Bitfarms, a Bitcoin mining company, reported a 34% increase in monthly income thanks to upgrading and expanding its mining fleet.
July: Generated 253 $BTC, worth $16.2 million.
June: Won 189 $BTC, worth $12.1 million.
🟢Cause: Thanks to upgrading the excavator team. As of July 31, the company had 11.1 exahashes (EH/s) in operation, up 109% year over year and 7% month over month.
🔵 Performance: Average EH/s in July was 10.3, up 36% compared to June.
🔵 After the Bitcoin Halving Event:
Plan: Triple hashrate, invest $240 million to upgrade equipment, add 88,000 new miners.
Income: Increased 62% since the halving event.
🔵 CEO Ben Gagnon:
"This demonstrates our professionalism and efficiency. We are well positioned for growth and creating value for shareholders."
🔵 Important Locations:
Paso Pe, Paraguay: Fully operational.
Yguazu: Under construction with four warehouses.
Hashrate Below Target:
The current hashrate is below the target of 12 EH/s due to some miners overheating. The company is working with Bitmain to replace the machine, which is expected to be delivered in August.
🔗 Source: https://t.me/cryptoanalysisvn/January 1909
#Bitfarms #cryptonews #bitcoin #Mining #Blockchain
