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Seeking Alpha 2021-04-16 11:54:35

Bitfarms estimates total hashrate of 1.6 EH/s by August

Bitfarms (BFARF) recently completed two purchases of new-generation mining equipment manufactured by MicroBT to be installed through August post which 1,996 miners will produce an additional 160 PH/s.It has also commenced rehabilitation of older and mid-generation equipment that were previously cost-ineffective to repair which will lead to restoring equipment of ~80 PH/s of production to Bitfarms for a capital cost of ~$5 per TH/s.Bitfarms has mined and retained 650+ bitcoin in reserve, currently valued at $41M at $63,000 per Bitcoin and is adding ~7.5 Bitcoin per day to inventory. Bitfarms expects its mined Bitcoin inventory will grow to 1K Bitcoin within the next 50 days, representing ~$63M value for shareholders at prevailing prices.Assuming planned new miner purchases, ongoing miner repairs, Bitfarms expects to increase its total hashrate to ~1.6 EH/s by August; equipment will produce ~9.5 bitcoin per day.Bitfarms continues to actively move forward with a Nasdaq listing process.

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