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 Companys 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 Junes 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.