A company dedicated to Bitcoin mining becomes a mining farm in Cordoba. to install

Cryptocurrency mining company Bitfarms, together with electricity company Albanesi, will set up a mining farm in the city of Cordoba-Argentina, which is reportedly the largest farm in the country.

Bitfarms is a cryptocurrency mining company headquartered in Canada that was founded by Argentines. Bitfarms has five offices in Quebec and, in short, is listed on Wall Street and the Toronto Stock Exchange. Bitfarms powers the global decentralized financial economy through blockchain data centers.

The alliance between Bitfarms and Albanesi is based on the consumption generated by owning and maintaining a mining farm, with this contract between the two companies, the state power supply is not used because the electricity provided by Albanesi comes from a private source, which also means that the farm’s electricity tariffs are not subsidized.

A company dedicated to Bitcoin mining becomes a mining farm in Cordoba.  to install
A company dedicated to Bitcoin mining becomes a mining farm in Cordoba. to install

“It is a contract for the sale of energy between private parties that does not include any subsidies, taking into account that the demand is not connected to the grid and uses spare capacity. This is done in a framework with all competent authorities. “?? Damian Polla, General Manager of Bitfarms in Latin America, explained for the digital news portal Infobae.

The contract between the two companies has an expiration date of eight years and during that time the workers who are located in Argentina will travel to Canada, where Bitfarms is headquartered, for training.

â € œYou will have all the good things about the knowledge economy. This is a technology project, not a financial one – cInfobae shared what was revealed by the company.

The investment to be made is $ 250 million and the company expects to create approximately 500 jobs during the construction period and a number of 100 when the data center is operational. According to what Damian Polla revealed to Infobae – ????This is a project for the construction and management of a data center of up to 210 megabytes (…) â ????

Due to the high demand and the high demand for electricity, the farm is being built within the Albanesi facilities, on the site of the Maranzana thermal power station in the town of RÃo Cuarto. In addition, they plan to start operations next year.

With this new project, Bifarms wants to â ????Produce bitcoins with energy 2.2 cents per kilowatt hour and thus reduce the costs per unit considerablyâ ???? Infobae explains.

This just published project has been planned and studied for about a year and a half and its creators chose to carry it out in the city of Córdoba and in the Río Cuarto thermal power station, since this facility has since had turbines that were not in use and that provided the capacity to which the farm project needs for its own maintenance, so this location was chosen.

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