Bitfarms Secures Contracts for Up to 150 MW of Hydropower in Paraguay

07/19 11:35

Bitfarms Ltd. (NASDAQ: BITF//TSX: BITF), a global vertically integrated Bitcoin mining company, has acquired two Power Purchase Agreements (PPAs) in Paraguay for up to 150 MW of eco-friendly hydropower. The PPAs include up to 50 MW in Villarrica, near Bitfarms' existing operations in Paraguay, and up to 100 MW in Yguazu, a new location near the third largest hydroelectric dam in the world, Itaipu. The hydropower at both locations will be provided at a contracted cost of around 3.9 cents per kWh, before VAT, and is not subject to annual inflationary adjustments.
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