Bitfarms to hire 48,000 miners to improve their hashing efficiency.

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Canadian miner Bitfarms is expected to purchase 48,000 new miners from MicroBT in order to raise the hashing power by roughly 5.0 EH. The organisation currently has 1.0 EH/per second.

Over the past eight months, Bitfarms has bought 12,000 rigs from MicroBT; the first shipment of miners from the new acquisition will take place prior to January 2022. The Bitfarms team anticipates the arrival of the miners on a monthly basis during 2022, with the final mining facility arriving in December next year. Bitfarms will mount miners at existing and new facilities that are supposed to be in progress.

Earlier, Bitfarms deployed 1,000 Whatsminer M31S mining rigs and said it would acquire 3,000 Whatsminer M31S+ miners, scheduled to arrive at the end of February next year. The firm claimed that the mining fleet would raise computing capacity and accelerate the development of the DeFi economy.

As soon as the latest mines are fully deployed, Bitfarms expects its output capacity to rise to 3.0 EH by the end of 2021. Eventually, by the end of 2022, they expect to reach 8.0 EH.

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Hoping to raise their hash rate by a factor of eight, the Bitfarms team thinks this will “substantially increase” the amount of Bitcoins received on a regular basis.

Emiliano Grodzki, CEO of Bitfarms, found the supply of miners to be one of the biggest problems in the near future. Especially due to a global scarcity of mining chips.

Across the globe, China-based Bitcoin miners said they were facing setbacks due to a shortage of mining chips. Owing to the unparalleled costs of mining machinery and the growing need for cryptocurrencies, certain companies have resorted to pre-used chips. China-based miners claimed that high purchasing quantities from North America were “squeezing supplies” throughout the region.

 

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