Bitfarms Ltd. announced production results for the month ended May 2022. The company mined 3.4 EH/s online. 431 new BTC mined during May 2022, up 6% from May 2021.

13.9 BTC mined daily on average in May, equivalent to about USD 431,000 per day and approximately USD 13.3 million for the month based on a BTC price of USD 31,000 on May 31, 2022. 429 BTC from mining operations deposited into custody in May. 6,075 BTC in custody on May 31, 2022, representing a total value of approximately USD 188 million based on a BTC price of USD 31,000.

Completed the build out at the Leger site in City of Sherbrooke, Québec. Permanently reduced De la Pointe site down to 18 MW as part of phased relocation and expansion within the City of Sherbrooke.