Bitfarms Improves Energy Efficiency with Purchase of 4,660 High Performance Miners

Bitfarms Improves Energy Efficiency with Purchase of 4,660 High Performance Miners

– 550 PH/s purchased for $13.94/TH –
This news release constitutes a “designated news release” for purposes of the Company’s prospectus supplement dated August 16, 2021, to its short form base shelf prospectus dated August 12, 2021.
TORONTO and BROSSARD, Québec, June 07, 2023 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF), a global vertically integrated Bitcoin mining company, purchased 550 PH/s of new high efficiency BTC miners for $7.7 million, using a combination of cash and vendor credits. A total of 4,660 miners were purchased for $13.94/TH with a blended energy efficiency of 28 W/TH.
“We secured additional miners to build upon our momentum in Argentina and Quebec,” said Ben Gagnon, Chief Mining Officer of Bitfarms. “These new miners will have the highest efficiency in our fleet and improve our average energy and operating costs while minimizing capital expenditures. Representing 550 PH/s, these miners will be used for expansion and fleet optimization,

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