Bitfarms Mined 459 Bitcoins in May
Bitfarms mined 459 Bitcoins in May, up 21.1% from April, despite an increase in mining difficulty of 44.9% since the start of 2021 (5.2% in May specifically).
The price of Bitcoin had also gained 63.5%, resulting in a 26.7% increase in mining yield when measured in terms of USD per TH.
The firm’s hash rate remained the same month-on-month at 5 EH/s, with increased transaction fees playing a significant part in the boost in BTC production.
About 414 BTC of the cryptocurrency mined in May was sold while the remaining 45 BTC was added to the company’s reserves, now standing at 510 bitcoins.
In order to increase the capacity of Bitfarms’ data center (construction which began in 2021), 2,900 out of 6,200 MicroBT ASIC miners ordered by the company arrived at its Rio Cuarto facility (Argentina).
An additional 3,300 units from Bitmain remain in transit. If the entire batch is dispensed accordingly, the firm will move closer to its goal of attaining 6 EH/s by year end.
