Bitfarms akan mulai menambang bitcoin di Argentina

One of the largest mining companies for the main cryptocurrency on the market announced the launch of a new mining center in Argentina. At the moment, this is the most global plan of the company in the entire history of its existence, since within the framework of the project, the power consumption of the center will take up to 210 megawatts.

According to Bitfarms representatives, back in the fall of 2020, they signed an agreement on the supply of electricity at a cost of $0.02 per kilowatt hour with a plan for further development towards a capacity of 60 megawatts or more. With a Bitcoin price of $56,000, the company's profit could reach over $650 million, which is the equivalent of 11,607 Bitcoins.

Argentina has become attractive to the Canadian Bitfarms at least because of the weather conditions. In its climate, the company's enterprises will not have a need for expensive liquid cooling so that the devices are in optimal condition and wear out longer. They plan to cool them using fans, as in the current facilities in Quebec, owned by the firm.

The project will start next year and will stretch over the next 8 years, during which Bitfarms will have to compete with China. After all, it is he who today has become the main competitor for miners of all countries in a large-scale “race” for the hash rate. And while China is winning, keeping about 65% of the hash rate under control.

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