The mining company of cryptocurrencies, Bitfarms, together with the electricity company, Albanesi, will install a mining farm in the city of Córdoba-Argentina, which is said to be the largest farm in the country.
Bitfarms is a company dedicated to cryptocurrency mining and its headquarters are located in Canada, which was created by Argentines. Bitfarms has five offices in Quebec and, in sum, is listed on the stock exchange of Wall Street and in Toronto. Bitfarms powers the global decentralized financial economy through blockchain computing centers.
The alliance between Bitfarms and Albanesi is given the consumption generated by having and maintaining a mining farm, with this contract between both companiesThe national energy supply will not be used, since the electric energy that Albanesi will provide has private origin, which in parallel will mean that there are no subsidies in the farm’s electricity rates.
“It is a contract for the sale of energy between private parties, which does not involve any type of subsidies, taking into account that the demand is not connected to the grid, and uses idle capacity. This is done within a framework with all the competent authorities” Damián Polla, who is the general manager of Bitfarms in Latin America, explained for the digital news portal Infobae.
The contract between both companies has an expiration date of between eight years and while this time elapses the workers who are in Argentina will travel to Canada, where Bitfarms is headquartered, for training in this regard.
“It is going to have all the good things about the knowledge economy. This is a technology project, not a financial one ”, cInfobae shared what was exposed from the company.
The investment to be made will be USD 250 million and the company expects to generate approximately 500 jobs in the construction period and a number of 100 jobs when the data center operation begins. According to what was exposed by Damián Polla to Infobae “This is a project for the construction and administration of a data center of up to 210 megabytes (…) “
Due to its great demand and need for electricity, the farm will be built within the Albanesi facilities, specifically on the premises of the Maranzana thermal power plant in the city of Río Cuarto. In addition, they plan to start operating next year.
With this new project Bifarms intends to “pto produce bitcoins using energy 2.2 cents per kilowatt hour, thus substantially reducing the cost per unit ” Infobae explained.
This, just released, project has been planned and studied for approximately a year and a half and its creators chose to carry it out in the city of Córdoba and in the Río Cuarto thermal power plant due to the availability it offers since, this The plant had turbines that were not being used and that served the capacity that the farm project needs to maintain itself, therefore, they opted for this location.
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