RE: Bitfarms Ltd.28 Nov 2023 19:27
Nice
"Canadian based Bitfarms, publicly traded under NASDAQNDAQ and TSX, has placed an assertive bet on the future of bitcoin mining. The firm purchase order of 35,888 Bitmain T21 miners, with deliveries slated for the first half of 2024, is not just a routine expansion. It's a bold stride into the future of bitcoin mining. Priced at $2,660 per unit, these miners represent the pinnacle of mining technology, offering unprecedented efficiency and power.
What makes this move particularly noteworthy is Bitfarms’ option to acquire an additional 28,000 Bitmain T21 miners. This potential expansion could elevate the company’s operational capacity to a staggering 17 EH/s and 391 MW during the second half of 2024. In an industry that is as competitive as it is volatile, such a significant increase in capacity and efficiency is not just an upgrade—it's a game-changer."
35K888 at $2660 a pop is a CAPEX of $84.46 Million.
These idiots could have reduced that by 2.6 if they used the QBT £2 Million placing solution that is presently being built and might work. The level of stupid is incomprehensible. Why blow that amount of money when QBT have reverse hacked the Bitmain Machines so they are better according to QBT. I mean, seriously, are these numpties bothered about the warranties on $85 Million. worth of kit?
Probably trying to get in at a lower price.