Bitfarms has Signed an Agreement to Draw Up to 210 MW of Electricity for its Mining Facility

April 20, 2021


Publicly traded bitcoin (BTC) mining organization Bitfarms has consented to an arrangement under which it can attract up to 210 MW of power for its arranged mining office in Argentina. The underlying term of the agreement with a private Argentinian force maker is eight years, the organization said in a declaration Monday, with a successful expense of $0.022 per kWh for the power for the initial four years. 


Bitfarms had recently marked a notice of comprehension in October to build up a 60 MW bitcoin mining activity in Argentina, taking note of a positive all year environment for the office, which the firm said will be a critical supporter of its objective of 8.0 exahash/second before the finish of 2022 and give geographic creation enhancement to lessen hazard. Our arranged development in Argentina is a continuation of our experience and our craving to convey worth to investors, said Bitfarms President Geoffrey Morphy. The essential development gives the scale and productivity that we were looking for. 


Bitfarms likewise declared Friday that it had bought an extra 1,996 new MicroBT excavators, which will be introduced through August and will give an extra 160 petahash each second once fully operational. Other mechanical scale diggers like Marathon, Riot, Blockcap, and more have bought a huge number of machines as of late. On Monday, DMG Blockchain Solutions, another publicly traded Canadian bitcoin mining organization, bought 3,600 application-explicit circuits (ASIC) machines. 


As per Bitfarms’ declaration, the 210 MW is adequate to help around 55,000 new-age diggers, which could create roughly $650 million of incomes or 11,774 BTC, in light of current trouble levels and a bitcoin cost of $55,000. Bitfarms as of now has five mechanical scale hydroelectric offices in Québec, Canada, with a joined limit of 69 MW. 




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