Bitfarms expands to the United States, plans to start a green crypto mining business in Washington

Canadian Bitcoin mining company Bitfarms plans to build its first data center in the United States after purchasing a piece of land in Washington State.

In the announcement on November 11, Bitfarms Said It aims to use 6,200 Bitmain drilling rigs powered entirely by hydroelectric power to establish mining operations in the United States capable of reaching 620 petahashes per second. The company has purchased a 24 MW hydroelectric power plant in Washington for US$26 million, but plans to expand to 99 MW by developing more power plants in the area.

Bitfarms CEO Emiliano Grodzki said the company chose Washington because of its “cost-effective electricity” and productivity. With the addition of the 24 MW data center, the company’s current total mining capacity is 106 MW, but it is estimated that the completed facility will be able to produce 3.7 Bitcoin (Bitcoin) The cost per BTC per day is approximately US$4,000-at the current BTC price of US$65,000, this means that there is approximately US$183,000 in profit per day.

related: Due to the fall in the crypto market, Bitfarms’ share price plummeted during its Nasdaq debut

In many people Cite potential environmental impact In terms of crypto mining, Bitfarms claims that its Canadian facilities are almost entirely powered by hydroelectric power. Cointelegraph previously reported that Bitfarms Its monthly crypto mining productivity has doubled From January to July, 199 BTC and 400 BTC were mined, which may be the result of China’s crackdown on miners.

According to the mining company, it currently has 10 operating or developing farms in the United States, Argentina, and Canada. At the time of its release, Bitfarms claimed to have a mining capacity of 82 MW at 1.8 exahashes per second.