Located in the city of Iguazu, the land lies adjacent to the Itaipu Dam, which is the third largest hydroelectric dam globally, generating an installed capacity of 14 gigawatts. Bitfarms has announced that the mining center will be completed by the second half of 2024 and will be powered by renewable energy sources in the region.
“In the near future, the majority of our portfolio will rely on cost-effective, clean energy, thereby supporting sustainable Bitcoin mining,” stated Bitfarms.
Since its establishment in 2017, Bitfarms has been actively expanding its operations. To further boost its mining capabilities, the company has recently placed an order for 35,888 Antminer T21 devices from Bitmain, a renowned mining equipment manufacturer. Deliveries of the devices are scheduled between March and May 2024.
Furthermore, in April of last year, Bitfarms obtained the necessary permits to expand production to 100 MW at its facility in Argentina. This mining farm was inaugurated in the city of Rio Cuarto.