Wow! Bitfarms Builds Largest Bitcoin Mining Facility In Argentina

Bitfarms makes the biggest bitcoin mining in Argentina (Coinfomania)

JAKARTA – One of the giant Bitcoin mining companies from Canada, Bitfarms reported its activities in Argentina. Bitfarms said it was building the largest Bitcoin mining facility in the country. Construction has started since last month located in the province of Cordoba. Bitfarms cooperates with a private power generation company for its mining energy.

The decision is intended so that Bitfarms' Bitcoin mining activities do not interfere with the electricity network used by the Argentinean community. The company considers that the construction of a Bitcoin “mega-mining” facility will be the largest in one of the Latin American countries. However, the company has not announced the exact location of the facility being built. A number of local media revealed that the mine would be built in the city of Rio Cuarto, Cordoba.

The facility will house more than 210 megawatts of power capacity to install miners at a very low cost to the company. The facility will be built within a complex housing the Albanesi group's power plant. In this case, electricity will come directly from the generator, without touching the national electricity grid.

The company also provided more details on its upcoming mining facility, which is projected to be operational next year. Damian Polla, Bitfarms general manager for Latam, stated:

“We will generate about 500 jobs during construction and another 100 during data center operations. It is a contract for the sale of energy between private parties, which does not involve any kind of subsidy, taking into account that the demand is not connected to the grid,” Polla said.

These statements served to ease the concerns the project raised from legislators in Argentina, who requested more information on the current status of operations. Last month, Martín Berhongaray, a national deputy, asked the government to release all information on the matter through a proposed law.

Deputies are concerned about the possible impact of a project of such scale on the national grid, the environment, and the sustainability of the agreement with the power company. Bitfarms signed an eight-year agreement with the Albanesi group, which will allow the company to pay 2.2 cents per kilowatt-hour, allowing it to maintain more bitcoin revenue by lowering production costs, as reported by Bitcoin News.