Bitfarms buys US land for high-performance computing development, closes mining site in Argentina
TechFlame
2025-08-14 01:24
TechFlame2025-08-14 01:24
English
On August 14, it was announced that Canadian Bitcoin mining company Bitfarms has signed an agreement to purchase 3 acres of land in Washington State and 181 acres of land in Pennsylvania at a price of 1.9 million US dollars and 3.5 million US dollars, respectively, for potential high-performance computing (HPC) development.
Meanwhile, the company decided to shut down its Bitcoin mine in Argentina because the mine faced power supply disruptions due to a debt restructuring from energy provider Generacion Mediterranea S.A. (GMSA) since May 12. Bitfarms and GMSA reached an agreement to recover $3.5 million in energy deposits in installments over 18 months beginning in January 2026 and eliminate $2.8 million asset retirement obligations associated with leased land in the country.