Bitfarms trades high on rising bitcoin monthly production, hashrate crosses 1.8 EH/s

Bifarms (NASDAQ:BITF) trades 4.3% higher premarket after reporting an increase in October bitcoin production to 343 from 305 in September taking the total BTC (BTC-USD) mined to 2,750 in the first ten months of 2021. As of effective Oct.25, the company reported 1.8 EH/s. The company mined 11+ BTC mined daily on average, equivalent to about $665K/day based on a BTC price of $60.5K on Oct. 31. Through Oct.31, the company deposited 2,646 BTC into custody for the year representing ~96% of Bitfarms' 2021 BTC production with a total value of ~$160M based on a BTC price of $60.5K. In October Bitfarms' mining operations, 2,869 Bitmain S19j Pro miners received and installed, 300 MicroBT M30S miners received and installed. The remaining 4,361 Bitmain S19j Pro and 400 MicroBT M30S miners scheduled for delivery this year are underway and are expected to be received in multiple batches in November. Construction on high-power production facilities