Bitfarms reports 21.8% growth in March mined bitcoin

"Adding 400 petahash per second to our hashrate in March, we are rapidly approaching our goal of 3 EH/s, which we expect to reach within the next week," Bitfarms (NASDAQ:BITF) CEO Emiliano Grodzki commented. For March 2022, the company reported 2.7 EH/s online compared to 2.3 EH/s as of Feb. 28, 2022; it mined 363 new BTC (+64% Y/Y) compared to 298 new BTC mined during February 2022. Daily average in March stood at 11.7 BTC which is equivalent to ~$538K/day and ~$16.7M based on BTC price of $46K on Mar.31, 2022. With 5,243 BTC (representing ~$244M) in custody as of Mar.31, 2022, 360 BTC from mining was deposited in March. The company commenced production at The Bunker in the City of Sherbrooke, Québec, adding capacity of 12 MW with installation of 3K+ new miners adding 300+ PH/s to Bitfarms' online hashrate. On Mar.31, 2022, the company made an additional draw of $40M from its $100M credit