According to ChainCatcher, Bitcoin mining company Bitfarms reported that its revenue increased by 34% month-on-month due to increased mining power after mining machine upgrades and expansions. In July, Bitfarms produced 253 BTC, which is worth about $16.2 million at current market prices, a significant increase from the 189 BTC ($12.1 million) produced in June.
The company reported 11.1 EH/s of operating power as of July 31, up 109% year-over-year and 7% month-over-month. Additionally, the company’s average operating power in July was 10.3 EH/s, up 36% from June.