Bitfarms, a publicly-issued Bitcoin mining business in Canada, announced that the company will purchase 48,000 Microbt Whatsminer mining equipment to expand production capacity. Bitfarms emphasized that the acquisition of new miners will increase the company’s computing power by approximately 5 exahash (EH/s) per second.
Bitfarms acquires 48,000 high-power Bitcoin miners from Microbt
Canadian Bitcoin (BTC) Mining Company Bit farm (TSXV: BITF, OTC: BFARF) announced on Tuesday that the company has signed an agreement to purchase 48,000 drilling rigs manufactured by Microbt. China’s Microbt company is the manufacturer of Whatsminer equipment, which is some of the most powerful application-specific integrated circuit (ASIC) machines in the world. For example, according to current data, the company’s Whatsminer M30S++ is the most profitable SHA256 ASIC miner on the market today.
Bitfarm explained in its announcement on Tuesday that Microbt has become the company’s “preferred supplier.” In the past eight months, Bitfarms stated that it has purchased 12,000 machines from the Chinese mining equipment manufacturer. Bitfarms emphasized that the company expects shipments of mining equipment to begin “on or before January 2022.” The company said: “These miners will be installed in existing and new facilities we are currently developing.” Microbt said the mining manufacturer is looking forward to providing Bitfarms with miners worth 5 EH/s.
Vincent Zhang, Microbt’s global sales director, said in the purchase announcement: “We are very excited to strengthen and expand our partnership with Bitfarms.” “The miners that will be provided to Bitfarms are very reliable and stable. These miners will be Bitfarms’ mining business. with [to] Its investors. “
Bitfarms CEO hints at a global shortage of semiconductor wafers
In addition, Bitfarms CEO Emiliano Grodzki explained that the acquisition was very helpful during a period of high demand for ASICs.
Grodzki said: “Due to the global shortage of wafers that can be used to manufacture semiconductor chips, the supply of miners will be the biggest challenge for the foreseeable future, and semiconductor chips are an important part of mining equipment.” He added: ” Our strategy will be to continue to develop our own infrastructure and professional operations, and to conduct mining in our own facilities to improve operational efficiency and profitability.”
News.Bitcoin.com reported last week that Chinese mining manufacturers are under great demand, and almost all next-generation rig manufacturers have sold out. Even the Bitfarm announcement itself pointed out that the delivery plan must be completed at least by January 2022, and “the final mining equipment is expected to arrive in December 2022.” Many publicly listed mining companies have already used their huge purchasing power. Come to purchase ASIC mining equipment in advance.
In addition, Bitfarm’s purchase of 48,000 Microbt Whatsminer rigs is the second largest mining acquisition since Marathon Patent Group reached a record purchase of 70,000 high-performance Bitmain Antminer S19 units at the end of 2020. The Bitfarm and Microbt transaction announcement did not disclose the US dollar. -The purchase amount of 48,000 miners. Marathon did disclose its agreement with Chinese mining equipment manufacturer Bitmain in December, which cost $170 million.
What do you think of Bitfarms purchased for the purchase of 48,000 high-performance Bitcoin mining equipment? Let us know your thoughts on this topic in the comments section below.
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