Bitfarms, a prominent global Bitcoin mining company, has successfully acquired a substantial 120-megawatt (MW) mining mega-site in the United States. This strategic acquisition marks a significant expansion for Bitfarms, solidifying its position as a major player in the North American Bitcoin mining landscape.
The newly acquired site, located in Sharon, Pennsylvania, represents Bitfarms’ first large-scale data center in the United States. With access to up to 120 MW of power capacity, this facility will significantly enhance Bitfarms’ mining operations and contribute to the company’s overall growth.
Bitfarms has already closed on 110 MW of the total capacity, with plans to bring 30 MW online by the end of this year. Additionally, the company has entered into a letter of intent to lease an additional 10 MW site, which will further expand the total capacity of the Sharon facility to 120 MW in 2025.
This acquisition is a strategic move for Bitfarms, as it provides the company with a significant increase in its U.S. presence. The site’s location in the Pennsylvania-New Jersey-Maryland (PJM) grid offers access to abundant and competitively priced electricity, making it an ideal location for Bitcoin mining operations.
Bitfarms’ CEO, Ben Gagnon, expressed enthusiasm for this acquisition, stating that it “kickstarts our aggressive U.S. growth plan.” He emphasized the site’s potential to support high-performance computing (HPC) and artificial intelligence (AI) applications in addition to Bitcoin mining.
This acquisition aligns with Bitfarms’ broader strategy to expand its mining operations and capitalize on the growing demand for Bitcoin. By securing access to a large-scale mining facility in the United States, Bitfarms is well-positioned to increase its Bitcoin production and strengthen its financial position.
