Bitfarms acquires 24 MW crypto mining facility in Washington State for $26 million

According to reports, Canadian Bitcoin miner Bitfarms (BITF) has purchased a 24 megawatt (MW) hydropower encrypted mining facility in Washington State, which is expected to increase its mining capacity by 620 PH/s. Bitfarms paid $23 million in cash and $3 million in common stock, at $7.17 per share. Bitfarms said that the 24 MW capacity would increase the company’s total mining capacity to 106 MW, and the estimated cost will be 25% lower than the company’s other power plants in Quebec.