Bitfarms Ltd. reported production results for the month of December and year ended December 31, 2023. For the month, the company reported December production of 446 BTC represented an increase of 13.8% from November as high uptime and a surge in transaction fees of 465% offset a network difficulty increase of 6.0% during the month.

For the year ended December 31st, the company reported production of 4,928 BTC as compared to 5,167 BTC a year ago, network difficulty increased 103.6% while the BTC price was up approximately 156.8%, resulting in a 61.4% improvement in YOY production economics as measured by USD/TH/day.