New Miners to Propel Bitfarms’ Hashrate Beyond 6 EH/s Target

Bitfarms Ltd has purchased high-performance Bitcoin miners. The company spent $7.7 million to procure 550 PH/s of these top-tier miners. 

The buy includes 4,660 miners, purchased at a rate of $13.94/TH. These devices boast a remarkable blended energy efficiency of 28 W/TH. The plan is to deploy these miners to enhance Bitfarms‘ operations in Argentina and Quebec.

Ben Gagnon, Bitfarms’ Chief Mining Officer, outlined the strategic benefits. He mentioned that the new miners will bolster their average energy and operational costs. These miners, representing 550 PH/s, will also drive their corporate hashrate past the September 2023 target of 6 EH/s.

Bitfarms procured a mix of Bitmain S19 Pro+, Bitmain S19j Pro, and MicroBT M50S+ miners. Each miner offers an average hashrate of 118 TH/s. Bitfarms plans to send 1,500 miners to Argentina and 3,160 to Quebec. 

Upon full deployment, these miners should boost energy efficiency by 11% in Argentina and 3% company-wide. Bitfarms expects all new miners to be operational by Q3 2023.  

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