Bitfarms to purchase Bitmain’s BTC miners for $95.5m
28.11.2023
Mining company Bitfarms has placed an order for 35,888 Antminer T21 Bitcoin mining devices from Bitmain at a price of $2,660 per unit.
According to the statement, the transaction amount will be about $95.5 million. Equipment delivery is expected in March-May 2024, and Bitfarms also received an option to purchase an additional 28,000 Antminer T21.
After deploying the purchased installations, the company expects to increase the hashrate to 12 EH/s with an installed capacity of 310 MW in the first half of 2024. By the end of the year, the figures should reach 17 EH/s and 391 MW, respectively. Hashrate is directly proportional to the profitability of a miner or mining pool.
The higher the miner’s hashrate, the higher the block mining speed and the chance of receiving a reward for its creation. The new devices are expected to significantly increase the ability for miners to mine Bitcoin (BTC).