- Bitfarms (BITF) has expanded its Québec mining operations with 13 MW of hydropower
- The Cowansville facility’s capacity now stands at 17 MW
- The news comes after the installation of 450 Bitmain S19j Pro miners at the facility, increasing its hashrate by 100 Petahash per second
- Bitfarms is a Bitcoin mining company
- Bitfarms (BITF) is down by 2.2 per cent and is currently trading at $6.22 per share
Bitfarms (BITF) has expanded its Québec mining operations with 13 MW of hydropower.
Hydro Québec commenced delivering power to the Cowansville facility effective October 1, 2021. Its capacity now stands at 17 MW.
The news comes after the installation of 450 Bitmain S19j Pro miners at the facility, increasing its hashrate by approximately 100 Petahash per second.
The company’s total hashrate is now over 1.6 Exahash per second.
Emiliano Grodzki, CEO of Bitfarms, stated,
“Bitfarms is committed to developing the cost-effective infrastructure to support the 55,000 new generation Bitcoin mining machines scheduled to be delivered between now and the end of 2022.
As Bitfarms upgrades its miner fleet and existing facilities while expanding into new geographies, we will continue to increase our ability to produce Bitcoin with greater efficiency across decentralized operations.
Cowansville broadens our footprint in Canada and marks our first new capacity build-out in Québec in 2021. This is one of many projects that excite us about our growth opportunities and supports our goal of achieving 3 EH/s by the end of the first quarter of 2022 and 8 EH/s by the end of 2022.”
Bitfarms is a Bitcoin mining company.
Bitfarms (BITF) is down by 2.2 per cent and is currently trading at $6.22 per share as of 10:01 am ET.