Bitfarms mined 21% more Bitcoin in June amid Riot takeover attempts
Bitfarms increased its online hashrate to 10.4 exahashes per second in June, marking a 39% month-on-month increase.
Bitcoin miner Bitfarms upped its month-on-month Bitcoin (BTC) production by 21% in June whilst fending off attempts of a company takeover by Riot Platforms, one of its biggest competitors.
Bitfarms mined 189 Bitcoin in the month and sold 134 of those Bitcoins for $8.8 million, the firm revealed in a July 1 statement. It now holds 905 Bitcoin, worth $57 million, in its treasury.
However, its Bitcoin production fell 51% compared to June, 2023, due to the latest halving event slicing the block subsidy by 50%.
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Author: Brayden Lindrea
