Bitfarms Ltd. Provided operations update for July 2022. Mining Production was 3.8 EH/s online as of July 31, 2022, 270% from July 2021 and 6% from June 30, 2022. 500 new BTC mined during July 2022, up 28% from July 2021, and up 19% from June 2022.

16.1 BTC mined daily on average in July, equivalent to about USD 384,279 per day and approximately USD 12 million for the month based on a BTC price of USD 23,900 on July 31, 2022. 2,021 BTC in custody on July 31, 2022, representing a total value of approximately USD 48 million based on a BTC price of USD 23,900. BTC held in custody on July 31, 2022, reflects the sale of 1,623 BTC during July 2022.