News of Miner Hosting Agreement in Pennsylvania Is Moving this Bitcoin Data Center Company Higher

Bitcoin data centers are big business, and this company currently has 12 operating data centers and two under development situated across four countries: Canada, the United States, Paraguay, and Argentina.  And shares are moving higher on news of a new hosting agreement.

Bitfarms Ltd. (TSX:BITF) (NASDAQ: BITF) is a global leader in vertically integrated Bitcoin data center operations. The firm announced in a press release today that it has entered into a miner hosting agreement with Stronghold Digital Mining Hosting, LLC, a subsidiary of Stronghold Digital Mining, Inc. (NASDAQ: SDIG) at Stronghold’s Panther Creek site in Pennsylvania.

The terms of the Hosting Agreement state that Bitfarms will be accelerating the deployment of 10,000 Bitmain T21 miners, originally scheduled to come online at the Company’s Yguazu, Paraguay site in December 2024, to Stronghold’s Panther Creek site. Energization is anticipated in October 2024 and will bring 2.2 EH/s online immediately.

These centers are environmentally friendly and powered predominantly by hydroelectric power and long-term power contracts, as Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

Shares of Bitfarms and Stronghold were moving higher in morning trading. 

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