Bitfarms Takes Over 120 MW Mining Mega-Site in the United States

Bitfarms has officially taken control of its first mega-site in the U.S., a major milestone that enhances its mining capabilities and power capacity.

Overview of the New Site

Bitfarms has recently assumed control of a new data center in Sharon, Pennsylvania, marking its debut mega-site in the United States, which is capable of accommodating up to 120 megawatts (MW) of power.
The company has finalized an acquisition of 110 MW and has placed orders for the essential equipment, anticipating the activation of 30 MW of this capacity by the end of the current year.

Additionally, plans are in motion to lease an extra site that will provide an additional 10 MW, pushing total capacity to 120 MW by 2025.

Strategic Growth in the U.S.

According to Bitfarms’ CEO, Ben Gagnon, “The Pennsylvania-New Jersey-Maryland grid stands as the largest wholesale electricity market in the United States, delivering plentiful access to competitively priced and adaptable power sources—ideal for Bitcoin mining, energy trading, and high-performance computing, including artificial intelligence.”

“This site boosts our presence in the U.S. nearly sevenfold and initiates our aggressive growth strategy within the country,” emphasized Gagnon.

This new site could potentially yield up to 8 exahashes per second using the latest mining equipment. Gagnon noted that there are considerable opportunities available for energy trading, curtailment, and demand-response strategies to effectively manage energy costs and reduce overall power expenses.

Expanding Through Acquisition

In August, Bitfarms acquired Stronghold Digital Mining, which is anticipated to add as much as 307 MW to its capacity. This acquisition positions Bitfarms to grow its energy portfolio to more than 950 MW by the conclusion of 2025.

By integrating its operations with power generation, enhancing energy trading abilities, and securing two promising high-performance computing and AI sites, Bitfarms aims to diversify its operations beyond just Bitcoin mining, thereby creating enhanced long-term shareholder value.

Bitfarms, founded in 2017, currently operates 12 Bitcoin data centers with two more under development in Canada, the United States, Paraguay, and Argentina.