Bitfarms Acquires 87,796 Miners as Halving Race Deepens – Btc News

[Andrea]

Bitfarms Acquires 87,796 Miners as Halving Race Deepens



Bitcoin miner Bitfarms has acquired 87,796 miners to increase efficiency and production ahead of the halving event.

In a social media post on X (formerly Twitter) on April 2, Bitfarms announced the acquisition of new miners, future farm expansion plans and a roadmap to increase capacity this year. According to the statement, the purchase is aimed at higher operational capacity, which will reach 21 EH/s by the end of the year.

Confirming the tremendous performance of our currently operating T21 miners and #Bitcoin With prices reaching all-time highs, we have moved quickly to secure these miners at attractive prices ahead of anticipated hardware price increases. With our 35,888 Bitmain… pic.twitter.com/tmZw9nR6Md

— Bitfarms (@Bitfarms_io) April 2, 2024

Bitcoin Halving and Price Increase Stimulate Miners


The team took the bold step following the success of their existing T21 miner and farm expansion plans that make it suitable for the upcoming Bitcoin halving.

““Together with our 35,888 Bitmain T21 acquisition and farm expansions announced in November, these new 87,796 miners are enough to reach 21 EH/s by the end of the year with higher operating efficiency.”


The price of Bitcoin also led to the decision to acquire major miners. With asset prices rising to all-time highs, Bitfarms bought miners ahead of the hardware boom. Following the buzz around Artificial Intelligence (AI) and the miners’ race to halve, there is a rush for hardware components used in both areas, resulting in a surge in prices. The following news was made last month: crypto miners They are scrambling to get enough computer hardware to buy used machines from the United States.

Bitfarms Heads to Expansion


Like most Bitcoin miners, Bitfarms has emphasized expansion following rising asset prices and increased adoption in various regions. This move remains an important part of its tripartite strategy to improve mining in the sector.

“These solid orders solidify our 2024 expansion plan and provide a pathway to operating one of the newest and potentially most efficient mining fleets in the industry. “Ensuring the safety of these miners is an important part of our strategy to deliver rapid and meaningful improvements.”

Bitfarms’ future plans include improving hashrate, energy efficiency, and operating cost per terahash to expand mining margins. Finally, the company stated that it is well positioned to benefit from the current market bull run.


Bitcoin miners They continue to dominate market narratives with flows from mining reserves to exchanges as they position themselves to reduce mining rewards.

Also read: AI News: US, UK Sign Formal Partnership on AI Security



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