Bitfarms Acquires 87,796 Miners as Halving Race Deepens

Bitcoin miner, Bitfarms has acquired 87,796 miners to spice up effectivity and manufacturing forward of the halving occasion.

In an April 2 social media publish on X (previously Twitter), Bitfarms introduced the acquisition of recent miners, future farm growth plans, and a roadmap in direction of improved capability this yr. In line with the discharge, the acquisition is for larger operational capability which can see 21 EH/s by the top of the yr.

Having confirmed the super efficiency of our T21 miners presently working, and with #Bitcoin costs reaching all-time highs, we acted rapidly to safe these miners at enticing costs upfront of anticipated {hardware} worth will increase. Collectively, with our 35,888 Bitmain… pic.twitter.com/tmZw9nR6Md

— Bitfarms (@Bitfarms_io) April 2, 2024

Bitcoin Halving and Value Surge Drives Miners

The workforce took the daring step following the success of current T21 miners and farm growth plans aligning it for the upcoming Bitcoin halving.

“Collectively, with our 35,888 Bitmain T21 purchases and farm expansions introduced in November, these new 87,796 miners are adequate to succeed in 21 EH/s by year-end, with larger working effectivity.”

The worth of Bitcoin additionally led to the choice to amass giant miners. With the asset worth hovering to all-time highs, Bitfarms bought the miners earlier than the rise in {hardware}. Following the thrill round Synthetic Intelligence (AI) and miners’ race in direction of halving, there’s a rush for {hardware} elements utilized in each fields resulting in a worth surge. Final month, it was reported that crypto miners are scrambling for computing {hardware} to the extent of buying used machines from america.

Bitfarms Look In the direction of Growth

Like most Bitcoin miners, Bitfarms has harassed growth within the wake of surging asset costs and rising adoption from a number of jurisdictions. The transfer stays a key a part of its threefold technique for mining enchancment within the sector.

“These orders solidify our growth plan for 2024 and supply the pathway to working one of many latest and doubtlessly best mining fleets within the business. Securing these miners is a key a part of our technique to drive speedy and significant enhancements…”

Bettering hashrate, vitality effectivity, and working value per terahash to increase mining margins was included within the launch because the Bitfarms plans for the longer term. Lastly, the corporate famous that it’s well-positioned to capitalize on the current market bull run.

Bitcoin miners proceed to dominate market narratives with flows into exchanges from mining reserves as they place in direction of decreased mining rewards.

Learn Additionally: AI News: US and UK Inks Formal Partnership On Artificial Intelligence Safety