Bitfarms Expands Operations in Paraguay, Unveils Hydro-Cooled Bitcoin Mining Facility
Bitfarms Ltd. has initiated the construction of a new 50-megawatt (MW) Bitcoin mining facility in Paraguay, with plans for full operation by Q1 2024, as announced on August 7, 2023.
The site, situated near Bitfarms’ existing mining operations in Villarrica, reflects the company’s strategic focus on hydro-cooled mining and efficient operations. Recent securement of 150 MW of hydropower contracts in Paraguay has propelled this expansion, with low building costs and rapid construction timelines being key factors.
The facility will feature a 50 MW substation, a 30 MW air-cooled warehouse, and 20 MW of hydro-cooled mining containers supplied by Microbt. Bitfarms will utilize the new M53S+ miners, designed for immersion cooling, as part of its pursuit of cost-effective power sources to enhance profitability, especially in anticipation of the 2024 Bitcoin halving.
Clever Robot News Desk 9th August 2023
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