Bitfarms Purchases Land in Yguazu, Paraguay in Support of Transformative Fleet Upgrade & 2024 Target of 21 EH/s, Financial Terms Undisclosed
Portfolio Pulse from Benzinga Newsdesk
Bitfarms Ltd., a global Bitcoin mining company, has completed the acquisition of land in Yguazu, Paraguay for a new 100 MW production facility. This move is part of Bitfarms' strategy to upgrade its fleet and achieve a target of 21 EH/s by 2024. The financial terms of the transaction were not disclosed.
January 24, 2024 | 12:08 pm
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Bitfarms Ltd. has purchased land for a new mining facility in Paraguay, indicating expansion and growth as it aims for a 21 EH/s target by 2024.
The purchase of land for a new production facility is a clear sign of expansion and growth for Bitfarms Ltd. This strategic move is likely to be viewed positively by investors as it aligns with the company's goal to significantly increase its mining capacity. While the financial terms are undisclosed, the commitment to upgrade the fleet and the ambitious target for 2024 suggest a positive outlook for the company's future operations and profitability.
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