Bitfarms, a global IT infrastructure company known for its Bitcoin extraction operations, has concluded a 300 million dollars loan agreement with Macquarie Group to finance the development of its computer data centers (HPC).
According to an announcement of April 2, the installation of private macquarie debt will provide $ 50 million in initial funding for the Panther Creek data center project in Bitfarms in Pennsylvania.
The remaining $ 250 million will be published once Bitfarms has reached “specific development milestones for its location as Panther Creek,” said the announcement.
Once developed, Panther Creek will have a capacity of nearly 500 megawatts powered by several sources of food.
Panther Creek “will be sought by HPC tenants once the project is construction,” said Joshua Stevens, associate director of the Macquarie group.
Source: Bitfarms
The project is delivered at a time when AI applications feed the growing demand for new sources of computing power and data storage capacity. Bitcoin minors rush to fill the void-and to secure reliable sources of income for themselves in a post-launch environment.
However, Bitfarms revealed in his recent quarterly report that he continues to deal with “regulatory challenges in widening his energy capacity”, the approval calendar ranging from 12 to 36 months.
In the meantime, Bitfarms expects its $ 125 million acquisition in Stronghold Digital Mining to make a large part of the maintenance time by providing additional capacity, CEO Ben Gagnon told Investors.
In relation: Bitfarms sells the Paraguay site in Hive for $ 85 million, refocus on us
In the midst of industry pressure, minors put themselves
Bitfarms Extract 654 Bitcoin (BTC) in the last quarter of 2024 at an average cash cost of $ 60,800.
Like other minors, Bitfarms has chosen to keep an important part of its extracted bitcoin. Industry data shows that it currently contains 1,152 BTC on its books, which placed it among the 25 main Bitcoin investors listed on the stock market.
Minors and Hive Digital have doubled their long -term “hodl” strategy as a means of strengthening their balance sheet. The company’s bitcoin holdings inflated to 2,620 BTC.
Meanwhile, Mara Holdings accumulated 46,374 BTC and announced plans for a share offer of $ 2 billion to acquire more bitcoin.
Source: Frank Holmes
Like Bitfarms, Hive Digital, Core Scientific, Hut8 and Bit Digital also made a strategic pivot towards AI and HPC.
The leaders of Hive told Cintelegraph that the company had reused part of its NVIDIA GPU for such tasks. They said AI applications can generate more than $ 2.00 income, compared to only $ 0.12 per hour for cryptography extraction activities.
https://www.youtube.com/watch?v=xkvojawp68888
In relation: BTC minors adopted the “Treasury Strategy”, “Business Diversified Business in 2024: Report
