Bitfarms Ltd. (TSE:BITF) has released an update.
Bitfarms Ltd. has announced a significant expansion at its Yguazu site in Paraguay, doubling its power capacity to 200 MW through a revised agreement with the state-owned utility. This move, expected to facilitate growth in 2025, ensures a low-cost electricity supply at a fixed rate without inflation adjustments, enhancing the company’s development efficiency and cost-effectiveness in power. The expansion aligns with Bitfarms’ strategic growth, leveraging existing construction plans to bolster its infrastructure and reduce overall costs.
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