Future

2024

Bitcoin

Hydro

<p><a href="https://ultramining.com/news/en/bitfarms-set-to-boost-mining-capacity-with-quebec-expansion/">Bitfarms</a> Ltd., a titan in the global Bitcoin mining landscape, has made a monumental stride towards achieving an unprecedented 21 EH/s mining capacity by 2024. This ambitious expansion involves the acquisition of an additional 28,000 <a href="https://ultramining.com/en/manufacturers/bitmain/">Bitmain</a> T21 miners, alongside a further purchase of 19,280 <a href="https://ultramining.com/en/hardware/antminer-t21-190-ths/">Bitmain T21</a> miners at <a href="https://ultramining.com/news/en/major-bitcoin-mining-pool-foundry-usa-to-introduce-fee-structure/">US</a>$14/TH, 3,888 Bitmain S21 miners, and 740 Bitmain S21 Hydro miners at US$17.50/TH. These acquisitions signal Bitfarms' assertive stance in securing a dominant position in the industry, leveraging the latest in mining technology to enhance operational efficiency and energy utilization, according to <a href="https://investor.bitfarms.com/news-events/press-releases/detail/232/bitfarms-purchases-additional-miners-to-reach-21-ehs-in">Bitfarms</a>.</p> 
<p>Geoff Morphy, President and CEO of Bitfarms, articulated the company's strategic move, emphasizing the timeliness of these acquisitions amidst the surge in Bitcoin prices to new all-time highs. The decision to secure additional miners is predicated on the proven performance of the T21 miners currently in operation and anticipates a bullish market scenario. This proactive approach aims to position Bitfarms advantageously ahead of anticipated <a href="https://ultramining.com/hardware/">hardware</a> price increases, ensuring the company's ability to meet its ambitious 2024 <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a> target without the need for redeploying older mining units.</p>

Bitfarms Secures Future with 51,908 New Miners

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