Bitfarms: Focus on developing U.S. energy and HPC infrastructure rather than expanding mining rig capacity

TechFlow, May 4 — Cryptocurrency mining company Bitfarms (NASDAQ/TSX: BITF) released its April operations report. The company announced a financing agreement with Macquarie Group for up to $300 million, with funds dedicated to building a high-performance computing (HPC) data center at Panther Creek. In April, the company mined 268 bitcoins and maintained an operational hashrate of 19.5 EH/s. As of the end of April, the company held 1,005 bitcoins, valued at approximately $94 million based on a price of $94,000 per bitcoin. CEO Ben Gagnon stated that the company will focus on developing energy and HPC infrastructure in the United States rather than expanding its mining fleet, aiming to generate sustainable shareholder value.