Bitfarms Says It Reached 7 EH/s With Completion Of Fleet Upgrade At Garlock And Farnham Facilities
Portfolio Pulse from Benzinga Newsdesk
Bitfarms announced it has achieved a mining capacity of 7 EH/s following the upgrade of its fleet at the Garlock and Farnham facilities, with the installation of 3,168 T21s at Garlock and 1,710 T21s plus 100 M53S+ hydro miners at Farnham. Additionally, over 30,000 T21s are expected to be delivered in Q2 2024 to various locations, including a new development in Paso Pe, Paraguay.
April 12, 2024 | 11:06 am
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Bitfarms' achievement of a 7 EH/s mining capacity and the planned expansion with over 30,000 T21s in Q2 2024 indicate significant growth in mining capabilities and potential revenue increase.
The completion of the fleet upgrade and the significant increase in mining capacity directly impact Bitfarms' operational efficiency and potential for revenue growth. The announcement of further expansion in Q2 2024 with the delivery of over 30,000 T21s, including to a new site in Paraguay, highlights the company's aggressive growth strategy. This is likely to be viewed positively by investors, reflecting potential for increased profitability and market share in the cryptocurrency mining industry.
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