11:59 AM EDT, 10/01/2024 (MT Newswires) -- Bitfarms ( BITF ) on Tuesday said it earned 217 bitcoin (BTC) in September, dropping from 411 BTC in September 2023 and down from 233 BTC earned in August.

Bitfarms ( BITF ) said bitcoin difficulty increased 1.2% in September, resulting in lower month over month production.

BTC sold stood at 173 in September, compared to 362 BTC sold in September 2023 and 147 BTC sold in August.

"We are pleased to have reached our end-of-year efficiency goal of 21 w/TH three months ahead of schedule, allowing us to expect an increase in gross data center profitability with current mining economics," CEO Ben Gagnon said. "We drove a 16% increase in energy efficiency in September by swapping out thousands of miners and implementing energy efficiency measures across our facilities."

Bitfarms ( BITF ) shares were last seen down $0.14 to $2.71 on the Toronto Stock Exchange

Price: 2.71, Change: -0.14, Percent Change: -4.91