Toronto-based bitcoin mining company Bitfarms announced that as of the end of July, its operating hash rate had reached 11.1EH/s, an increase of 109% year-on-year and 7% month-on-month. The average operating hash rate for the month was 10.3EH/s, an increase of 36% from June. Due to the increase in hash rate, Bitfarms generated 253 BTC in July. This figure increased by 34% month-on-month, but decreased by 33% compared to the same period last year. At the same time, the company sold 142 BTC at $8.60 million, while the remaining 111 BTC increased its inventory to 1,016 BTC, worth about $67.20 million. The company earned an average of 8.2 BTC per day, which is about $542,000 per day based on the BTC price of $66,100 at the end of the month.