Wednesday, December 8

Bitfarms and Albanesi to create Argentina’s largest mining farm

The Argentine-owned and operated mining company Bitfarms will have a new mining farm in Argentina, and according to the headlines it could be the largest in the country. This will be possible thanks to a partnership with the Albanesi group, which is considered prudent for the project.

According to reports of the Argentine portal known as Infobae, this association is not linked to any type of subsidies. Because it is a private contract that was agreed with the electricity generating company and the mining industry known as Bitfarms; clarified the general manager of Bitfarms

The province of Córdoba is key to the mining farm

Bitfarms is a major mining company that brings high computing power to the Bitcoin network; This makes it one of the most important global firms in its sector. For this reason they do not stop expanding, and this time they announced that they will invest 250 million dollars in a new mining farm that will be located in the province of Córdoba, Argentina.

The decision to create a mining farm in the city of Río Cuarto, Córdoba, is due to the association they have with the Albanesi group. Since there it is planned to use one of the thermal power plants owned by the company; with the aim of achieving fairly low consumer prices; of exactly 2.2 cents per kWh (kilowatt hour).

The plant to be used has enough space for Bitfarms to implement all the necessary equipment for the mining farm. In addition, it has generating turbines that were not in use; which would optimize the maintenance of the farm over time.

Details and duration of the contract between Bitfarms and Albanesi

Bitfarms managers know electricity prices in Argentina, so they have decided to partner with Albanesi; the public contract shows that its duration will be 8 years. Therefore, the mining farm that they will have in the province will be able to take advantage of all the power of the generator located in the city of Río Cuarto during that period of time.

It should be noted that the new project will not only generate growth for the company, but also will develop new jobs; as they need at least a staff of 100 citizens to manage the mining farm. Additionally, during the construction process, 500 jobs will be granted.

Once the mining farm is ready to operate, the employees recruited to manage it must travel to Canada; there Bitfarms will train them at headquarters.