{"id":23806,"date":"2023-10-02T19:45:54","date_gmt":"2023-10-02T19:45:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitfarms-reports-a-7-3-increase-in-its-monthly-mining-output\/"},"modified":"2023-10-02T19:45:54","modified_gmt":"2023-10-02T19:45:54","slug":"bitfarms-reports-a-7-3-increase-in-its-monthly-mining-output","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitfarms-reports-a-7-3-increase-in-its-monthly-mining-output\/","title":{"rendered":"Bitfarms reports a 7.3% increase in its monthly mining output"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/rsz_kanchanara-9pcv2mb65y8-unsplash_2-min-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/rsz_kanchanara-9pcv2mb65y8-unsplash_2-min-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/rsz_kanchanara-9pcv2mb65y8-unsplash_2-min-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/rsz_kanchanara-9pcv2mb65y8-unsplash_2-min-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Bitfarms produced 411 bitcoins last month and sold 362.<\/li>\n<li>The Canadian miner is still lagging behind last year\u2019s figures.<\/li>\n<li>Bitfarms stock is currently down 40% versus its recent high.<\/li>\n<\/ul>\n<p>Bitfarms Ltd says its mining output popped 7.3% in September as it continued to install new miners and \u201cfully energised\u201d its facility in Rio Cuarto to 51 MW.<\/p>\n<h2>Bitcoin still holds 703 BTC in total<\/h2>\n<p>The Canadian miner produced a total of 411 bitcoins last month \u2013 of which it sold 362 for about $9.5 million. Geoff Morphy \u2013 the Chief Executive of Bitfarms said in a <a href=\"https:\/\/www.globenewswire.com\/news-release\/2023\/10\/02\/2752626\/0\/en\/Bitfarms-Mines-411-BTC-in-September-2023.html\" target=\"_blank\" rel=\"noopener\">press release<\/a> today:<\/p>\n<blockquote>\n<p>We continue to believe that many of our best opportunities for growth and investment will arise around the next Bitcoin halving expected to occur in April 2024.<\/p>\n<\/blockquote>\n<p>The Toronto-headquartered firm still holds nearly $20 million worth of Bitcoin (703 in total). Its total operating capacity now sits at 233 MW.<\/p>\n<p>Shares of the <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-mining\/\">bitcoin mining<\/a> company are still down about 40% versus their recent high.<\/p>\n<h2>Bitfarms is still lagging last year\u2019s figures<\/h2>\n<p>Bitfarms is committed to strengthening its balance sheet and infrastructure ahead of the halving event next year \u2013 by which, it expects to have paid off under $10 million it still has in debt.<\/p>\n<p>The bitcoin mining company now has a total operating capacity of 233 MW. Its hash rate improved another 9.0% in September to 6.1 exahashes per second (EH\/s).<\/p>\n<p>Bitfarms wanted its hash rate to hit 6.3 EH\/s in the third quarter but \u201celectrical infrastructure delays\u201d at its Baie-Comeau facility saw it come a bit shy of the target.<\/p>\n<p>Note that the Canadian miner is still trailing the numbers it reported last year. Bitfarms mined 3,692 BTC in the first nine months of this year versus 3,733 <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin<\/a> in the equivalent period of 2022. Wall Street currently has a consensus \u201cbuy\u201d rating on BITF.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitfarms-monthly-mining-output-increase\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitfarms produced 411 bitcoins last month and sold 362. The Canadian miner is still lagging behind last year\u2019s figures. Bitfarms stock is currently down 40% versus its recent high. Bitfarms Ltd says its mining output popped 7.3% in September as it continued to [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":23807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23806"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23806"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23807"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}