Bitfarms Mined 391 Bitcoin 99% Clean Energy July

Bitcoin miner Bitfarms has announced updates on its mining operations, including production and energy mix usage, as well as the company’s HODL strategy for bitcoin. The company has mined around 13 BTC per day with 99% clean energy.

Bitfarms mined 391 new bitcoin during July 2021, the company’s most significant production rate in the year and approximately 96% more than its mining production in January 2021. The miner estimates it is mining between 12.5 and 13.5 BTC per day.

In the first seven months of 2021, the company has mined an aggregated total of 1,748 bitcoin. Bitfarms also shared that it has deposited 1,678 BTC into custody through August 1, 2021, a figure that represents around 96% of the firm’s bitcoin production during this year. Based on the monthly closing price of July, the company has put $69.8 million in bitcoin on its balance sheet.

Leave a Reply

Your email address will not be published. Required fields are marked *