May 29, 2024

Bitfarms increased its Bitcoin hash rate to 7 EH/s.

How does Bitcoin mining work?
How does Bitcoin mining work?

Bitfarms mining company has increased the hash rate in the network of the first cryptocurrency to 7 EH/s after deploying 5000 modern setups in two facilities in Canada.

According to the press release, the company installed:

  • 3168 Bitmine Antminer T21 in Garlock (Quebec);
  • 1710 units of T21 and 100 units of Whatsminer M53S+ hydro from MicroBT in Farnham (Quebec).

In the II quarter of 2024, Bitfarms plans to connect more than 5000 T21 setups at three facilities, including Paso Pe in Paraguay.

“As we deployed an additional 30,000 miners this quarter, we expect rapid growth in both our hash rate and energy efficiency, while at the same time achieving our goals of 12 EH/s and 21 EH/s in 2024,” said mining director Ben Gagnon.

Currently, Bitfarms mines Bitcoin at 11 facilities in Canada, the USA, Paraguay, and Argentina. The company predominantly aims to use renewable energy sources.

In March, Bitfarms utilized an option to purchase 19,280 T21 setups at a price of $14 per TH/s. The order also included 3888 Antminer S21 and 740 units of S21 hydro at $17.5 per TH/s.

It is worth reminding that in November 2023, the company acquired a batch of 35,888 T21 setups for $95.5 million from Bitmain.

Follow ForkLog on social media

Found a mistake in the text? Highlight it and press CTRL+ENTER

ForkLog newsletters: stay up-to-date with the Bitcoin industry!

Leave a Reply

Your email address will not be published. Required fields are marked *