Toronto-listed bitcoin miner Bitfarms (TSX-V:BITF) has seen an impressive surge in mining output in recent months, but even more aggressive growth is earmarked for the year ahead.
In December 2023 alone, Bitfarms (TSX-V:BITF) earned 446 Bitcoin BTC, a 13.8% increase from the previous month, culminating in a total of 4,928 BTC for the year.
On average, 14.4 BTC were earned daily, equating to approximately $612,000 per day, based on the BTC price of $42,500 on December 31, 2023.
Bitfarms’ hashrate saw a substantial year-over-year increase of 44%, reaching 6.5 exahashes per second (EH/s) at the end of December.
The company also expanded its total contracted capacity to 593 megawatts, demonstrating its commitment to growth and efficiency.
In terms of mining efficiency, there was an 8% increase to 71.7 BTC per average EH/s from 66.4 in November 2023.
Bitfarms noted operational highlights in its mining facilities.
In Paso Pe,…
