Bitfarms Ltd. reported earning 236 BTC in October 2024, enhancing its total Bitcoin treasury to 1,188 BTC. This figure underlines the company’s robust mining activity across its 12 facilities spread across four countries.

The expansion comes alongside an agreement with Stronghold Digital Mining, involving the hosting of 10,000 miners at the Panther Creek site in Pennsylvania.

The partnership features a profit-sharing mechanism, allowing both companies to capitalize on increased operational efficiency. Bitfarms indicated some delays in reaching its target hashrate, which will impact production timelines and performance metrics.

Stronghold, known for its environmentally focused coal refuse power generation, aligns with Bitfarms’ pursuit of sustainable energy solutions for its mining operations.

The deployment under this deal will contribute to Bitfarms’ strategic scale-up of energy capacity and mining output. The company’s efforts reflect its broader initiative to optimize mining efficiency through strategic partnerships and regional diversification.

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