On July 28, the bitcoin mining company Bitfarms announced the
completion of the second phase of its facility expansion, by adding
roughly 18 megawatts (MW) of capacity to the operation. The mining
facility dubbed “The Bunker,” now has approximately 3.8 exahash per
second (EH/s), after the 18 MW increase boosted the computational power
by 200 petahash per second (PH/s).
Bitfarms Adds 18 MW to ‘The Bunker,’ Firm Says Daily Production Reaches 16.8 Bitcoin
Bitfarms Ltd. (Nasdaq: BITF)
has announced the company has improved The Bunker by adding 18 MW of
capacity to the facility. The company completed Phase 2 of The Bunker’s
construction and there’s a total of 9,450 bitcoin miners installed. The
Bunker started operations in March 2022 and Phase 3 will see the data
center built out. Phase 3 aims to add an additional 3,250 miners to the
facility which will add 325 PH/s of hashrate.
For now, Phase 2 was an 18 MW increase which added 200 PH/s to the
operation, and the company claims to manage a total of 3.8 EH/s today or
roughly 2% of the current global hashrate. “Completing Phase 2 of The
Bunker expansion is a strategic milestone that contributed to growing
our hashrate to 3.8 exahash per second (EH/s), up 5.5% from the
beginning of July,” Geoff Morphy, the president and COO of Bitfarms said
in a statement.
Morphy added:
Together with an additional 3 MW of low-cost hydropower
that went online this month at our mining facility in Washington state,
our total operating capacity is now 158 MW. Significantly, with our
higher hashrate came an increase in our current production to 16.8 BTC/day, a 15% increase from 14.6 BTC/day at the end of June.
Bitcoin Mining Industry Weathers the Storm, Bitfarms Exec Expects a
‘Gradual Increase in Hashrate’ to Reach Company’s August and Year-End
Goals
Bitfarms completing Phase 2 comes at a time when digital asset prices
are much lower than they were a few months ago. Damian Polla, Bitfarm’s
Latam general manager explained
during the first week of June, that falling bitcoin prices constitute a
challenge. “The biggest challenge facing the sector in the short term,
both in Argentina and globally, is the fall in the price of bitcoin,
which reduces revenues and increases operating costs,” Polla said at the
time.
There’s been a lot happening within the bitcoin mining sector and the network’s difficulty adjustment just recently made it 5% easier to find BTC block rewards. The bitcoin mining operation Marathon recently secured 254 MW of power to enhance operations and the mining company Cleanspark says crypto winter has shown “unprecedented opportunities.”
In addition to The Bunker, the company’s Washington state farms just
got an additional 3 MW of capacity and the low-cost hydropower and
stable electricity rates give the facility an advantage over the
company’s other mining sites.
“This past week, we have been selectively redeploying some mining
assets while continuing to bring new miners online,” Morphy added.
“Coupled with slight delays in receiving new mining shipments, the net
effect is we expect to experience a more gradual increase in our
hashrate and reach our 4 EH/s goal in early August. In addition, we
remain confident in executing our current international growth plan and
achieving 6 EH/s by year-end.”
source link : https://news.bitcoin.com/bitfarms-adds-18-mw-capacity-the-bunker-16-8-btc-per-day/
