Bitfarms to Deliver Additional Miners to Increase Computing Power

Bitfarms Ltd. has delivered 2,250 new generation miners increasing the company's computing powers to 813 petahash per second (“PH/s”). A summary of the expansion was provided by a source from BusinessWire: around 13,300 new generation miners purchased for US$17.7M; Growth of 605 PH/s, or 291% increase to computational hash power year-to-date; Aggregate installed capacity now stands at 56.8 MW, with built out infrastructure increasing to 64 MW from 34 MW at the beginning of the year and Overall operational efficiency improving to ~14.3 petahash per MW, as new generation miners represent a larger proportion of total mining hardware.

“Today’s press release marks the successful completion of the first stage of our Sherbrooke expansion”, commented Wes Fulford, Chief Executive Officer. “2019 has been the most successful year in our Company’s history in terms of growth, with 291% operational growth year-to-date. Our vertically integrated structure has allowed us to build infrastructure expediently and efficiently. Through demonstrated results, Bitfarms has positioned itself as the most efficient publicly traded cryptocurrency miner in terms of computing power relative to electricity consumption.”