Bitfarms, a Bitcoin miner, boosted its Bitcoin production by 21% in June despite facing a takeover bid from Riot Platforms. The company mined 189 Bitcoin and sold 134 for $8.8 million, holding 905 Bitcoin worth $57 million. Production dropped by 51% due to a halving event. Bitfarms raised its hashrate to 11.4 exahashes per second, aiming for 21 EH/s by 2024. It upgraded its mining fleet by adding 39,000 new miners and shutting down less efficient ones. Operations expanded in the US and faced disruptions in Paraguay. Riot's $950 million buyout offer failed, with Bitfarms blocking attempts to acquire more than 14.9% stake. Despite challenges, Bitfarms remains resilient in the face of competition and market fluctuations. Read more AI-generated news on: https://app.chaingpt.org/news