02.06.2023

Bitcoin miner Bitfarms was able to mine more than 450 coins last month

In May, the Bitfarms crypto company, which is engaged in the extraction of the first cryptocurrency, was able to extract about 459 coins. Thanks to this, the production of digital coins was increased by more than 21% compared to the previous month.

More about mining


Since the beginning of this year, the hashrate in the bitcoin crypto network has grown by almost 50%. In May alone, the indicator grew by 5.2 percent. At the same time, the value of the first cryptocurrency increased by approximately 63.5%. This information was provided by the crypto company. As a result of this gap, the profitability of bitcoin mining increased by almost 27% in the USD/TH ratio.


Gagnon noted that with the average cost of Bitcoin over the past month, which was $ 27.5 thousand, the company was able to make a profit from operating activities and as a result of the expected payments on debts and interest.


Of the coins mined over the past month, the crypto company was able to sell 414 coins. The remaining tokens were put into reserves. Now their amount is 510 coins.

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