Data such as the location and energy capacity of the mining farm Bitfarms They were revealed by Argentine media.
In October we revealed that Canadian-based mining giant Bitfarms had revealed the construction of a mega mining farm in Argentina. Much was said at that time, but there were things that remained in the air, such as the location of it.
According to Argentine media, the company says that the mining mega-farm of Bitcoin, whose construction began last month, It will be built in the province of Córdoba, in partnership with a private power plant (the latter had already been announced). Bitfarms it will buy the energy directly from this private electric company, supposedly without causing stress to the country’s electricity grid.
As the information indicates, once it is completed it will be the largest mining complex in the country. The news is that the location of the mining farm was also revealed Bitcoin, which had not been announced by the company until now. According to local media, it was revealed that It will be located in the province of Córdoba, in the city of Río Cuarto.
The facility will house more than 210 megawatts of energy capacity to install miners at a very low price for the company. The facility will be built within a complex that houses a group’s power plant Albanian. In this case, the energy will come directly from the plant, without touching the national electricity grid.
The company also provided more details on the upcoming farm, which is expected to be operational next year.
Damian Polla, general manager of Bitfarms for Latam, stated:
We will create approximately 500 jobs during construction and another 100 during data center operation. It is a contract for the sale of energy between individuals, which does not imply any type of subsidy, taking into account that the demand is not connected to the grid.
This serves as a response to Argentine lawmakers who were concerned about the plant. Last month, Martín Berhongaray, a national deputy, asked the government to disclose all the information in this regard through a resolution.
The deputy was concerned about the possible effects that a project of such magnitude could have on the national electricity grid, the environment and the sustainability of the agreement with the electricity company. So he said:
If the total electrical system installed in the country, or imminent installation, has that capacity available. If the consumption of that electrical energy used will receive a subsidy from public funds and if so, what is the source of financing for that subsidy and what are the criteria and justifications that justify its granting.
Bitfarms signed an eight-year agreement with the group Albanian, that will allow the company to pay 2.2 cents per kilowatt-hour, which will allow it to retain more revenue from Bitcoin by reducing production costs. According to previous information, the savings for the company, only in electricity, would be around 45%. That is, more profits from mining.
It is worth remembering that Bitfarms It was one of the thousands of companies affected by the pandemic and had to reduce staff at the most critical moments. However, as early as May he had announced his interest in building the largest farm in bitcoins in Argentina. Your project is becoming a reality. It is not the only one, many miners of Bitcoin They are taking advantage of the energy subsidies of that country, one of the most affected by the economic crisis and high inflation.
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