Bitfarms Bets Big on Bitcoin Mining Upgrade, Eyes 17 EH/s Capacity by 2024
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Bitfarms announces major upgrade of mining fleet with purchase order of 35,888 latest generation Bitmain T21 miners, with option to acquire additional 28,000 miners.
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Upgrade aims to boost Bitfarms' capacity to 17 EH/s by second half of 2024, with potential to reach 21 EH/s. Positions company for next bitcoin halving.
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Focus on operational efficiency and lower costs with new miners offering unprecedented hashrate per unit. Allows for sustainable, cost-effective growth.
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Strategic shift demonstrates confidence in long-term bitcoin opportunity as asset class gains institutional adoption.
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Aligns with industry-wide investments in mining capacity and renewable energy sources as miners decentralize operations.
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