Bitfarms Expects Hashrate to Increase to 2EH/s From 1.8EH/s Achieved Oct 25th

October 2021 Bitfarms’ Mining Production Update

1.8 EH/s achieved effective October 25, 2021.
343 new Bitcoin (BTC) mined during October 2021.
2,750 BTC mined in the first ten months of 2021.
11+ BTC mined

October 2021 Bitfarms’ Mining Production Update

• 1.8 EH/s achieved effective October 25, 2021.
• 343 new Bitcoin (BTC) mined during October 2021.
• 2,750 BTC mined in the first ten months of 2021.
• 11+ BTC mined daily on average, equivalent to about US$ 665,500 per day based on a BTC price of US$60,500 on October 31.
• 2,646 BTC deposited into custody for the year through October 31, 2021, representing approximately 96% of Bitfarms’ 2021 BTC production with a total value of approximately US$160 million based on a BTC price of US$60,500.

October 2021 Bitfarms’ Mining Operations Highlights

• 2,869 Bitmain S19j Pro miners received and installed.
• 300 MicroBT M30S miners received and installed.
• The remaining 4,361 Bitmain S19j Pro and 400 MicroBT M30S miners scheduled for delivery this year are en route and are expected to be received in multiple batches in November.
• The Cowansville, Québec, farm operated at its fully energized, upgraded capacity of 17 MW for the month, which is a net increase of 13 MW.
• Construction commenced on two new farms in Sherbrooke, Québec, increasing our farms in development from two (Argentina and Paraguay) to four (Argentina, Paraguay and Quebec).
• Construction also began on a farm in Argentina within the gates of a private power company that will not receive any government subsidies.

Bitfarms’ BTC 2021 Monthly Production