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Bitfarms Doubles Hashrate to More Than 2 EH/s
Bitcoin miner Bitfarms has received and installed 1,500 S19j Pro miners so far in November.
By Aoyon Ashraf
Updated Apr 10, 2024, 2:06 a.m. Published Nov 15, 2021, 2:11 p.m.
Bitfarms (BITF), the Canadian bitcoin miner, has doubled its mining power over the last eight months, the company said in a statement on Monday.
- The company has increased its hashrate to exceed 2 exahash per second (EH/s) at the same time when the Bitcoin network has grown about 12%, allowing it to gain a larger share of the network hashrate. Hashrate is a measure of the total amount of computer processing power securing a proof-of-work cryptocurrency.
- “As we continue to execute on our expansion plans, we expect to continue to outpace Bitcoin network growth to drive even higher bitcoin production numbers throughout 2022,” said Emiliano Grodzki, Bitfarms founder and CEO, in the statement.
- Bitfarms has already received and installed 1,500 S19j Pro miners in November, and has 2,701 Bitmain S19j Pro mining machines and 400 MicroBT M30S miners that are scheduled to be received and installed throughout the remainder of November.
- Bitfarms has also purchased 48,000 MicroBT miners, which are scheduled for delivery in 2022.
- On Nov. 1, Bitfarms said it planned to grow its mining capacity to more than 2 EH/s after hitting a record hashrate of 1.8 EH/s in October.
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- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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