Bitfarms Purchases Additional Miners To Reach 21 EH/s In 2024; Fully Exercises 28,000 Bitmain T21 Miner Purchase Option; Purchases Additional 19,280 Bitmain T21 Miners, 3,888 Bitmain S21 Miners, 740 Bitmain S21 Hydro Miners
Portfolio Pulse from Benzinga Newsdesk
Bitfarms Ltd. (BITF) has announced the purchase of additional miners to reach a mining capacity of 21 EH/s in 2024. The company fully exercised a purchase option for 28,000 Bitmain T21 miners and bought an additional 19,280 Bitmain T21 miners, 3,888 Bitmain S21 miners, and 740 Bitmain S21 Hydro miners. These acquisitions are part of Bitfarms' expansion plan, aiming to operate one of the newest and most powerful mining fleets in anticipation of a bull market. The company plans to liquidate older miners to offset the cost of new ones and aims to improve hashrate, energy efficiency, and operating costs per terahash.
March 11, 2024 | 2:11 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Bitfarms Ltd. (BITF) has significantly expanded its mining capacity with the purchase of additional Bitmain miners, aiming for 21 EH/s in 2024. This move is expected to enhance the company's mining efficiency and profitability in anticipation of a bull market.
The purchase of additional miners by Bitfarms Ltd. (BITF) is a strategic move to increase its mining capacity and efficiency, positioning the company to capitalize on the anticipated bull market. This expansion is likely to have a positive impact on the company's profitability and attractiveness to investors, potentially leading to an increase in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100