Bitfarms, a Bitcoin self-mining company, recently revised its Bitcoin production and mining activities for April 2022.
According to the report, Bitfarms currently holds 5,646 BTC in custody as of April 30, 2022, representing a total worth of approximately $217 million based on the current BTC price of $38,500. In addition, 405 new BTC were mined in April 2022, a 75% increase from the previous year.
It starts to break down this figure as an average of 13.5 BTC mined daily in April, which equals over $520,000 per day and $15.6 million for the month based on a BTC price of $38,500 on April 30, 2022.
The mining company also states that mining momentum increased throughout April, with new miner installations increasing hashrate to over 3.3 EH/s at the end of the month, up 22% from 2.7 EH/s at the end of March.
Bitfarms is not the only firm that has a significant amount of BTC in its hands. According to an April 5 regulatory filing, business intelligence company MicroStrategy reported 129,218 Bitcoins after acquiring 4,167 Bitcoins between February 15 and April 4.
Bitcoin, the world’s largest cryptocurrency, is currently trading slightly in the green, at $38,810 on major spot exchanges. Despite recent market volatility, Bitcoin remains 43.65% behind its all-time high.
Bitcoin fell gradually from a high of $43,109 on April 21 to trade at $37,590 on April 30. Bitcoin gained support in this area and began to rise. Then it soared to a high of $39,181 before falling slightly. Following the recent corrections, most cryptocurrencies are also slightly in the green.
