Toronto Stock Exchange (TSXV) -listed Bitfarms has signed an agreement with a private Argentinian power

May 03, 2021
Toronto Stock Exchange (TSXV) -listed Bitfarms has signed an agreement with a private Argentinian power

Toronto Stock Exchange (TSXV) -listed Bitfarms has signed an agreement with a private Argentinian power producer, under which it can draw up to 210 megawatts of electricity for its planned mining facility.

The initial term of the contract is eight years. For the first four years an effective cost for the electricity will be $0.022 per kilowatt-hour.

After the final deployment of the project, the break-even cost of bitcoin mining will decrease by 45% - from $7,500 at the end of the fourth quarter of 2020 to $4,125 at the current network complexity parameters.

Bitfarms estimates that 210 MW is sufficient to support approximately 55,000 new-generation miners.

Electricity will be supplied directly from the generating facility without interconnection to the local power grid. This will guarantee that electricity cannot be curtailed during times of unusually high usage.

Read more: facebook.com/109990730574631/posts/310180230555679/?d=n

Toronto Stock Exchange (TSXV) -listed Bitfarms has signed an agreement with a private Argentinian power

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