The largest Canadian bitcoin (EXANTE: Bitcoin) mining company, Bitfarms Ltd., has announced it had signed an agreement with MicroBT to purchase 48,000 MicroBT miners. According to a press release, the company plans to increase hashing capacity by approximately 5.0 EH.
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The company expects the initial shipment of miners to take place on or before January 2022. Thereafter, miners will arrive monthly with the final mining rigs expected to arrive in December 2022.
"Once the above-noted miners are fully deployed along with the current and planned addition of new miners in 2021, the production capability of Bitfarms mining fleet is expected to grow from over 1.0 EH at the present time to 3.0 EH by the end of 2021 and then to exceed 8.0 EH by the end of 2022," the press release says.
Bitfarms CEO, Emiliano Grodzki, says the purchase and expansion will be the "cornerstone" of the company's corporate growth strategy through 2022. However, Bitfarms is not the only mining company that increases its hashing power.
As iHodl reported, The9 Ltd., whose shares are listed on the US stock exchange NASDAQ, bought over 26,000 BTC mining rigs devices. Most of the devices had been deployed in Xinjiang, Sichuan and Gansu regions of China.
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