Bitfarms, a global computer infrastructure company known for Bitcoin mining operations, has entered a $ 300 million Macquarie Group loan agreement to supply the development of high-performance computing (HPC) data centers.
According to one April 2 announcementMacquarie’s private debt facility will provide $ 50 million in the preliminary funding for the Pantfarms’ Panther Creek Data Center project in Pennsylvania.
The remaining $ 250 million will be released once the Bitfarms achieved the “specific milestones of developing the location of the Panther Creek,” the announcement said.
When formed, the Panther Creek will have about 500-megawatt capacity fuel through many electricity sources.
Panther Creek “will be sought by HPC tenants once the project is being built,” said Joshua Stevens, an associate director of the Macquarie Group.
Source: Bitfarms
The project was delivered at a time when AI applications will fuel the growing demand for new sources of computational power and data storage capacity. Bitcoin miners rush to fill the void – and to I -secure reliable income streams for themselves in a post-halving environment.
However the bitfarms revealed In the recent quarterly report that this has continued to face “challenges in regulating its energy capacity,” with a approval timeline from 12 to 36 months.
Meanwhile, Bitfarms expects $ 125 million obtaining evidence digital mining To make most of the heavy lifting in providing additional capacity, CEO Ben Gagnon told investors.
Related: Bitfarms sells paraguay site to be Hive for $ 85m, re -focused on us
In the midst of industrial pressure, miners are hodling
Bitfarms mined 654 bitcoin (Btc) in the last quarter of 2024 at an average all-in cash cost of $ 60,800.
Like other miners, Bitfarms were elected to maintain a significant portion of its Mined Bitcoin. Industry data Shut up It is currently holding 1,152 BTC in its books, putting it in the top 25 that the public has exchanged with Bitcoin investors.
Miners like Hive Digital have Doubled down In their long -term approach to Bitcoin’s “Hodl” as a way to strengthen their balance sheet. The company’s Bitcoin handles worsen at 2,620 BTC.
Meanwhile, Mara Holdings accumulated 46,374 BTC and announced plans for a $ 2 Billion Stock Offers To get more bitcoin.
Source: Frank Holmes
Like bitfarms, Hive digital, Core Scientific, Hut8 and Bit DigitaI also made a strategic pivot to the AI and HPC.
Hive executives at Cointelegraph said the company has been repurposed by a portion of the Nvidia GPUs for such activities. They say AI applications can generate More than $ 2.00 per hour in income, compared to $ 0.12 per hour for crypto mining activities.
https://www.youtube.com/watch?v=xkvojawp688
Related: BTC Miners adopted the ‘Treasury Strategy,’ Diversified Business in 2024: Report
