Bitfarms has begun construction of two new Canadian mines in Sherbrooke, Quebec, which will be completed in phases in the first two quarters of 2022 and have a total capacity of 78 MW (MW). “Both companies will benefit from our current low-cost deals that provide green water electricity at an average cost of $ 0.04 per kilowatt hour,” said the company’s CEO. The company plans to run 21,000 platforms and develop 2.1 EH / s hashrate capacity.
“We are committed to increasing our capacity and hashing at low cost, and we have worked closely with the City of Sherbrook to accelerate our expansion,” said Emiliano Krotsky, CEO of Pitforms. “Both companies will benefit from our current low cost deals that provide green water electricity at an average cost of $ 0.04 per kilowatt hour.”
The Toronto-based company currently has five plants fully operational and two under construction. With this new project, BitForms is now working to activate four Bitcoin mining farms over the next few years. “Like our other Quebec farms, they will be passively cooled by the Canadian climate, reducing overall energy consumption and operating costs,” Krotsky added.
Bitfarms has become a global bitcoin mining company and seeks to increase its operations. The company expects to have 3 EH / s hashrate capacity by the end of the first quarter of 2022 and 8 EH / s by the end of that year. In early October, Bitfarms signed engineering, procurement and construction agreements to build a new mining farm in Argentina, which will set up 55,000 new mining sites and is expected to add up to 210 MW of electricity by 2022.