{"id":87583,"date":"2023-11-28T11:23:43","date_gmt":"2023-11-28T09:23:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87583"},"modified":"2025-09-13T12:45:48","modified_gmt":"2025-09-13T09:45:48","slug":"bitfarms-to-acquire-bitmain-bitcoin-miners-for-95-5-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitfarms-to-acquire-bitmain-bitcoin-miners-for-95-5-million\/","title":{"rendered":"Bitfarms to acquire Bitmain Bitcoin miners for $95.5 million"},"content":{"rendered":"<p>The mining company Bitfarms placed an order to supply 35,888 Bitcoin miners Antminer T21 from Bitmain at $2,660 per unit.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">? <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitfarms?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitfarms<\/a> Initiates Transformative Fleet Upgrade that Supports 17 EH\/s and 391 MW in 2024<\/p>\n<p>\u2014 Purchases 35,888 Bitmain T21 miners to be delivered and installed in H1 2024 \u2014<br \/>\u2014 Provides Q2 2024 guidance of 310 MW and 12 EH\/s at 25 w\/TH \u2014<br \/>\u2014 Secures option for an additional 28,000\u2026 <a href=\\\"https:\/\/t.co\/htkKowKdXw\\\">pic.twitter.com\/htkKowKdXw<\/a><\/p>\n<p>\u2014 Bitfarms (@Bitfarms_io) <a href=\\\"https:\/\/twitter.com\/Bitfarms_io\/status\/1729259532533067897?ref_src=twsrc%5Etfw\\\">November 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>According to the figures provided, the deal is worth about $95.5 million. Delivery of the equipment is expected between March and May 2024.<\/p>\n<p>Bitfarms also secured an option to purchase an additional 28,000 Antminer T21s.<\/p>\n<p>After deploying the purchased units, the company expects to increase its hashrate to 12 EH\/s with a contracted capacity of 310 MW in the first half of 2024. By year-end, the figures are expected to reach 17 EH\/s and 391 MW, respectively.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh7-eu.googleusercontent.com\/DzPfR5NU0dXZKm9dTF4mJcXrYRTMeXLE98aZBisLHdUFX2DEXw9EysOhsApVJkFS73FnJhXR7dEzXO8CBn3k6C8vg6l2dvXv7QBIiKARhjas6nLdO7znSV8bVGbL_JMPDBtkq4-Y8YtHhhtN4_etq5s\\\" alt=\\\"Bitfarms to acquire Bitcoin miners from Bitmain for $95.5 million\\\"\/><figcaption class=\\\"wp-element-caption\\\">Data: Bitfarms.<\/figcaption><\/figure>\n<p>According to Bitfarms&#8217; president and CEO Jeff Morfi, launching a comprehensive fleet-upgrade program was made possible by \u201cthe most attractive prices for equipment since 2020.\u201d The firm\u000019s miners\u2019 average energy efficiency is expected to rise to 23 W\/TH as a result, he added.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cOur patience has paid off. These next-generation T21s are selling at a contract price of $14 per TH at 190 TH\/s per unit,\u201d said Bitfarms\u2019 chief mining officer Ben Ganyo.<\/p>\n<\/blockquote>\n<p>Bitmain <a href=\"https:\/\/forklog.com\/en\/news\/bitmain-unveils-new-miner-with-190-th-s\">introduced<\/a> the Antminer T21 in October. The deployment trails slightly in hash rate and power consumption behind the <a href=\"https:\/\/forklog.com\/en\/news\/bitmain-to-release-antminer-s21-with-energy-efficiency-below-20-j-th\">August-announced<\/a> flagship S21.<\/p>\n<p>To partly finance the equipment purchase, Bitfarms has tapped C$60 million ($44.1 million at the time of writing) raised through an additional private placement of shares.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\"><a href=\\\"https:\/\/twitter.com\/hashtag\/Bitfarms?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitfarms<\/a> Announces C$60 Million Private Placement with U.S. Institutional Investors<\/p>\n<p>The net proceeds of the private placement will be used by the Company mainly to acquire additional miners, expand infrastructure, and improve its working capital position.<\/p>\n<p>? Press Release:\u2026 <a href=\\\"https:\/\/t.co\/gzjxe0IsxO\\\">pic.twitter.com\/gzjxe0IsxO<\/a><\/p>\n<p>\u2014 Bitfarms (@Bitfarms_io) <a href=\\\"https:\/\/twitter.com\/Bitfarms_io\/status\/1728050501005062182?ref_src=twsrc%5Etfw\\\">November 24, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Earlier in April, the company <a href=\"https:\/\/forklog.com\/en\/news\/bitfarms-to-expand-bitcoin-mining-capacity-in-argentina-to-100-mw\">announced<\/a> the expansion of its Argentina mining center capacity to 100 MW.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mining company Bitfarms placed an order to supply 35,888 Antminer T21 devices from Bitmain at $2,660 per unit.<\/p>\n","protected":false},"author":1,"featured_media":87584,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1184,426,1137],"class_list":["post-87583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitfarms","tag-bitmain","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=87583"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87583\/revisions"}],"predecessor-version":[{"id":87585,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/87583\/revisions\/87585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/87584"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=87583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=87583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=87583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}