Bitfarms Monthly Production Report: In November, the mining output was 204 BTC, and the company's Bitcoin reserves currently stand at 870 BTC

ChainCatcher news, according to Globenewswire, Bitcoin mining company Bitfarms has released its latest monthly production report. The company mined 204 BTC in November, down from 236 BTC in October, reflecting a 1% increase in average operating EH and a 7% increase in Bitcoin difficulty. The operational speed on November 30 was 12.8 EH/s, a year-on-year increase of 100% and a month-on-month increase of 11%. Year-to-date, the company's BTC mining output totaled 4,482 BTC.

In addition, Bitfarms sold 171 of the 204 BTC earned from its regular fund management operations, with total proceeds of $14.6 million. According to the mining machine upgrade agreement announced on November 12, Bitfarms added 33 BTC to its treasury from mining operations and transferred 351 Bitcoins to Bitmain. Considering the fund transfer of Bitcoin to Bitmain, Bitfarms' treasury held 870 Bitcoins at the end of November, down from 1,188 Bitcoins the previous month. Based on the Bitcoin price of $97,000 on November 30, this is valued at $84.4 million.