Bitfarms Doubles Yguazu Power Capacity To 200 MW with Additional 100 MW Of Hydropower In Paraguay
Portfolio Pulse from Benzinga Newsdesk
Bitfarms has announced the doubling of its Yguazu power capacity to 200 MW by adding an additional 100 MW of hydropower in Paraguay. This expansion is aimed at enhancing the company's cryptocurrency mining operations by leveraging renewable energy sources.

May 14, 2024 | 11:01 am
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Bitfarms' expansion to 200 MW of power capacity with additional hydropower in Paraguay is expected to significantly enhance its cryptocurrency mining efficiency and sustainability. This move aligns with the growing trend of utilizing renewable energy in the blockchain industry, potentially improving Bitfarms' operational costs and environmental footprint.
The doubling of Bitfarms' power capacity directly impacts its ability to mine cryptocurrency more efficiently and sustainably. By increasing its reliance on renewable energy, Bitfarms not only reduces operational costs but also aligns with investor and consumer demand for environmentally responsible practices. This strategic move is likely to be viewed positively by investors, potentially leading to a short-term increase in BITF's stock price.
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