Cryptocurrency

Canadian firm <a href="https://ultramining.com/news/en/bitfarms-set-to-boost-mining-capacity-with-quebec-expansion/" rel="noopener noreferrer nofollow">Bitfarms</a> is gearing up for a significant expansion in <a href="https://ultramining.com/news/en/bitfarms-expands-bitcoin-mining-with-renewable-energy-in-paraguay/" rel="noopener noreferrer nofollow">Paraguay</a>. They've acquired land in Yguazu, near the famed Itaipu Dam. This move is crucial for their plan to expand their mining capacity by 100 megawatts (MW). Located in a region known for renewable energy, this step aligns with global trends towards sustainable practices in crypto mining. Bitfarms aims to complete this buildout by the second half of 2024, according to <a href="https://theminermag.com/news/2024-01-24/bitfarms-100-mw-paraguay-expansion-bitcoin-hashrate/" rel="noopener noreferrer nofollow">TheMinerMag</a>.
This expansion is tied to Bitfarms' ambitious goal to reach a corporate <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> of 21 EH/s by the end of 2024. They've already placed a preorder for 35,888 units of <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a>’s <a href="https://ultramining.com/en/hardware/antminer-t21-190-ths/" rel="noopener noreferrer nofollow">Antminer T21</a>, with an option for an additional 28,000 units. The Yguazu project is pivotal in ensuring enough power capacity to fully leverage these high-efficiency miners. Geoff Morphy, President and CEO of Bitfarms, emphasizes that this project complements their miner redeployment strategy.
The Antminer T21 is notable for its overclocking feature. In high voltage mode, its hashrate can jump from 190 TH/s to 233 TH/s. Should Bitfarms exercise their option, the total hashrate on order could reach an impressive 14.88 EH/s. However, this level of operation requires substantial power, estimated at an additional 327 MW to operate all preordered and optional T21s in high-voltage mode.&nbsp;
In November, while announcing the T21 purchase, Bitfarms shared plans to add 10.7 EH/s within 2024. This addition requires 151 MW, aiming for an efficiency of 14.11 J/TH. It remains to be seen how Bitfarms will achieve this efficiency level, especially considering the energy demands of their high-efficiency <a href="https://ultramining.com/news/en/immersion-cooling-transforms-chinas-crypto-mining-landscape/" rel="noopener noreferrer nofollow">mining equipment</a>.

Bitfarms Expands Power Capacity in Paraguay for Cryptocurrency Mining

Ultramining_Eng

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