Key Takeaways
- Bitfarms secures a 120 MW Bitcoin mining mega-site in Pennsylvania.
- Bitfarms will bring 30 MW of capacity online by the end of 2023.
- Acquisition of Stronghold Digital Mining boosts future capacity to 950 MW by 2025.
Bitfarms, a leading Bitcoin mining company, has taken control of a massive new data center in Sharon, Pennsylvania, marking its first large-scale operation in the United States.
The site has an energy capacity of up to 120 megawatts (MW), with Bitfarms having already secured 110 MW. The company expects to activate 30 MW by the end of 2023, with full capacity projected for 2025.
Bitfarms is leasing an additional 10 MW site to reach the total capacity of 120 MW. Ben Gagnon, Bitfarms’ CEO, emphasized that this marks a sevenfold increase in the company’s U.S. presence and jumpstarts:
… an aggressive US growth plan.
US markets
The Pennsylvania-New Jersey-Maryland power grid, where the facility is located, is the largest wholesale electricity market in the U.S.
Gagnon stated that the site offers not just energy for Bitcoin mining, but opportunities in energy trading, demand-response, and artificial intelligence, reducing overall costs.
Earlier in August, Bitfarms acquired Stronghold Digital Mining, adding up to 307 MW and positioning the company to reach 950 MW of total capacity by 2025. Bitfarms plans to expand beyond Bitcoin mining by integrating power generation and exploring high-performance computing.
Founded in 2017, Bitfarms operates 12 data centers across Canada, the U.S., Paraguay, and Argentina.
