Bitfarms earns 253 bitcoin in July

“As we continue to execute on the fleet upgrade program, we are gaining market share and driving increasing amounts of Bitcoin mined month-over-month. Since the halving event in April, our Bitcoin mined per month has increased 62%. This speaks volumes to our operational expertise and improved efficiency, and I am confident that we are well-positioned to further accelerate our growth and drive value for shareholders,” said Ben Gagnon, Chief Executive Officer. July 2024 Select Operating Highlights: 11.1 EH/s operational at July 31, 2024, up 109% Y/Y and 7% M/M. 10.3 EH/s average operational, up 36% M/M. 24.6 BTC/average EH/s, down 1% from the previous month due to the increase in network difficulty, offset by the installation of Bitmain T21 miners. 253 BTC earned, 34% higher M/M and 33% lower Y/Y. 8.2 BTC earned daily on average, equal to ~$542,000 per day based on a BTC price of $66,100 at July 31, 2024. In Quebec, At Baie-Comeau, expansion work is progressing on schedule for the 12 MW expansion to 22 MW which is scheduled to be energized on September 1, 2024. In Paraguay, At Paso Pe, all five warehouses and eight hydro containers have been fully energized and are actively hashing. At Yguazu, construction is progressing rapidly and remains on schedule.