Golden Finance reported that in June, Bitfarms' production increased by 21%, while fending off a takeover attempt by RiotPlatforms, one of its biggest competitors. Bitfarms revealed in a statement on July 1 that the company mined 189 bitcoins that month and sold 134 of them for $8.8 million. The company currently holds 905 bitcoins, worth $57 million. However, due to the recent halving event that cut the block subsidy by 50%, its Bitcoin production fell 51% compared to June 2023. Bitfarms increased its installed hash rate to 11.4EH per second in June, with an online rate of 10.4EH/s, a year-on-year increase of 96% and a month-on-month increase of 39%. And it is still expected to achieve the goal of 21EH/s by the end of 2024.