Famous Bitcoin miner Bitfarms has taken a significant step ahead of the halving. The company purchased 87,796 new miners to increase efficiency and production. On April 2nd, through a social media post on X (formerly known as Twitter), Bitfarms announced the acquisition of new mining devices, while also sharing future farm expansion plans and a roadmap for increasing capacity this year. The announcement stated that the purchase will accommodate more operational capacity, reaching 21 EH/s by year-end.
Bitcoin Halving Approaches
The team, following the success of their current T21 miners and farm expansion plans, took a bold step aligning with the upcoming Bitcoin halving.
Together with our 35,888 Bitmain T21 purchase and farm expansion announced in November, these new 87,796 miners will be sufficient to reach 21 EH/s by year-end and provide higher operational efficiency.
The price of Bitcoin also seems to have influenced the decisions of major miners. After reaching its ATH, Bitfarms took steps to make significant purchases.
Developments in artificial intelligence and the halving of mining rewards are prompting everyone to act quickly, causing price increases for the hardware used in both fields.
Last month, it was revealed that crypto miners in the United States had been striving to acquire used machines from the past, seeking access to computing hardware.
Similar to most Bitcoin mining companies, Bitfarms also announced its expansion plan following the rising BTC price and increasing adoption in various countries. This move stands out as an important part of its three-pronged strategy to advance mining in the industry.
These orders solidify our expansion plan for 2024 and pave the way for operating one of the newest and potentially most efficient mining fleets in the industry. Securing these miners is a crucial part of our strategy to achieve rapid and meaningful improvements…
How Much is Bitcoin Worth Now?
As the halving scheduled for April 19th approaches, all eyes are on the Bitcoin price. After staying above $69,000 for days, the price of Bitcoin dropped sharply today, falling to $64,500.
As of the time of writing, Bitcoin has seen some recovery and is trading at the $66,000 level. Despite this price level, it is important to remember that Bitcoin has experienced a 5% drop today.
