Bitfarms Announces Location Details of Large Argentine Mines – Mining Bitcoin News


Bitfarms, a Bitcoin mining unicorn based in Canada, finally revealed the details of its activities in Argentina. The company said that the large-scale Bitcoin mining farm that began construction last month will be built in Cordoba province along with a private power plant. Bitfarms will purchase energy directly from the private power company, which reportedly will not put pressure on the country’s power grid.

Bitfarms reveals Argentina’s plan

Bitfarms revealed about put up Its large-scale Bitcoin mining farm in Argentina will become the country’s largest mining farm when completed. Until now, the company has not announced the location of the farm.According to local media reports, this is disclose It will be located in the province of Cordoba, in the city of Rio Cuato.

The facility will accommodate more than 210 megawatts of power capacity for the installation of mining machines at a very low price. The facility will be built in a complex with a power plant belonging to the Albanesi Group. In this case, the electricity will come directly from the factory and will not touch the national grid.

More details ease the concerns of lawmakers

The company also provided more details on the upcoming farm, which is expected to be operational as early as next year. Damian Polla, Latam’s Bitfarms general manager, said:

We will create approximately 500 jobs during the construction period and another 100 jobs during the operation of the data center. This is an energy sales contract between private groups and does not involve any type of subsidy, considering that the demand is not connected to the grid.

These statements help alleviate the concerns that the project has caused Argentine legislators, who demand more information about the current state of the operation. Last month, National Assembly Member Martín Berhongaray, Call Let the government pass a legal proposal to release all the information about the matter.

The representative worried that a project of this scale might have an impact on the sustainability of the State Grid, the environment, and the agreements reached with power companies. Bitfarms and Albanesi Group signed an eight-year agreement that will allow the company to pay 2.2 cents per kilowatt hour, thereby retaining more Bitcoin revenue by reducing production costs.

What do you think of Bitfarms’ disclosure of the location and scope of its mines in Argentina? Tell us in the comments section below.

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