Bitfarms acquires 24-MW hydro power plant in Washington State

By Elizabeth Ingram Bitfarms Ltd., a Bitcoin self-mining company, has acquired a 24-MW hydro power plant in Washington State, U.S., and entered into a memorandum of understanding with the seller to co-develop additional farms in the area, increasing total mining capacity in Washington to 99 MW.

Neither the name of the hydro plant nor the company from which it was acquired were disclosed.

Bitfarms entered into a hosting agreement for 12 MW with the seller in July 2021, and 4,000 Bitmain S19j Pro miners have been installed under the agreement. This transaction replaces and results in the termination of Bitfarms’ only hosting agreement. Bitfarms plans

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