazine.
Bitfarms reported that it mined a full of 405 BTC, worthy astir $15.6 million, past month, with a regular mean of 13.5 BTC, worthy astir $522,000 astatine the clip of writing. The notable summation tin beryllium partially attributed to an summation successful hashing power, arsenic Bitfarms besides reported an summation from 2.7 exahash per 2nd (EH/s) successful March to 3.3 EH/s, a 22% month-over-month increase.
“In aboriginal April, we surpassed our 3 exahash per 2nd extremity (EH/s) with the commencement of accumulation astatine our Leger farm, our ninth operating facility,” said Emiliano Grodzki, CEO of Bitfarms, successful the release. “This incremental capableness helped thrust our mean regular accumulation successful April to 13.5 BTC/day, up 15% from 11.7 BTC/day successful March, and I’m arrogant to accidental we exited April moving astatine implicit 14 BTC/day.”
Bitfarms achieved overmuch of its increases done the installation of 5,900 caller miners, which achieved the aforementioned 590 petahash per 2nd (PH/s) increase. The full electrical capableness roseate from 16 megawatts (MW) to 137 MW to accommodate not lone the summation of caller miners but aboriginal miners arsenic well.
The Leger tract successful Sherbrooke, Québec, was launched, bringing 16 MW of electrical capableness online and has capableness for up to 30 MW. Leger brings Bitfarms to 9 full mining operations globally.
“We proceed to beryllium connected way to implicit the physique retired of Leger successful May, arsenic good arsenic the 2nd signifier of operation astatine The Bunker successful June. These activities are intended to bring connected incremental capableness of 32 MW and, successful conjunction with ongoing miner installations, are expected to adhd astir 640 petahash per 2nd (PH/s) to our online hashrate,” Grodzki added.
Of the 405 BTC mined successful the period of April, 403 BTC were deposited into custody. This deposit leaves Bitfarms with a reserve of 5,646 BTC arsenic of April 30, 2022, representing a full worth of astir $218.5 cardinal astatine the clip of writing.
The institution reported that a proprietary bundle for the absorption of miners that was successful beta investigating for the past 9 months is presently being launched. The services offered volition let improved controls, tracking, sensors, alarms, visualizations and show metrics for hundreds of thousands of miners.
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