Bitfarms Releases May 2022 Bitcoin Mining Update

    • Bitfarms released a mining and production update for May 2022.
    • The company mined a total of 431 BTC valued at $16.6 million and deposited 429 BTC into custody (99%).
    • The miner now holds 6,075 BTC, currently valued at over $192.5 million.

    Bitfarms (NASDAQ: BITF, TSX: BITF), a publicly-traded bitcoin mining company, released its production and mining update for May 2022 showing 431 BTC mined worth about $16.6 million at time of writing, via a press release.

    “During May, daily average production increased to 13.9 bitcoin/day, up 3% from 13.5 BTC/day in April,” said Emiliano Grodzki, CEO of Bitfarms. “We completed the build out of Leger facility with 7,400 miners generating approximately 740 PH/s [petahashes per second]. Leger is now our single largest site with a production level nearly equivalent to Bitfarms entire hashrate at the end of Q2, 2020.”

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