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Bitfarms begins with the construction of Mega-Bitcoin Mining farm in Argentina-Mining Bitcoin news
Bitfarms, a Bitcoin mining company, announced last week that the construction of a mega-bitcoin mining farm in Argentina was underway. The system, which is designed for 55,000 miners, will be completed next year. This is another signal that mining companies are looking for new areas with favorable conditions and cheap energy for migration, including places such as Texas and El Salvador. Bitfarms expands according to Argentina Bitfarms, A Nasdaq listed Bitcoin mining company, announced last week with the construction of a mega-bitcoin mining farm in Argentina. The company says that this facility will be able to supply thousands of miners with electricity, which through a contract ...
Bitfarms begins with the construction of Mega-Bitcoin Mining farm in Argentina-Mining Bitcoin news
Bitfarms, a Bitcoin mining company, announced last week that the construction of a mega-bitcoin mining farm in Argentina was underway. The system, which is designed for 55,000 miners, will be completed next year. This is another signal that mining companies are looking for new areas with favorable conditions and cheap energy for migration, including places such as Texas and El Salvador.
Bitfarms expands according to Argentina
Bitfarms, A nasdaq -Börsnotedes Bitcoin mining company, Week with the construction of a mega-bitcoin mining farm in Argentina. The company says that this system will be able to supply thousands of miners with electricity, which is secured by a contract with a private electricity company. The farm will provide more than 210 megawatts of infrastructure capacity for the company, which in September had a mining performance of 1.4 Exahash per second.
about the construction said Emiliano Grodzki, CEO of Bitfarms:
Our new high -production system in Argentina, which is expected to record over 55,000 miners after completion, will significantly expand our capacities and our global presence.
Grodzki noted that this facility would help the company to achieve its goal of eight exahashs per second to the end of next year.
Argentina's favorable conditions
Grodzki also pointed out the reasons why the company chose Argentina. The farm is built in warehouses within the energy company that provides the energy, which creates a great location for bitfarm. Bitfarms has signed an eight -year contract for 210 MW, which ensures the power supply at a very low price. Grodzki explained:
The Argentine plant is said to produce Bitcoin with electricity at an attractive price of only 2.2 US cent per kilowatt hour, which significantly reduces our already low costs for Bitcoin mining.
The system is already under construction with an Argentine company called proyectos y Obras Americanas SA ("ProA"), which will be built the electrical structure required for the power supply of the system. Bitfarms is only one of the mining companies looking for new locations that offer favorable conditions for expansion, and Argentina is on this list, mainly because of its abundant and cheap energy in certain regions. Bitfarms took advantage of this and opted for a region in which there is a lot of energy and the demand is low. Other companies could follow in the near future.
What do you think about the construction of a Bitfarms-mega-bitcoin farm in Argentina? Tell us in the comment area below.
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