By Susie Violet Ward · Forbes · 27 November 2023
In November 2023, Canadian miner Bitfarms, listed on Nasdaq and the TSX, announced a firm order for 35,888 Bitmain T21 miners at $2,660 each, with deliveries scheduled for the first half of 2024, and an option to buy 28,000 more. The company said the upgrade could take its capacity to 17 EH/s and 391 MW in the second half of 2024, with hardware secured for a potential 21 EH/s.
Geoff Morphy, then CEO, said the company had built its infrastructure “in anticipation of the right time for a transformative equipment upgrade”, with equipment prices at their most attractive since 2020. The article links the move to the halving expected in April 2024 and to expansion in Paraguay, including the Paso Pe facility and an initial 80 MW at Yguazu, powered by hydroelectricity. It also describes similar investment at the time by Riot Platforms and Marathon Digital Holdings.