Bitfarms completes first farm upgrade, reaches 7 EH/s

Bitfarms announced the completion of its first two farm upgrades with over 5,000 Bitmain T21 miners installed and operating in Quebec. Upgrade Highlights: At Garlock, the Company installed 3,168 T21s. At Farnham, the Company installed 1,710 T21s and 100 M53S+ hydro miners. In Q2 2024, more than 30,000 additional T21s are scheduled to be delivered to the Company’s existing locations including its newest development in Paso Pe, Paraguay. Bitfarms’ Chief Mining Officer, Ben Gagnon, stated, “Leveraging our existing facilities and the strength of our operations team, Bitfarms has already energized over 5,000 T21s with installations at our third location underway. As we deploy an additional 30,000 miners this quarter, we expect to drive rapid increases in both our hashrate and energy efficiency, while executing towards our 12 EH/s and 21 EH/s targets in 2024.”