Bitfarms Aims High with U.S. Expansion Plans and Elevated 2025 Targets

Bitfarms Ltd., a global Bitcoin mining company traded as BITF and associated with the cryptocurrency Bitcoin CRYPTO:BTC, has recently announced a significant move into the U.S. market. The company plans to develop a large-scale mining operation of 120 megawatts (MW) which will bolster their long-term operating capacity. This move aligns with Bitfarms' strategic vision for expansion and growth by the year 2025.

Strategic Location for Enhanced Operations

Bitfarms has strategically chosen a location within the PJM Interconnection market in the U.S. This is of particular importance given that PJM represents a large regional transmission organization that facilitates the movement of wholesale electricity. By placing operations in this locality, Bitfarms is expected to benefit from the access to low-cost and flexible power solutions—key factors for efficient cryptocurrency mining operations.

Setting Elevated Goals for 2025

The commitment to developing this new 120 MW facility is a substantial leap from the company's current 240 MW capacity. With an increase of 170%, Bitfarms' total power capacity is set to rise to 648 MW by the year 2025. In terms of hashing capacity, the company projects that by 2025 it will be operating at over 35 exahashes per second (EH/s). This endeavor begins with the initial deployment of 600 petahashes per second (PH/s) in the year 2023. The infrastructure investment solidifies Bitfarms’ objective to scale operations and sustainably grow its Bitcoin mining activities.

Long-Term Vision and Market Impact

The establishment of the 120 MW facility in the U.S. is not only a step towards growth for Bitfarms; it also aligns with the company’s vision to enhance shareholder value. By capitalizing on favorable market conditions and building a robust infrastructure, Bitfarms positions itself well in the competitive field of cryptocurrency mining. The eye on long-term growth and efficiency improvements, with the expectation to support an 8 EH/s capacity by 2025, further underscores the company's ambitious roadmap and its potential impact on the market for both Bitcoin and related investment interests.

expansion, guidance, infrastructure