Bitfarms Expands Bitcoin Mining Operations, Raising 2025 Guidance

Bitfarms Ltd (NASDAQ: BITF) is seeing its shares rise after announcing an agreement to develop up to 120 MW of power capacity in Sharon, Pennsylvania. This expansion will provide access to competitive electricity supply and optimize energy costs. The new site is expected to increase Bitfarms' 2025 power capacity to 648 MW, a 170% increase, and boost its projected hash rate to over 35 EH/s. This move strengthens Bitfarms' position in the industry and diversifies its geographical reach. Construction is set to begin immediately, with 12 MW coming online by the fourth quarter of this year and the remainder in the second half of 2025.