Bitfarms to develop large-scale mining farm in Pennsylvania, USA

Bitcoin miner Bitfarms reiterated that Riot Platforms' acquisition proposal does not serve the best interests of its shareholders. It then announced that it has reached an agreement to develop its first large-scale mining facility in Pennsylvania, USA. This will enhance the miner's overall power supply capacity and is expected to increase Bitfarms' power capacity to 648 megawatts by 2025, a 170% increase from its current capacity and a 47% increase from its target capacity at the end of 2024. The company stated: "The site will be able to support 8 EH/s, and with the additional 100 MW we recently acquired in Paraguay, we expect our computing power to exceed 35 EH/s by 2025."