PANews reported on December 2 that according to Globenewswire, Bitcoin mining company Bitfarms released its latest monthly production report. The company's mining operations produced 204 BTC in November, compared with 236 BTC in October, reflecting a 1% increase in the average operating EH and a 7% increase in Bitcoin difficulty. The operating speed on November 30 was 12.8 EH/s, a year-on-year increase of 100% and a month-on-month increase of 11%. The company's BTC mining output has totaled 4,482 since the beginning of the year.
In addition, Bitfarms sold 171 of the 204 BTC earned from the company's regular fund management business, with a total proceeds of $14.6 million. According to the mining machine upgrade agreement announced on November 12, Bitfarms added 33 BTC to the treasury from the mining business and transferred 351 bitcoins to Bitmain. Taking into account the transfer of funds from Bitcoin to Bitmain, the Bitfarms treasury held 870 bitcoins at the end of November, down from 1,188 bitcoins last month, worth $84.4 million based on the Bitcoin price of $97,000 on November 30.
