{"id":50531,"date":"2021-10-01T18:53:14","date_gmt":"2021-10-01T15:53:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=50531"},"modified":"2025-09-02T18:36:34","modified_gmt":"2025-09-02T15:36:34","slug":"bitfarms-boosts-bitcoin-production-by-38","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitfarms-boosts-bitcoin-production-by-38\/","title":{"rendered":"Bitfarms boosts Bitcoin production by 38%"},"content":{"rendered":"<p>The Toronto-listed Canadian mining company Bitfarms mined 1,050 BTC in Q3 2021. This was 38% higher than in the prior period.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitfarms has received and installed 540 Bitmain S19j Pro and 300 MicroBT M30S miners. The installation of these miners has increased Bitfarms\u2019 operating hashrate to 1.53 EH\/s.<\/p>\n<p>\ud83d\ude80 <a href=\"https:\/\/twitter.com\/search?q=%24BITF&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BITF<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BitcoinMining?src=hash&#038;ref_src=twsrc%5Etfw\">#BitcoinMining<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Blockchain?src=hash&#038;ref_src=twsrc%5Etfw\">#Blockchain<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/NasdaqListed?src=hash&#038;ref_src=twsrc%5Etfw\">#NasdaqListed<\/a> <a href=\"https:\/\/t.co\/uxPekCiYii\">pic.twitter.com\/uxPekCiYii<\/a><\/p>\n<p>\u2014 Bitfarms (@Bitfarms_io) <a href=\"https:\/\/twitter.com\/Bitfarms_io\/status\/1443924344116289549?ref_src=twsrc%5Etfw\">October 1, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>July was a record month for the company, when it mined 391 BTC. As the network hash rate recovered and mining difficulty rose, production declined to 354 BTC in August and 305 BTC \u2014 in September.<\/p>\n<p>The founder and CEO of Bitfarms, Emiliano Grodzki, acknowledged that reaching the quarterly peak in cryptocurrency production was aided not only by the company\u2019s investments in equipment, but also by the <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-hash-rate-plunges-amid-chinese-authorities-decisions\">consequences<\/a> of the crackdown on the crypto industry in China.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>After these events, which led to the <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-mining-difficulty-falls-by-almost-28\">largest drop in mining difficulty<\/a>, the network is gradually recovering, but the hashrate remains below <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-hash-rate-hits-all-time-high\">all-time highs<\/a>, he noted.<\/p>\n<\/blockquote>\n<p>In September the company received and installed 540 bitcoin miners, which allowed computing power to increase to 1.53 EH\/s. This was part of a batch of 2,200 units \u2014 Antminer S19j and Pro 300 devices from Whatsminer M30S.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>With <a href=\"https:\/\/u1f987.com\/en\/news\/bitfarms-acquires-48000-asic-miners-deliveries-set-to-begin-in-january-2022-and-to-be-completed-by-december-2022\">planned<\/a> regular deliveries totaling 55,000 miners over the next 15 months and the deployment of <a href=\"https:\/\/u1f987.com\/en\/news\/bitfarms-to-build-a-210-mw-bitcoin-mining-centre-in-argentina\">new high-performance facilities<\/a>, we will reach our targets \u2014 3 EH\/s in Q1 2022 and EH\/s by the end of 2022,<\/p>\n<\/blockquote>\n<p>As of September 30, the company had accumulated 2,312 BTC in reserves, about 96% of the coins mined by the firm in 2021.<\/p>\n<p>The Toronto-listed Bitfarms shares <a href=\"https:\/\/u1f987.com\/en\/news\/bitfarms-shares-fall-7-on-first-day-of-nasdaq-trading\"> on June 21 began trading on Nasdaq <\/a>.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Toronto-listed Canadian mining company Bitfarms mined 1,050 BTC in Q3 2021, up 38% from the prior period.<\/p>\n","protected":false},"author":1,"featured_media":50532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1184,1137],"class_list":["post-50531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitfarms","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=50531"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50531\/revisions"}],"predecessor-version":[{"id":50533,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/50531\/revisions\/50533"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/50532"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=50531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=50531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=50531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}