Bitfarms Buys 24MW Crypto Mining Facility in Washington State for $26M

Bitfarms Buys 24MW Crypto Mining Facility in Washington State for M
Canadian bitcoin miner Bitfarms (BITF) has bought a 24 megawatt (MW) hydropower plant in Washington state that is expected to add 620 petahash (PH/s) of mining power, according to a statement from the company.Bitfarms paid $23 million in cash and $3 million in its own common shares at $7.17 per share.Bitfarms said the 24MW capacity will increase the company’s total mining power to 106MW and is expected to cost 25% less than the company’s other power plants in Quebec.“This low-cost power combined with the industry leading efficiency of the Bitmain S19j Pro means 6,200 miners in Washington could yield nearly…