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Bitfarms to double installed power capacity in Québec in 2021

Bitfarms to double installed power capacity in Québec in 2021


Seeking Alpha
2021-04-26 11:53:23
Bitfarms to double installed power capacity in Québec in 2021

Bitfarms (BFARF) has recently made significant commitments to developing new infrastructure in Québec which includes Cowansville site renovation which will increase in the installed power at the site from 4 MW to 17 MW.The expanded facility will be ready in July 2021.With the completion of the Cowansville expansion, Bitfarms will have successfully developed 82 MW out of its 160 MW of contractual capacity with Hydro Quebec.Also, Bitfarms recently ordered materials, transformers, and electrical equipment to develop a further 66 MW of power capacity in Québec during the remainder of 2021 for a new mining site in Sherbrooke.Cumulatively, Bitfarms is expecting to have 148 MW of installed hydro power mining infrastructure in Quebec by 2021 end.The new infrastructure will be able to support ~21K new generation miners capable of adding ~2.1 EH/s of new production.With scheduled deliveries and miners being rehabilitated, Bitfarms is on track to achieving over 1.7 EH/s during 2021 summer.Last week, Bitfarms received and installed on the same day,

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