Canadian mining company Bitfarms reported that 391 BTC were mined on the company’s equipment in July, which is 90% more than in January this year, when 199 BTC was mined.
The vast majority of the mined bitcoins Bitfarms does not sell, but leaves for the future. The company now generates about 1.5% of the hashrate of the Bitcoin network, but agreements have already been concluded to supply 55,300 ASIC miners by the end of next year. After the launch of the equipment, the hashrate of Bitfarms miners will exceed 8 Eh / s.
“We are proud to have invested 96% of the bitcoins mined this year in our long-term holdings. Given how quickly we are expanding our business, we hope to increase our bitcoin production and savings, ”said Bitfarms founder and CEO Emiliano Grodzki.
In a press release, the company notes that 1,748 BTC were mined this year, the largest in North America. Of these coins, 1,678 BTC were sent to the vault, worth approximately $ 72 million.
Grodsky also said that the company was able to reduce operating costs and achieve discounts on already concluded deals for the supply of new ASIC miners. Back in March, it was reported that Bitfarms had signed an agreement to supply 48,000 MicroBT devices.
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