"There are a lot of Bitfarms getting miners, it's just a little bit more to reach $100K."
In order to increase efficiency and production ahead of the halving event, Bitcoin cryptocurrency (BTC) miners called Bitfarms announced the acquisition of 87,796 miners, plans for future farm expansion and a roadmap towards a capacity hike this year.
Please note that the acquisition is for a larger operating capacity that will see 21 EH/s by the end of this year and should be noted as a bold move following the success of Bitmain's Antminer T21 miners as well as farm expansion plans.
Following the purchase of 35,888 Bitmain Antminers T21 and the expansion of the Bitfarms farm announced in November 2023, the acquisition of new miners has the potential to reach 21 EH/s including better operational efficiency by the end of the year.
The price of BTC which has risen to the highest level of all time (ATH) has also been the cause of Bitfarms acting quickly to get miners in relatively large numbers before the hardware has improved.
This is because crypto miners are scrambling to get computing hardware to the point of getting used machines from the United States (US) due to the hype surrounding artificial intelligence (AI) and miners' race towards halving.
Like many BTC miners, Bitfarms has emphasized the expansion not only due to the increase in the price of BTC but also the use from several jurisdictions where the move remains part of a three-pronged strategy for mining improvement.
Increasing the hash rate, energy efficiency and co-operation per terahash to expand the mining margin has been included in the current release of Bitfarms which has a very neat future plan.
Like to be informed BTC miners continue to dominate the crypto market narrative plus there is an inflow into the exchange from mining reserves as they position towards reduced mining rewards.
