Bitfarms Ltd., a global vertically integrated Bitcoin mining company, reached a new hashrate high of 5.3 EH/s, up 6% from May 31, 2023.
- Ben Gagnon, Chief Mining Officer of Bitfarms, said: “The first tranche of 2,982 MicroBT miners were installed and began hashing last week at our Rio Cuarto farm in Argentina. These miners contributed an additional 290 PH/s driving our hashrate to 5.3 EH/s.”
- “With these new installations, operating capacity increased to 29 MW at Rio Cuarto and to 207 MW company-wide. An additional 3,300 miners are en route to Rio Cuarto and will improve production and energy efficiency at this facilty when installed in July,” Ben added.
- Jeff Lucas, Chief Financial Officer of Bitfarms, added, “With miner deliveries and installations progressing smoothly, we continue to execute on our strategy of accretive growth. These competitively priced miners, combined with high energy efficiency and the lowest cost electricity in our portfolio, are expected to generate a rapid return on investment, reduce our average operating costs per TH, and improve our cash flow.”
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