{"id":32420,"date":"2024-06-14T09:35:27","date_gmt":"2024-06-14T09:35:27","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitfarms-announces-major-mining-site-stock-jumps-15\/"},"modified":"2024-06-14T09:35:27","modified_gmt":"2024-06-14T09:35:27","slug":"bitfarms-announces-major-mining-site-stock-jumps-15","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitfarms-announces-major-mining-site-stock-jumps-15\/","title":{"rendered":"Bitfarms Announces Major Mining Site, Stock Jumps 15%"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Bitfarms, a leading Bitcoin mining company, is making significant moves to expand its operations, announcing a new power plant agreement and the establishment of a major mining site in the United States.<\/p>\n

Bitfarms has inked a deal to construct a power plant in Sharon, Pennsylvania, with a capacity of up to 120 MW, sending its shares soaring over 15% today. The company also secured a lease for the location, marking a strategic expansion amidst recent takeover attempts.<\/p>\n

The agreement underscores Bitfarms\u2019 commitment to enhancing its infrastructure and strengthening its position in the rapidly evolving cryptocurrency mining industry.<\/p>\n

\u201cRiot\u2019s proposed takeover would not benefit our shareholders,\u201d<\/em> reiterated Bitfarms, emphasizing its focus on shareholder value amidst acquisition talks.<\/p>\n

Strategic Location and Capacity Expansion<\/h2>\n

The chosen site in Sharon, Pennsylvania, strategically positioned within the Pennsylvania-New Jersey-Maryland Interconnection, offers significant advantages. Bitfarms highlighted the site\u2019s access to a competitive electricity supply and the opportunity to optimize energy costs effectively in a deregulated state.<\/p>\n

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\u201cThis site offers access to a competitive electricity supply and provides the opportunity to optimize and hedge energy costs effectively,\u201d<\/em> Bitfarms stated in a press release.<\/p>\n

Bitfarms aims to significantly increase its power capacity, projecting a substantial expansion by 2025. The company forecasts a 170% surge in capacity compared to its current levels, reaching 648 megawatts, with plans to support 8 EH\/s at the new site.<\/p>\n

\u201cWith the site\u2019s ability to support 8 EH\/s, alongside our recent acquisition of an additional 100 MW in Paraguay<\/a>, we project 2025 guidance of over 35 EH\/s,\u201d<\/em> Bitfarms outlined, emphasizing its bullish outlook on future operations.<\/p>\n

Transitioning its operations to the U.S. signals Bitfarms\u2019 commitment to diversification and strategic expansion, tapping into one of the world\u2019s largest cryptocurrency markets.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Bitfarms, a leading Bitcoin mining company, is making significant moves to expand its operations, announcing a new power plant agreement and the establishment of a major mining site in the United States. Bitfarms has inked a deal to construct a power plant in Sharon, Pennsylvania, with […]<\/p>\n","protected":false},"author":34,"featured_media":32421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32420"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=32420"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/32421"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=32420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=32420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=32420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}