© Reuters.
TORONTO, Ontario and BROSSARD, Quebec – Bitfarms Ltd. (NASDAQ/TSX: BITF), a prominent player in the mining industry, has announced a significant expansion of its mining operations. The company has exercised an option to acquire 28,000 Bitmain T21 miners and has further purchased an additional 19,280 Bitmain T21 miners, along with 3,888 Bitmain S21 miners and 740 Bitmain S21 Hydro miners.
The acquisition, priced at US$14/TH for the T21 miners and US$17.50/TH for the S21 variants, comes as the company prepares for what it anticipates to be a bullish market for Bitcoin. Geoff Morphy, President and CEO of Bitfarms, stated that securing these miners is a strategic move aimed at rapidly improving the company’s operating metrics, including hashrate, energy efficiency, and operating costs per terahash.
The newly acquired miners are expected to be delivered within the year and are projected to enable Bitfarms to…
