Bitfarms Ltd T.BITF

Alternate Symbol(s): BITF

Technology Software - Application

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.

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Bitfarms Ltd

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Post by zoevans1on Jun 13, 2024 10:01am

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Post# 36086881

Provides 2025 Guidance of Over 35 EH/s 🚀

Bitfarms Enters into Agreement to Develop 120 MW in U.S.; Provides 2025 Guidance of Over 35 EH/s

• First U.S. large scale site supports 8 EH/s in 2025 with deployment of 600 PH/s in 2024

• Strategically located in PJM Interconnection market, providing access to low-cost, flexible power

• Increases 2025 power capacity to 648 MW, up 170% from current 240 MW

• Company establishes 2025 guidance of over 35 EH/s

“Leveraging our operational excellence and farm design expertise, we’re poised to optimize this site, facilitating efficient growth,” said Nicolas Bonta, Chairman and Interim CEO.

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