Bitfarms Expands Canadian Bitcoin Mining Operations with Two New Farms in Sherbrooke

Bitfarms, a corporate player in the bitcoin mining world, is significantly increasing its presence in Canada. The company has announced it’s establishing two new mining farms within the metropolis of Sherbrooke, Québec, to be accomplished in phases. These new facilities underscore Bitfarms' commitment to sustainable growth and solidifies its position as a leading Bitcoin mining company.

Bitfarms Ltd. is a Canada-based global vertically integrated bitcoin mining company. The Company develops, owns, and operates vertically integrated mining farms with in-house expertise. Their expansion into Sherbrooke demonstrates their ongoing strategy to leverage Canada's stable regulatory environment and access to renewable energy sources.

The expansion includes a new acquisition of land and a facility in Canada. The purchased land is located in Sherbrooke, allowing Bitfarms to build state-of-the-art facilities optimized for Bitcoin mining efficiency. This strategic move positions Bitfarms for continued success in the competitive landscape of cryptocurrency mining.

The farms’ combined capacity of 78 megawatts (MW) is expected to accommodate approximately 21,000 new Bitcoin miners and generate approximately 2.1 Bitcoin miner. This substantial increase in capacity will significantly contribute to Bitfarms' overall hash rate and Bitcoin production.

Stay tuned for further updates on the progress of these new Bitcoin mining farms and Bitfarms' continued growth within the Canadian cryptocurrency sector.