Québec—-Bitfarms Ltd. is a blockchain infrastructure company that operates one of the largest cryptocurrency mining operations in North America and is pleased to announce that Hydro-Quebec has reconfirmed the Company’s access to its distribution network of clean and reliable hydroelectricity. Specifically, the Hydro-Quebec acknowledges existing arrangements with respect to Bitfarms’ portfolio of 52 megawatts (MWs) of electricity with Hydro Quebec, of which 28 MWs is currently unused and remains available to Bitfarms for future development. In addition to Hydro-Quebec, Bitfarms has agreements with municipal electricity distributors in Quebec for a total power portfolio of 160 MW, 53MW of which is currently used to power the Company’s approximately 29,000 ASIC computers generating approximately 780 petahash daily, on average, of computer power on the Bitcoin network.
“We are extremely pleased with our relationship with Hydro-Quebec and this confirmation provides clarity and certainty to our future access to power in Quebec to continue our ongoing growth” said interim CEO and Chief Strategy Officer, Emiliano Grodzki.
Source : Businesswire