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    BITF   CA09173B1076

BITFARMS LTD.

(BITF)
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Bitfarms Ltd. Provides Bitcoin Production Update

07/14/2021 | 07:00am EDT

Bitfarms Ltd. announced a Bitcoin production update. Mining Production Highlights as of July 12, 2021. Using green hydroelectricity, Bitfarms mined 1,357 Bitcoin in the first six months of 2021, the larger number of Bitcoin mined in North America as reported by publicly traded miners. Deposited 1,445 Bitcoin into custody through July 12, representing over 95% of the Company’s Bitcoin production this year. Mined 265 new Bitcoin during June 2021, Bitfarms’ monthly production rate achieved in 2021 and approximately one-third more than Bitfarms’ mining production in January 2021. Received and installed 1,500 Bitcoin miners from MicroBT in Bitfarms’ Magog data center, adding 120 PH/s of total production in June 2021. On July 3, the Bitcoin network experienced its difficulty drop in history due to recent macro developments in China. This has resulted in Bitfarms producing significantly higher quantities of Bitcoin at a lower cost per Bitcoin produced. In the first 12 days of July, Bitfarms mined 158 Bitcoin, more than half of June’s year-to-date record Bitcoin production rate. Based on current mining conditions, Bitfarms projects to mine over 400 Bitcoin in the month of July, which would imply over 100% more Bitcoin production than January and over 50% more than in June.


ę S&P Capital IQ 2021
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More news
Financials (USD)
Sales 2021 164 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 794 M 798 M -
Capi. / Sales 2021 4,85x
Capi. / Sales 2022 3,54x
Nbr of Employees -
Free-Float 76,5%
Chart BITFARMS LTD.
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Bitfarms Ltd. Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 4,61 $
Average target price 6,62 $
Spread / Average Target 43,5%
Managers and Directors
Emiliano Joel Grodzki Chief Executive Officer & Director
L. Geoffrey Morphy President
Jeffrey P. Lucas Chief Financial Officer
Nicolas Bonta Executive Chairman & Chief Development Officer
Brian M. Howlett Lead Independent Director
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