Bitcoin Miner Bitfarms Enhances Paraguay Facility With New 100 MW Hydropower Deal
On Tuesday, bitcoin mining agent Bitfarms, stored in mind on the Nasdaq and Toronto Bargain Mart (TSX), decided it has pegged an second 100 megawatts (MW) of power from Paraguay’s case-owned utility company, ANDE. The 100 MW is predicted to double the capacity of the hydro-powered Yguazu landmark and must be totally operational by 2025.
Bitfarms to Double Yguazu Bitcoin Mining Internet website Potential
Bitfarms (TSX: BITF) has obtained an auxiliary 100 MW of capacity for its hydro-powered Yguazu residential in Paraguay. According to the agent, this hydropower will evoke low-price electrical power at $0.039 per kilowatt-hour (kWh) without being topic to inflationary endows. Prefabricating and construction and construction at the Yguazu landmark obtained started in March, entailing the high-voltage interconnection to the ANDE substation.
“The second 100 MW lends a low-price upswing training course for the first half of 2025 without affecting our 2024 21 EH/s target which sticks severely on scheme,” Bitfarms’ chief mining officer, Ben Gagnon, remarked on Tuesday. “Flourishing Yguazu to 200 MW is intended to augment our 2025 megawatts under overseeing by 23% from 428 MW to 528 MW.”
Gagnon added:
Notably this spreading confiscates incentive of our existent construction scheme, amortizing advance prices over a broader structures underpinning and driving down complete quantity prices per megawatt.
Damian Polla, Bitfarms’ General Company of LATAM, explained that the megawatts were attained correct wearing ANDE without any correct buy prices. Polla added that Paraguay stands for Bitfarms’ the majority of monumental upswing privilege, wearing 270 MW of structures spreading from the brand-new Paso Pe and Yguazu granges. On the other hand, Bitfarms’ supply has confronted pressure, declining 16.7% over days gone by 5 days. Singularly, over days gone by 6 months, BITF has still risen 37% to day.
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