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Bitfarms Ltd T.BITF

Alternate Symbol(s):  BITF

Bitfarms Ltd. is a Canada-based global vertically integrated bitcoin mining company. The Company develops, owns, and operates vertically integrated mining farms with in-house management and Company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers operational performance and uptime. The Company operates through the cryptocurrency mining segment. The Company operates server farms comprised of computers (Miners) designed for the purpose of validating transactions on the Bitcoin (BTC) Blockchain (Mining). The Company also operates Miners about 24 hours a day producing computational power (measured by hashrate) which it sells to Mining Pools under a formula-driven rate commonly known as Full Pay Per Share (FPPS). The Company has 11 farms, which are located in four countries: Canada, the United States, Paraguay, and Argentina.


TSX:BITF - Post by User

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Post by zoevans1on Aug 07, 2023 11:19am
119 Views
Post# 35576162

The good news continues! The expansion doesnt stop

The good news continues! The expansion doesnt stop

Bitfarms will be building a new 50 MW farm at Paso Pe, Paraguay, which is located in close proximity to its Villarrica, Paraguay facility, and it expects its new farm to be fully commissioned at 50 MW in Q1 2024.

Geoff Morphy, President & CEO: “Achieving high operating efficiencies while minimizing capex is an overarching goal in our global growth strategy heading into next year’s halving."

Ben Gagnon, Chief Mining Officer: "This marks our first deployment of hydro-cooled mining technology that has the potential to be less expensive than immersion technology."

 

MicroBT Equipment and Miner Purchases

• 8 MicroBT 2.4 MW Hydro Containers

• 1,920 MicroBT M53S+ Hydro Miners

• 675 PHs at 28.5 w/TH

• Miners and infrastructure purchased with credits

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