Bitfarms Closes In on 110 MW, Takes Ownership of New US Data Center

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Bitfarms Ltd., a global leader in Bitcoin mining, has officially expanded its footprint in the United States by acquiring a new data center in Sharon, Pennsylvania.

This acquisition, which follows the initial announcement on June 13, 2024, marks a significant milestone for Bitfarms as it establishes its first mega-site in the U.S., securing access to up to 120 megawatts (MW) of power.

The company has closed on 110 MW, with plans to activate 30 MW by the end of 2024 and potentially bring an additional 10 MW online by 2025, raising the total site capacity to 120 MW.

The Sharon site represents a critical development in Bitfarms’ aggressive U.S. expansion strategy, increasing its operational capacity nearly sevenfold.

Bitfarms’ CEO, Ben Gagnon, emphasized in a statement the strategic importance of this new site and its location on the Pennsylvania-New Jersey-Maryland (PJM) grid — the largest wholesale electricity market in the U.S.

This position provides the company access to competitively priced and flexible power options, which are particularly attractive for Bitcoin mining and other high-performance computing (HPC) applications, including artificial intelligence.

“For Bitcoin mining specifically, the site is expected to support up to 8 EH/s+ with the latest generation miners.”

Gagnon detailed the massive potential for Bitcoin mining at the site, projecting support for up to 8 exahashes per second (EH/s) using the latest generation of mining equipment.

To capitalize on the site’s potential, Bitfarms has already begun ordering the