In June, Bitfarms increased production by 21% while fending off a takeover attempt by one of its biggest competitors, RiotPlatforms. In a statement on July 1, Bitfarms revealed that the company mined 189 bitcoins that month and sold 134 of them for $8.80 million. The company currently holds 905 bitcoins, worth $57 million. However, due to the recent halving event, which slashed block subsidies by 50%, its Bitcoin production decreased by 51% compared to June 2023. Bitfarms increased its installed hash rate to 11.4EH/s in June, with an online rate of 10.4EH/s, an increase of 96% year-on-year and 39% month-on-month. And is still on track to achieve the target of 21EH/s by the end of 2024.