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.

AccessTimeIconNov 15, 2021 at 2:11 p.m. UTC
Updated May 11, 2023 at 5:51 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.
  • How NEAR Enables Multichain Access From One Account
    00:56
    How NEAR Enables Multichain Access From One Account
  • Why the NEAR foundation Chose Eigenlayer as a Security Partner
    00:54
    Why the NEAR foundation Chose Eigenlayer as a Security Partner
  • Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
    07:08
    Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
  • How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
    01:11
    How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Aoyon Ashraf

    Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


    Read more about