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Bitfarms estimates Argentinian facility will reduce BTC mining costs by 45%

Published 04/20/2021, 02:01 AM
Updated 04/20/2021, 03:40 AM
Bitfarms estimates Argentinian facility will reduce BTC mining costs by 45%
BTC/USD
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Canadian Bitcoin mining firm Bitfarms has updated its plans for expansion in South America, revealing it has secured an eight-year contract to draw up to 210 megawatts, or MW, of electricity for $0.022 per kilowatt-hour, or kWh.

According to an April 19 announcement, Bitfarms has made significant progress in solidifying the terms for its Argentinian operation since first signing a non-binding memorandum to build a 60 MW power plant in October 2020.

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