Bitcoin mining company Bitfarms announced its third-quarter results. According to the report, 1,515 bitcoins were produced in the third quarter and the production cost per bitcoin decreased by 5% from the previous quarter to $9,400, and the total cash cost dropped to $14,300. As of September 30, 2022, Bitfarms’ computing power will be 4.2EH/s, an increase of 17% month-on-month and 180% year-on-year. In terms of financial performance, Bitfarms’ total revenue in the third quarter was US$33 million, a decrease of 21.4% from the previous quarter; mining profit and gross profit margin were US$17 million and 52%, respectively, a decrease of 37% and 21.2% from the previous quarter. Additionally, Bitfarms sold 2,595 bitcoins for a $56 million profit in the third quarter, and sold another 486 bitcoins for a $10 million profit in October. As of October 31, 2022, Bitfarms held 2,064 bitcoins.