Bitfarms Mines 5,167 Bitcoin in 2022, Up 50% YoY

Canada-based bitcoin miner Bitfarms Ltd. released today its Bitcoin (BTC) mining update for December 2022 and the entire year. The BTC mined for the year came in at 5,167, rising around 50% from 3,453 in 2021.

The crypto miner mined 496 BTC in December, with averaged 16 BTC mined per day in the month. While the figures for the prior month and December 2021 were 453 and 363, respectively.

The miner's hashrate reached 4.5 EH/s as of December 2022, up 105% from December 2021 and up 2% compared to November 30, 2022.

"In December, we energized the remaining portions of The Bunker and Garlock farms, executing our Canadian expansion plan two and one-half months ahead of schedule," said Geoff Morphy, CEO of Bitfarms.

"During 2022, we navigated a challenging year. We increased our financial flexibility during the year and are poised to explore emerging equipment and expansion opportunities during this period of industry consolidation," Geoff Morphy added.