The mining firm Bitfarms has increased its hashrate in the Bitcoin network to 7 EH/s following the deployment of 5,000 modern installations at two sites in Canada.
#Bitfarms Reaches 7 EH/s with Completion of Fleet Upgrade at Garlock and Farnham Facilities
— Corporate energy efficiency improves 9% to 31 w/TH
Upgrade Highlights:
At Garlock installed 3,168 T21s.
At Farnham installed 1,710 T21s and 100 M53S+ hydro miners.
In Q2 2024, more… pic.twitter.com/l8JfsIRCDX— Bitfarms (@Bitfarms_io) April 12, 2024
According to a press release, the firm installed:
- 3,168 Antminer T21 from Bitmine in Garlock (Quebec);
- 1,710 units of T21 and 100 units of Whatsminer M53S+ hydro from MicroBT in Farnham (Quebec).
In total, in the second quarter of 2024, Bitfarms plans to connect more than 5,000 T21s at three sites, including Paso Pe in Paraguay.
“As we deploy an additional 30,000 miners this quarter, we anticipate a rapid increase in both our hashrate and energy efficiency, while achieving our targets of 12 EH/s and 21 EH/s in 2024,” said Ben Gagnon, Chief Mining Officer.
Currently, Bitfarms mines Bitcoin at 11 facilities in Canada, the USA, Paraguay, and Argentina. The company predominantly aims to use renewable energy.
In March, Bitfarms exercised an option to purchase 19,280 T21s at $14 per TH/s. The order also included 3,888 Antminer S21 and 740 units of S21 hydro at $17.5 per TH/s.
Back in November 2023, the firm acquired a batch of 35,888 T21s for $95.5 million from Bitmain.