Bitfarms Q3-till date production equals entire Q2, custody holds $101M worth bitcoins

Bitfarms (NASDAQ:BITF) reported 354 new mined bitcoins during August while the first two months of Q3 mark 745 new mined bitcoin which is equivalent to ~98% of Bitfarms entire Q2 bitcoin production. In the first eight months of 2021, the company has mined 2,102 bitcoins. Through Sep.1, the company has deposited 2,028 bitcoins into custody, valued at ~$101.4M based on bitcoin price of $50K. Before September end, the company is scheduled to receive its first delivery of 7,230 Bitmain S19j Pros which will be deployed to replace Bitmain S9s. Bitfarms’ Cowansville, Quebéc, facility is now operational and expected to be running at full capacity by this month's end; it will contribute ~100 Petahash above the current production level. "As we execute on our expansion plans, we are excited to surpass 2 Exahash per second in the coming months and continue to add most of our mined Bitcoin to treasury at an even faster rate