New Mining Equipment Purchase:
Each WhatsMiner M20S miner produces an average of 72 terahash per second of computing capacity while consuming approximately 3.46 kWh of energy, or 48 joules per terahash. The M20S miners will utilize, in aggregate, approximately 6.2 megawatts (“MW”) of electricity.
“We are pleased that the Company has been able to utilize its working capital to capitalize on historically low equipment pricing for the acquisition of the latest batch of mining equipment. This equipment will further extend the Company’s position as the most efficient publicly traded cryptocurrency miner in
Management Appointments and Changes:
The Company thanks
“We are very pleased to add Nico as our Chief Development Officer and for John to take on the additional role of Chief Operating Officer. We have a strong, commercially experienced, and cohesive management team with proven track records and we remain committed to growing our Company,” commented
About
The Company owns and operates computing centres that power the global decentralized financial economy.
For investor and media inquiries, please contact:
+1.514.277.3508
marc@ryanap.com
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Website: www.bitfarms.com
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the
Forward-Looking Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions, plans and future actions of the Company, as well as Bitfarms’ ability to successfully mine digital currency, revenue increasing as currently anticipated, the ability to profitably liquidate current and future digital currency inventory, volatility of network difficulty and digital currency prices and the resulting significant negative impact on the Company’s operations, the construction and operation of expanded blockchain infrastructure as currently planned, and the regulatory environment of cryptocurrency in the Provinces of
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the global economic climate; dilution; the Company’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors which could impact future results of the business of
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