- Bitfarms, a publicly traded bitcoin mining firm, launched bitcoin manufacturing outcomes and a mining operations replace for April 2022.
- The whole income reached 405 BTC for the month, netting a complete of $15.6 million.
- Of the 405 BTC mined, 403 BTC have been deposited into custody, leaving Bitfarms with a reserve of 5,646 BTC, value roughly $218 million.
Bitfarms Ltd. (Nasdaq: BITF, TSX: BITF), a globally distributed mining firm, launched a manufacturing replace for April 2022 detailing a rise of 75% year-over-year (YoY) in bitcoin mined, per a press launch despatched to Bitcoin Magazine.
Bitfarms reported that it mined a complete of 405 BTC, value about $15.6 million, final month, with a each day common of 13.5 BTC, value roughly $522,000 on the time of writing. The notable improve could be partially attributed to a rise in hashing energy, as Bitfarms additionally reported a rise from 2.7 exahash per second (EH/s) in March to 3.3 EH/s, a 22% month-over-month improve.
“In early April, we surpassed our 3 exahash per second goal (EH/s) with the start of production at our Leger farm, our ninth operating facility,” mentioned Emiliano Grodzki, CEO of Bitfarms, within the launch. “This incremental capacity helped drive our average daily production in April to 13.5 BTC/day, up 15% from 11.7 BTC/day in March, and I’m proud to say we exited April running at over 14 BTC/day.”
Bitfarms achieved a lot of its will increase via the set up of 5,900 new miners, which achieved the aforementioned 590 petahash per second (PH/s) improve. The whole electrical capability rose from 16 megawatts (MW) to 137 MW to accommodate not solely the addition of latest miners however future miners as properly.
The Leger website in Sherbrooke, Québec, was launched, bringing 16 MW {of electrical} capability on-line and has capability for up to 30 MW. Leger brings Bitfarms to 9 whole mining operations globally.
“We continue to be on track to complete the build out of Leger in May, as well as the second phase of construction at The Bunker in June. These activities are intended to bring on incremental capacity of 32 MW and, in conjunction with ongoing miner installations, are expected to add approximately 640 petahash per second (PH/s) to our online hashrate,” Grodzki added.
Of the 405 BTC mined within the month of April, 403 BTC have been deposited into custody. This deposit leaves Bitfarms with a reserve of 5,646 BTC as of April 30, 2022, representing a complete worth of roughly $218.5 million on the time of writing.
The firm reported {that a} proprietary software program for the administration of miners that was in beta testing for the previous 9 months is at the moment being launched. The providers supplied will enable improved controls, monitoring, sensors, alarms, visualizations and efficiency metrics for a whole lot of 1000’s of miners.
