Canadian Bitcoin Miner Bitfarms Doubles Hashrate to Over 2 EH/s

Canadian bitcoin miner Bitfarms (BITF) has doubled its mining capacity to more than 2 EH/s over the past eight months, the company said in a statement on Monday, giving it a larger share of the network’s hash rate.

Bitfarms founder and CEO Emiliano Grodzki said in the statement that as it continues to execute its expansion plans, it expects to continue to outpace the growth of the Bitcoin network to drive higher Bitcoin production in 2022.

Bitfarms has received and installed 1,500 S19j Pro miners in November, and plans to receive and install 2,701 Bitmain S19j Pro miners and 400 MicroBT M30S miners in the rest of November. Bitfarms has also purchased 48,000 MicroBT miners, which are scheduled to be delivered in 2022.