Bitfarms Boosts Bitcoin Production by 21% in June
Bitfarms boosts Bitcoin production by 21% in June amid takeover attempts by Riot Platforms.
Bitfarms produced 189 Bitcoin and sold 134 BTC for $8.8 million in June.
Bitfarms now holds 905 Bitcoin, valued at $57 million, despite a 51% annual production drop due to halving.
Bitfarms' installed hashrate hit 11.4 EH/s in June, marking a 96% yearly and 39% monthly increase.
Bitfarms upgraded its fleet with 39,000 new miners, enhancing efficiency and adding a new U.S. site for 8 EH/s.
Bitfarms' operations in Paraguay were affected by severe weather, but a slight network difficulty decrease mitigated the impact.
Riot Platforms' $950M buyout bid for Bitfarms failed, but Riot acquired a 14.9% stake and sought board changes
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