Canadian Bitcoin (BTC) mining firm has significantly increased its production capacity this year, with a focus on better opportunities leading up to the upcoming BTC halving. According to a press release on October 2nd, the company has ramped up its hashrate, capacity, and efficiency in its mining operations for September.
Last month alone, the mining firm generated a total of 411 BTC, of which 362 BTC were sold for approximately $9.5 million. This brings the company’s current asset holdings to 703 BTC, which is worth around $20 million. The company experienced significant growth in just a month, increasing its BTC mining output from 383 in August to 411 in September, resulting in a 7.3% growth.
The mining firm attributes its higher productivity to the addition of new facilities in its mining sites and favorable weather conditions across the continent. As more investors are attracted to the industry in anticipation of higher Bitcoin prices after the crypto winter, the network difficulty has also increased by 2.7% last month. In fact, network difficulty has surged by 61.5% this year, while prices have risen by 63.2% during the same period.
