Bitcoin miner Bitfarms (NASDAQ:BITF) mined 1,051 Bitcoin (BTC) during Q3 2021, up 38% from 759 BTC in Q2 2021, and reduced the average cost of BTC production to $6,900/BTC, down 23% from $9,000/BTC in Q2 2021. Bitfarms shares fell 1.5% in after-hours trading, with last close of $8.61. "As of today, we have increased our hashrate to over 2 Exahash per second (EH/s) and expanded our production capacity to 106 Megawatts (MW) in Canada and the U.S., with an additional 298 MW in development underway in Canada, Paraguay and Argentina... We continue our efforts to achieve our computational goals of 3 EH/s by March 31, 2022, and 8 EH/s by December 31, 2022,” said Emiliano Grodzki, Bitfarms Founder and CEO. The company recorded Q3 2021 revenues of $44.8M, up 22% from Q2 2021 and 559% Y/Y, but missed analyst expectations of $46.6M. Gross mining margin increased to 82%, up from 79% in
