- Bitfarms launched a mining and manufacturing replace for May 2022.
- The firm 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 May 2022 displaying 431 BTC mined value about $16.6 million at time of writing, through a press release.
“During May, daily average production increased to 13.9 bitcoin/day, up 3% from 13.5 BTC/day in April,” stated Emiliano Grodzki, CEO of Bitfarms. “We completed the build out of Leger facility with 7,400 miners generating approximately 740 PH/s [petahashes per second]. Leger is now our single largest site with a production level nearly equivalent to Bitfarms entire hashrate at the end of Q2, 2020.”
Bitfarms at present performs 3.4 exahashes per second (EH/s) as of May 31, 2022 – which helped drive a 6% enhance from the earlier month in whole bitcoin mined. Of the 431 BTC mined final month, 429 (99.5%) have been positioned into custody. After this sediment, Bitfarms at present holds 6,075 BTC in custody which is at present value over $192.5 million.
“The second phase of construction at The Bunker is continuing and is expected to increase the site’s capacity to 30 MW when completed,” Grodzki defined. “With miner deliveries on schedule, we expect to have another solid month of growth as we build out our operational hashrate to our next goal of 4 exahash per second (EH/s) by the end of Q2.”
The mining firm additionally famous it had completely lowered its De La Pointe mining website down to 18 megawatts (MW) as a part of its relocation of assets to the Ledger website within the City of Sherbrooke, Quebec.
Currently the operations of Bitfarms are globally dispersed with seven industrial areas in Quebec, one in Paraguay, and one in Washington State. Of these mining websites, 99% are sustainably mined with hydro energy and maintain long-term energy contracts.