Bitcoin mining company Bitfarms has taken control of its first mega-site in the United States, significantly boosting its power capacity and expanding its mining operations. The new data center, located in Sharon, Pennsylvania, grants Bitfarms access to up to 120 megawatts (MW) of power capacity, marking a major milestone for the company. Bitfarms has already secured 110 MW of this capacity.
The company has begun ordering the necessary equipment and anticipates bringing 30 MW of power online by the end of this year. Additionally, Bitfarms is exploring the possibility of leasing an extra 10 MW, which would increase the total site capacity to 120 MW by 2025.
Bitfarms’ Aggressive Growth Strategy in the US
Bitfarms’ CEO, Ben Gagnon, emphasized the strategic importance of this expansion into the U.S. market. “The Pennsylvania-New Jersey-Maryland grid is the largest wholesale electricity market in the US, offering abundant access to competitively priced and flexible power that is attractive for Bitcoin mining, energy trading, and high-performance computing,” Gagnon stated.
He highlighted that the Sharon site increases Bitfarms’ U.S. presence nearly sevenfold and serves as the starting point for the company’s ambitious growth plans in the country. The site is expected to support up to 8 exahashes per second using the latest generation of miners. Gagnon also noted that the location offers substantial opportunities for curtailment, demand-response, and energy trading, which will help hedge energy costs and reduce the overall cost of power for the company.
