Bitfarms reports rising bitcoin monthly production

Bitfarms ( NASDAQ: BITF ) trades 12% higher premarket afterv reporting an increase in bitcoin production from 383 to 411 in September. The company sold 362 BTC of the 411 BTC mined, generating total proceeds of $9.5M. The company added 49 BTC to treasury, increasing custody to 703 BTC, representing approximately $19.0 million based on a BTC price of $27,000 at September 30, 2023. $46 million in cash and cash equivalents at September 30, 2023. 6.1 EH/s online as of September 30, 2023, up 45% from September 30, 2022, and up 9% from August 31, 2023. 5.84 EH/s average online, up 13.7% from August 2023. 70.4 BTC/average EH/s, down 5.6% from 74.6 in August 2023. 13.7 BTC mined daily on average, equivalent to about $369,900 per day and approximately $11.1 million for the month based on a BTC price of $27,000 on September 30, 2023. Installed 4,600 miners. Monthly Production: Month BTC Mined 2023 BTC Mined 2022 January 486 301 February 387 298 March 424 363 April 379 405 May 459 431 June 385 420 July 378 500 August 383 534 September 411 481 Total YTD 3,692 3,733