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Generating Cash From Mining Operations

BITCOIN PRODUCTION COST Direct cost of production of $9,400 per BTC in Q3 2022 5% decrease from $9,900 in Q2 2022 2% improvement in op. efficiency 2% decrease in energy costs reflecting the strengthening of the U.S. dollar vs. Canadian dollar 1% decrease in average network difficulty All figures is US$ Direct Cost of Production per BTC $8.700 $8.000 $6.900 $9.900 $9.400 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Bitfarms 10

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