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Bitfarms Mined 339 Bitcoin in November as Network Difficulty Increased

Bitfarms Mined 339 Bitcoin in November as Network Difficulty Increased

Bitfarms Mined 339 Bitcoin in November as Network Difficulty Increased

Bitfarms attributed the performance to new mining equipment driving a 16% increase in the hashrate.

Bitfarms attributed the performance to new mining equipment driving a 16% increase in the hashrate.

Bitfarms attributed the performance to new mining equipment driving a 16% increase in the hashrate.

By Jamie Crawley
AccessTimeIconDec 1, 2021, 12:45 PM
Updated May 11, 2023, 4:01 PM
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Bitcoin mining company Bitfarms said it mined 339 bitcoins in November, down from 343 in October, as network difficult increased.

  • The Nasdaq and Toronto Stock Exchange-listed company reported Wednesday having mined 3,089 BTC in the first 11 months of the year.
  • Bitfarms said it was able to maintain production levels due to the delivery and installation of mining equipment, driving a 16% increase in the hashrate to 2.1 exahash per second (EH/s), attaining the target it set for the month after reaching 1.8 EH/s in October.
  • By reaching a hashrate of 2 EH/s in mid-November, Bitfarms had doubled its mining power in the last eight months.
  • During November, the firm received 400 MicroBT M30S miners and 3,588 Bitmain S19j Pro miners, with a further 702 of the latter scheduled for delivery in the first half of December.
  • “Even with an increase in network difficulty, our BTC production level held steady in November,” CEO Emiliano Grodzki said in a statement.

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Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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