Bitfarms Opens New Mining Center – Megafarm

Bitfarms, a worldwide Bitcoin mining corporation, has begun operations in its Argentina mining megafarm.

The farm, which began operations on September 16, is now producing 10 megawatts (MW) of mining power during the first phase and will be fully operational next year. Bitfarms anticipates contributing 50 MW to the company’s mining targets in 2023.

However, when completed, this will be the company’s most modern and biggest mining facility. Bitfarms previously announced that the new facility will house Antminer S19 Pro Hydro miners, which include water cooling for increased efficiency.

This occasion symbolizes the start of the project’s completion, which has been criticized at times owing to Argentina’s energy crisis last year. Indeed, the development of this megafarm raised worries among Argentine authorities, who inquired about the project’s origin and the source of the energy that would be used.

Bitfarms signed a private arrangement with a provider capable of supplying pricing as low as $0.022 per kilowatt hour (kWh). Despite this advantage, Bitfarms has voiced concern about the precipitous drop in Bitcoin values in international markets.

In June, Damian Polla, Bitfarm’s Latam General Manager, claimed that this element was the most significant short-term difficulty confronting the mining business.

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Harold

CoinCu