Bitfarms bought 51,908 Bitcoin miners from Bitmain

The company used an option for 28,000 Antminer T21 and additionally bought 19,280 similar miners at a price of $14 per TH/s. The order also includes 3,888 Antminer S21 and 740 S21 hydro units at $17.5 per TH/s.

Based on the stated figures, the total amount was $143.7 million. The spot price of the T21 on the manufacturer's website is stated at $4370, they cost Bitfarms $2660.

The installations are expected to be delivered during 2024.

"As bitcoin has reached new highs and our operating T21 miners have already confirmed tremendous performance, Bitfarms acted quickly to secure additional purchases before the projected increase in hardware prices," said Jeff Morphy, president and CEO of the company.

The company expects that the deployment of the purchased devices will achieve a hashrate of 21 EH/s, while getting rid of outdated miners.

Bitfarms did not disclose the source of financing for the purchase.

Source: https://forklog.com/news/bitfarms-kupila-51-908-bitkoin-majnerov-u-bitmain