Bitfarms' mining revenue in May was 156 Bitcoins, a decrease of 42% from the previous month

Bitcoin mining company Bitfarms released its latest monthly production data, earning 156 bitcoins in May, a decrease of 42% from the previous month and a drop of 66% compared to the same period last year. In terms of profits, the company sold 136 bitcoins with total revenue of $8.9 million (lower than $16.1 million in April), as part of its regular fund management process.

The total number of Bitcoins held by Bitfarm in its treasury increased to 850. Based on the Bitcoin price of $67,300 on May 31st, it is worth $57.2 million. The company stated that the average number of Bitcoins obtained per EH/s decreased by 45% from last month because May was the first full month after "halving economics". Based on Bitcoin's price at $67,300 on May 31st, an average daily earnings of five Bitcoins is approximately equivalent to $340k per day.