A Canadian Company Announces the Construction of a Mega Farm to Mine Bitcoin in Argentina

Una empresa canadiense anuncia la construcción de una megagranja para minar bitcoines en Argentina


13 October 2021 19:44 GMT

Reporting the news, global mining company Bitfarms said its project could hold 55,000 rigs.

Bitfarms, a multinational company dedicated to cryptocurrency mining, advertisement Which plans to set up a major plant in Argentina with 55,000 computers to make digital currency Less cost, while the company expands its business in different countries.

For now, it was not announced where the establishment will be located. However, it has already been announced that the company Proactos y Obras Americanas (PROA) will be in charge of the construction. In addition, the enterprise will 210 MW For mining, provided by a private energy firm.

For Emiliano Grodzki, executive director of Bitfarms, this is a very profitable business, because of how cheap electricity is in the South American country: “It is planned that an Argentine facility can produce bitcoin using only energy at an attractive rate.” can. 2.2 cents per kilowatt hourhandjob
substantially reducing our already low cost of mining.”

“better profit margin”

so it will be 6th floor of the company in the world, noting that a construction in Paraguay was also recently announced. “It’s part of Our strategy to grow rapidly And by mining bitcoin more efficiently, with better profit margins,” Grodzki said.

In its announcement, the Canada-based cryptocurrency company posted that its corporate goal is to have a mine by the end of 2022. eight exhashi, a way to measure the capacity and speed of creating digital currency.

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“The management and technology teams are working closely on this strategic expansion, and key appointments have already been made in Argentina,” the businessman concluded.

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