Bitfarms Expands U.S. Operations, Boosts 2025 Targets
Company Announcements

Bitfarms Expands U.S. Operations, Boosts 2025 Targets

Bitfarms (TSE:BITF) has released an update.

Bitfarms Ltd., a global Bitcoin mining firm, has announced an agreement to develop a new site in Sharon, Pennsylvania with a capacity of 120 MW, aiming to support 8 EH/s by 2025. This strategic move allows the company to access low-cost power and participate in flexibility programs within the U.S.’s largest wholesale electricity market. The expansion is set to increase Bitfarms’ power capacity by 170% to 648 MW, contributing to their guidance of exceeding 35 EH/s in 2025.

For further insights into TSE:BITF stock, check out TipRanks’ Stock Analysis page.

Related Articles
Annika MasraniBitcoin Mining’s Next Big Thing: AI Overdrive
Vince CondarcuriBitfarms (NASDAQ:BITF) Plunges despite Buy Rating from H.C. Wainwright
TipRanks Canadian Auto-Generated NewsdeskBitfarms Executives to Speak at H.C. Wainwright Event
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Optimize your mobile reading experience. Download the TipRanks App today!