BITF continues to mine BTC at the lowest possible cost In 2021, Bitfarms contracted with a private power company in Argentina to supply up to 210 MW to Bitfarms for warehouses being developed beside and on the same property as the generating facilities.
For the first four-years, electrical costs are calculated based on a formula in which the cost of power is based on a combination of market-based pricing and at a base rate of US 2.2 cents per kilowatt.
Following an initial start-up period and based on current foreign currency exchange rates and natural gas prices in Argentina, the cost of the power in Rio Cuarto is expected to be the lowest in Bitfarms portfolio, creating a significant advantage.
