Bitfarms Mined 339 Bitcoin in November as Network Difficulty Increased

Mining company Bitfarms said it mined 339 bitcoins in November, down from 343 in October, as network difficult increased.

The Nasdaq and Toronto Stock Exchange-listed firm reported Wednesday having mined 3,089 BTC in the first 11 months of the year.Bitfarm said it was able to maintain production levels due to the delivery and installation of mining equipment, driving a 16% increase in the hashrate to 2.1 exahash per second, attaining the target it set for the month after reaching 1.8 EH/s in October.By reaching a hashrate of 2 EH/s in mid-November, Bitmain had doubled its mining power in the last eight months.During November, the firm received 400 MicroBT M30S miners and 3,588 Bitmain S19j Pro miners, with a further 702 of the latter scheduled for delivery in the first half of December.“Even with an increase in network difficulty, our BTC production level held steady in November,” CEO Emiliano Grodzki said in a statement.

Read more: Crypto Miner Sell-Off ‘Too Much Too Fast,’ Says DA Davidson Analyst

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