Bitfarms spends $240 million to upgrade its bitcoin mining equipment
Bitcoin mining company Bitfarms will invest nearly $240 million to upgrade its Bitcoin mining equipment, with the goal of maintaining profitability after Bitcoin's halving in 2024. Bitfarms CFO Jeffrey Lucas said the company will purchase 88,000 high-efficiency Bitcoin mining machines. Bitfarms mined 286 BTC through mining in March 2024, with a monthly hash rate of 6.5 exahashes (EH/s).
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