Bitfarms Ltd., a leading Bitcoin mining company, reported an operational hashrate of 16.1 EH/s as of February 2025, marking a 6% increase from the previous month. The company is on track to complete its acquisition of Stronghold Digital Mining and sell the Yguazu data center by Q1 2025, enhancing its energy portfolio. CEO Ben Gagnon emphasized these moves will help transform Bitfarms into a major North American energy and computing infrastructure player. Additionally, Craig Hibbard has been appointed as SVP of Infrastructure to oversee development. Bitfarms continues to prioritize sustainability, utilizing primarily hydropower for its operations while strengthening its Bitcoin treasury to over 1,260 BTC.
Bitfarms Reports Strong Growth in Bitcoin Production and Announces Strategic Acquisitions
Bitfarms Ltd., a prominent player in the Bitcoin mining sector, has shared its monthly production report, highlighting significant operational advancements and strategic moves. As of February 2025, Bitfarms boasts an impressive operational hashrate of 16.1 EH/s, marking a 6% increase from the previous month. The company’s average operational hashrate surged by 20%, reaching a new high of 13.4 EH/s.
CEO Ben Gagnon expressed enthusiasm about the successful acquisition of Stronghold Digital Mining, which received substantial support from shareholders. This transaction, alongside the planned sale of the Yguazu data center in Paraguay, is expected to close in Q1 2025. These changes aim to enhance Bitfarms’ energy portfolio and position the company as a leader in North American energy and compute infrastructure.
In addition, Bitfarms has appointed Craig Hibbard as the Senior Vice President of Infrastructure. Hibbard brings over 25 years of experience in large-scale real estate development, and will oversee key infrastructure developments that support the company’s expansion in both Bitcoin mining and high-performance computing (HPC).
Key Highlights for February 2025:
- Total BTC Earned: 213 BTC, a 6% increase month-over-month.
- BTC Sold: 75 BTC, contributing $6.5 million in proceeds.
- Current Treasury: Increased to 1,260 BTC, valued at approximately $105.8 million.
Up Ahead:
Bitfarms is set to participate in notable industry conferences, including the Cantor Fitzgerald Global Technology Conference and the ROTH Conference in March. Investors and enthusiasts can look forward to further developments as Bitfarms aims to solidify its status in the Bitcoin mining landscape.
About Bitfarms:
Founded in 2017, Bitfarms is a leading Bitcoin mining and data center company focused on sustainable energy solutions. With operations in Canada, the U.S., Paraguay, and Argentina, Bitfarms is committed to leveraging eco-friendly energy to power its mining activities.
For more updates about Bitfarms, please visit their official website.
Tags: Bitfarms, Bitcoin mining, Stronghold Digital Mining, cryptocurrency news, energy infrastructure
What is Bitfarms’ production for February 2025?
In February 2025, Bitfarms reported strong production levels with a significant increase in bitcoin mined compared to previous months. This boost highlights the company’s effective operations and growth strategy.
How does Bitfarms generate bitcoin?
Bitfarms generates bitcoin through cryptocurrency mining. They use powerful computers to solve complex math problems, which helps validate transactions on the bitcoin network. Once solved, they earn new bitcoins as rewards.
What are Bitfarms’ operations like in February 2025?
In February 2025, Bitfarms maintained efficient operations. They focused on optimizing their mining rigs and enhancing power efficiency. This approach allowed them to maximize bitcoin production while minimizing costs.
How is Bitfarms’ energy usage managed?
Bitfarms is committed to using renewable energy for its operations. They often source power from hydropower and other green energy sources. This not only helps reduce their carbon footprint but also lowers overall operational costs.
What are the future plans for Bitfarms?
Bitfarms plans to expand its mining capacity and further invest in renewable energy sources. They aim to increase bitcoin production even more, keeping up with the growing demand in the cryptocurrency Market.
