Bitfarms opens the largest mining platform in Argentina
The company provided details of the mining center under construction after an official request from Argentine lawmakers
09.11.2021 - 14:30
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What's new? Bitfarms, the Canadian unicorn of bitcoin mining, has revealed details of its operations in Argentina. The company reports that a bitcoin mining farm will be built in the province of Cordoba. The facility will be located next to a power plant owned by the Albanesi Group. Electricity will come directly from the plant without affecting the national power grid, local media reported.
What are the authorities worried about? In October, Martin Berhongaray, a member of Argentina's National Congress, called on the government to demand from Bitfarms all clarifying information about the mining farm.
The deputy was concerned about the possible impact of a project of this scale on the national grid, the environment, and the sustainability of the agreement with the energy company.
What does the Bitfarms representative say? The company has provided more details about the project, which will be launched as early as 2022. Damian Polla, general manager of Bitfarms for Latin America, stated:
“We will generate approximately 500 jobs during construction and another 100 during the operation of the data center. This is a contract for the sale of energy between private parties, which does not involve any type of subsidies.”
Bitfarms has signed an eight-year agreement with Albanesi Group under which it will pay 2,2 cents per kilowatt-hour. This will allow it to receive more revenue from mining by lowering production costs.
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