2 years ago
Bitfarms, a publically traded miner, released its bitcoin mining update showing 431 BTC mined with 6,075 BTC ($192 million) held successful custody.
- Bitfarms released a mining and accumulation update for May 2022.
- The institution mined a full of 431 BTC valued astatine $16.6 cardinal and deposited 429 BTC into custody (99%).
- The miner present holds 6,075 BTC, presently valued astatine implicit $192.5 million.
Bitfarms (NASDAQ: BITF, TSX: BITF), a publicly-traded bitcoin mining company, released its accumulation and mining update for May 2022 showing 431 BTC mined worthy astir $16.6 cardinal astatine clip of writing, via a press release.
“During May, regular mean accumulation accrued to 13.9 bitcoin/day, up 3% from 13.5 BTC/day successful April,” said Emiliano Grodzki, CEO of Bitfarms. “We completed the physique retired of Leger installation with 7,400 miners generating astir 740 PH/s [petahashes per second]. Leger is present our azygous largest tract with a accumulation level astir equivalent to Bitfarms full hashrate astatine the extremity of Q2, 2020.”
Bitfarms presently performs 3.4 exahashes per 2nd (EH/s) arsenic of May 31, 2022 – which helped thrust a 6% summation from the erstwhile period successful full bitcoin mined. Of the 431 BTC mined past month, 429 (99.5%) were placed into custody. After this deposit, Bitfarms presently holds 6,075 BTC successful custody which is presently worthy implicit $192.5 million.
“The 2nd signifier of operation astatine The Bunker is continuing and is expected to summation the site’s capableness to 30 MW erstwhile completed,” Grodzki explained. “With miner deliveries connected schedule, we expect to person different coagulated period of maturation arsenic we physique retired our operational hashrate to our adjacent extremity of 4 exahash per 2nd (EH/s) by the extremity of Q2.”
The mining institution besides noted it had permanently reduced its De La Pointe mining tract down to 18 megawatts (MW) arsenic portion of its relocation of resources to the Ledger tract successful the City of Sherbrooke, Quebec.
Currently the operations of Bitfarms are globally dispersed with 7 concern locations successful Quebec, 1 successful Paraguay, and 1 successful Washington State. Of these mining sites, 99% are sustainably mined with hydro powerfulness and clasp semipermanent powerfulness contracts.
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