Bitfarms Canada Reveals Over 20 Increase in Crypto Production

Despite facing challenges, Canadian Bitcoin mining company Bitfarms saw a 21% increase in BTC production in June. It mined 189 BTC and sold 134, generating revenues of $8.8 million. However, this production reflects a 51% decrease compared to June 2023, mainly due to the recent halving event that reduced miners’ rewards by 50%, impacting global Bitcoin mining. June was crucial for Bitfarms in improving mining capabilities. The company increased its hash rate to 11.4 exahashes per second (EH/s), with 10.4 EH/s already operational. Read more:

Robinhood is considering launching cryptocurrency futures in the United States and Europe. This represents a significant increase of 96% on an annual basis and 39% on a monthly basis. Bitfarms’ goal is to reach 21 EH/s by the end of 2024. As of July 1, the company holds 905 Bitcoin tokens worth approximately $57 million.