Bitfarms, the creator of the Bitcoin farm project in Argentina and Paraguay, reported the deployment of thousands of pieces of mining equipment. This announcement took place during the delivery of its financial report for the fourth quarter of 2021.
In January, Paraguay began installing Bitcoin farms powered by hydroelectric electricity. In Argentina, buildings are being developed to house 27,500 Whatsminer M30S BTC mining machines, which are among the most effective on the market.
Bitfarms capture Bitcoin hashrate
In Argentina, Bitfarms hopes to capture 1% of the worldwide Bitcoin hashrate (206 EH/s). Argentina is expected to be one of the countries with the greatest Bitcoin mining capacity by the end of the year. According to a study conducted by the University of Cambridge, the country now provides 0.05 percent of the Bitcoin hashrate.
Bitfarms is building two massive mining farms in Ro Cuarto, Córdoba. The two farms will consume 100 megawatts of power.
On the other hand
There’s a chance that Bitcoin mining will utilise too much hydroelectric electricity, resulting in blackouts in Córdoba. Bitfarms, on the other hand, signed an eight-year deal with a private supplier for the delivery of natural gas-based energy.
The enterprise will have 210 megawatts of installed electric power capacity (MW). This amount of energy is enough to power around 100 Argentine houses for a year.
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