Bitfarms reaches 240 MW, 6.3 EH/s as Baie-Comeau energizes initial phase

Bitfarms fully energized the first phase of its farm in Baie-Comeau, Quebec, increasing its total operating capacity to 240 MW and its hashrate to 6.3 EH/s. “By fully energizing Baie-Comeau, we increased our corporate operating capacity with cost-effective and clean hydro power and achieved our 6.3 EH/s goal,” said Bitfarms CEO Geoff Morphy. “This efficient facility leverages our operating and design expertise. We will continue to manage our balance sheet prudently to be positioned to capture growth opportunities both before and after the next Bitcoin halving, expected in mid-April 2024.” Bitfarms acquired Baie-Comeau in July 2023, with the plan to reach 11 MW by the end of Q3 2023 and add another 11 MW when power is made available, which is expected in 2H 2024.