Bitcoin Miner Bitfarms Hits New Hashrate High Amid Argentine Expansion
Bitfarms, one of the world’s largest Bitcoin mining enterprises, plans to open a new mining data centre in Argentina. It will be the company’s largest operation to date. The publicly traded company, based in Québec, stated that the project would consume up to 210 megawatts of electricity. Bitfarms also stated that it signed a non-binding memorandum in October to secure electricity at around $0.02 per kWh in order to build the 60 MW Bitcoin farm.
This has continued to rise as the company takes advantage of the region’s low energy costs.
The most recent boost occurred earlier this week, when 2,100 new miners were activated, while some old miners who had been “underclocked” were brought up to full capability.
(With inputs from Shikha Singh)
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